Canaccord Genuity reissued their hold rating on shares of Itron, Inc. (NASDAQ:ITRI) in a report released on Friday morning. Canaccord Genuity currently has a $78.00 price objective on the scientific and technical instruments company’s stock.
ITRI has been the topic of several other reports. Oppenheimer Holdings, Inc. reaffirmed an outperform rating and issued a $78.00 price target (up from $75.00) on shares of Itron in a report on Friday, August 4th. BidaskClub cut shares of Itron from a strong-buy rating to a buy rating in a report on Thursday, July 27th. Zacks Investment Research raised shares of Itron from a hold rating to a buy rating and set a $81.00 price target on the stock in a report on Monday, September 11th. Cowen and Company set a $74.00 price target on shares of Itron and gave the company a hold rating in a report on Thursday, August 3rd. Finally, Guggenheim began coverage on shares of Itron in a report on Tuesday, June 20th. They issued a buy rating and a $81.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Itron has a consensus rating of Buy and an average price target of $80.22.
Shares of Itron (NASDAQ:ITRI) traded up 0.32% during midday trading on Friday, hitting $78.15. 187,844 shares of the stock were exchanged. The firm has a 50 day moving average of $74.07 and a 200 day moving average of $68.92. The firm has a market cap of $3.02 billion, a P/E ratio of 96.72 and a beta of 1.10. Itron has a 12-month low of $51.55 and a 12-month high of $78.95.
Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.03. The firm had revenue of $503.10 million for the quarter, compared to analysts’ expectations of $491.80 million. Itron had a net margin of 1.60% and a return on equity of 15.43%. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share. Equities analysts forecast that Itron will post $3.07 EPS for the current fiscal year.
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Several large investors have recently modified their holdings of ITRI. PNC Financial Services Group Inc. raised its holdings in shares of Itron by 2.0% during the second quarter. PNC Financial Services Group Inc. now owns 1,610 shares of the scientific and technical instruments company’s stock worth $109,000 after purchasing an additional 31 shares during the period. Pacad Investment Ltd. raised its holdings in shares of Itron by 21.4% during the second quarter. Pacad Investment Ltd. now owns 1,700 shares of the scientific and technical instruments company’s stock worth $115,000 after purchasing an additional 300 shares during the period. Riverhead Capital Management LLC raised its holdings in shares of Itron by 74.8% during the second quarter. Riverhead Capital Management LLC now owns 2,097 shares of the scientific and technical instruments company’s stock worth $142,000 after purchasing an additional 897 shares during the period. SG Americas Securities LLC raised its holdings in shares of Itron by 1.5% during the first quarter. SG Americas Securities LLC now owns 2,366 shares of the scientific and technical instruments company’s stock worth $144,000 after purchasing an additional 36 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Itron by 21.7% during the first quarter. Envestnet Asset Management Inc. now owns 2,492 shares of the scientific and technical instruments company’s stock worth $152,000 after purchasing an additional 444 shares during the period. 93.66% of the stock is currently owned by institutional investors.
Itron Company Profile
Itron, Inc (Itron) is a technology and service company. The Company provides solutions that measure, manage and analyze energy and water use. The Company operates through three segments: Electricity, Gas and Water. It provides a portfolio of products, solutions, software and services to electric, gas and water utility customers across the globe.
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