Raymond James Financial initiated coverage on shares of Itron (NASDAQ:ITRI) in a research report released on Tuesday morning, MarketBeat reports. The brokerage issued a strong-buy rating and a $84.00 price objective on the scientific and technical instruments company’s stock.
Other equities analysts have also issued research reports about the stock. Argus restated a buy rating and set a $80.00 price objective (up previously from $78.00) on shares of Itron in a research report on Tuesday, September 12th. Zacks Investment Research upgraded shares of Itron from a hold rating to a buy rating and set a $81.00 price objective for the company in a research report on Monday, September 11th. Needham & Company LLC restated a buy rating and set a $84.00 price objective on shares of Itron in a research report on Friday, November 3rd. JMP Securities set a $102.00 price objective on shares of Itron and gave the company a buy rating in a research report on Thursday, October 12th. Finally, BidaskClub upgraded shares of Itron from a hold rating to a buy rating in a research report on Thursday, December 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. Itron has an average rating of Buy and an average price target of $82.18.
Shares of Itron (ITRI) traded down $0.75 on Tuesday, reaching $69.40. 411,300 shares of the company were exchanged, compared to its average volume of 479,900. The company has a market cap of $2,740.00, a price-to-earnings ratio of 40.58, a PEG ratio of 0.94 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 has a 12-month low of $57.80 and a 12-month high of $79.95.
In related news, COO Thomas Deitrich sold 11,899 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $69.27, for a total transaction of $824,243.73. Following the transaction, the chief operating officer now owns 82,776 shares of the company’s stock, valued at $5,733,893.52. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Scopia Capital Management Lp acquired 75,193 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were acquired at an average cost of $67.34 per share, for a total transaction of $5,063,496.62. The disclosure for this purchase can be found here. Insiders bought 750,261 shares of company stock valued at $51,839,736 over the last three months. 2.03% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. acquired a new position in Itron during the third quarter valued at approximately $23,661,000. Cramer Rosenthal Mcglynn LLC acquired a new position in Itron during the third quarter valued at approximately $18,102,000. Renaissance Technologies LLC grew its stake in shares of Itron by 38.1% in the second quarter. Renaissance Technologies LLC now owns 719,661 shares of the scientific and technical instruments company’s stock worth $48,757,000 after acquiring an additional 198,700 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of Itron by 13.5% in the third quarter. Neuberger Berman Group LLC now owns 688,848 shares of the scientific and technical instruments company’s stock worth $53,351,000 after acquiring an additional 82,196 shares during the last quarter. Finally, Gotham Asset Management LLC acquired a new stake in shares of Itron in the second quarter worth $4,886,000. 93.54% of the stock is currently owned by hedge funds and other institutional investors.
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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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