Itron (ITRI) Receives New Coverage from Analysts at UBS Group

UBS Group began coverage on shares of Itron (NASDAQ:ITRI) in a research report sent to investors on Tuesday. The firm issued a strong-buy rating and a $84.00 price objective on the scientific and technical instruments company’s stock.

Several other analysts have also issued reports on ITRI. Zacks Investment Research upgraded Itron from a hold rating to a buy rating and set a $81.00 target price on the stock in a report on Monday, September 4th. Argus reiterated a buy rating and set a $80.00 target price (up previously from $78.00) on shares of Itron in a report on Tuesday, September 12th. Robert W. Baird reiterated a hold rating and set a $77.00 target price on shares of Itron in a report on Tuesday, September 12th. Canaccord Genuity lowered Itron from a buy rating to a hold rating and set a $78.00 target price on the stock. in a report on Tuesday, September 19th. Finally, JMP Securities set a $102.00 target price on Itron and gave the stock a buy rating in a report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Itron presently has an average rating of Buy and a consensus price target of $82.18.

Itron (ITRI) traded up $0.85 on Tuesday, reaching $70.15. The company had a trading volume of 358,092 shares, compared to its average volume of 514,246. Itron has a fifty-two week low of $57.80 and a fifty-two week high of $79.95. The company has a market capitalization of $2,641.06, a price-to-earnings ratio of 41.02, a PEG ratio of 0.92 and a beta of 1.00. The company has a quick ratio of 1.26, a current ratio of 1.67 and a debt-to-equity ratio of 0.38.

Itron (NASDAQ:ITRI) last released its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.12). Itron had a return on equity of 14.84% and a net margin of 3.42%. The company had revenue of $486.75 million for the quarter, compared to the consensus estimate of $526.55 million. During the same quarter in the previous year, the company posted $0.77 EPS. The business’s revenue was down 4.0% on a year-over-year basis. equities research analysts anticipate that Itron will post 2.99 earnings per share for the current year.

In other Itron news, major shareholder Scopia Capital Management Lp purchased 75,193 shares of the stock in a transaction on Wednesday, December 6th. The shares were purchased at an average price of $67.34 per share, with a total value of $5,063,496.62. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Thomas Deitrich sold 11,899 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $69.27, for a total value of $824,243.73. Following the transaction, the chief operating officer now directly owns 82,776 shares in the company, valued at approximately $5,733,893.52. The disclosure for this sale can be found here. In the last three months, insiders have acquired 750,261 shares of company stock worth $51,839,736. Company insiders own 2.03% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC grew its position in shares of Itron by 393.3% in the second quarter. SG Americas Securities LLC now owns 11,671 shares of the scientific and technical instruments company’s stock valued at $791,000 after purchasing an additional 9,305 shares during the last quarter. Legal & General Group Plc grew its position in shares of Itron by 9.6% in the second quarter. Legal & General Group Plc now owns 64,878 shares of the scientific and technical instruments company’s stock valued at $4,394,000 after purchasing an additional 5,692 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Itron by 26.5% in the second quarter. BNP Paribas Arbitrage SA now owns 18,489 shares of the scientific and technical instruments company’s stock valued at $1,253,000 after purchasing an additional 3,871 shares during the last quarter. Marshall Wace North America L.P. grew its position in shares of Itron by 48.2% in the second quarter. Marshall Wace North America L.P. now owns 19,962 shares of the scientific and technical instruments company’s stock valued at $1,357,000 after purchasing an additional 6,495 shares during the last quarter. Finally, Pacad Investment Ltd. grew its position in shares of Itron by 21.4% in the second quarter. Pacad Investment Ltd. now owns 1,700 shares of the scientific and technical instruments company’s stock valued at $115,000 after purchasing an additional 300 shares during the last quarter. 93.54% of the stock is currently owned by hedge funds and other institutional investors.

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About Itron

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.

Analyst Recommendations for Itron (NASDAQ:ITRI)

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