Itron, Inc. (NASDAQ:ITRI – Get Rating)'s share price reached a new 52-week low on Friday . The company traded as low as $43.18 and last traded at $43.93, with a volume of 386390 shares traded. The stock had previously closed at $45.25.
Analysts Set New Price Targets
ITRI has been the subject of a number of recent analyst reports. Morgan Stanley lowered their price objective on Itron from $60.00 to $55.00 and set an "equal weight" rating for the company in a research report on Thursday, June 9th. JPMorgan Chase & Co. cut Itron from an "overweight" rating to a "neutral" rating and set a $65.00 price target for the company. in a research report on Monday, August 8th. StockNews.com cut Itron from a "buy" rating to a "hold" rating in a research report on Friday, August 5th. Stephens cut Itron from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $65.00 to $55.00 in a research report on Friday, August 5th. Finally, Raymond James lowered their price target on Itron from $72.00 to $68.00 and set a "strong-buy" rating for the company in a research report on Tuesday, July 12th. Eight equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $62.13.
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Itron Price Performance
The stock has a 50 day simple moving average of $51.02 and a two-hundred day simple moving average of $50.00. The firm has a market cap of $1.98 billion, a PE ratio of -20.35 and a beta of 1.29. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.26 and a current ratio of 1.64.
Itron (NASDAQ:ITRI – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The scientific and technical instruments company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.14). Itron had a negative net
margin of 5.15% and a positive return on equity of 4.45%. The company had revenue of $431.88 million for the quarter, compared to analysts' expectations of $488.53 million. During the same quarter in the previous year, the business posted $0.28 EPS. The business's quarterly revenue was down 11.8% on a year-over-year basis. Sell-side analysts expect that Itron, Inc. will post 0.77 earnings per share for the current year.
Insider Activity at Itron
In related news, CEO Thomas Deitrich sold 2,605 shares of Itron stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $47.66, for a total value of $124,154.30. Following the completion of the transaction, the chief executive officer now owns 146,997 shares in the company, valued at approximately $7,005,877.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 2,974 shares of company stock worth $141,918 in the last 90 days. Corporate insiders own 1.37% of the company's stock.
Institutional Investors Weigh In On Itron
Large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in Itron by 105.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 698 shares of the scientific and technical instruments company's stock worth $34,000 after buying an additional 358 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in Itron during the 1st quarter worth approximately $36,000. Nisa Investment Advisors LLC increased its stake in Itron by 122.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the scientific and technical instruments company's stock worth $54,000 after buying an additional 600 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Itron by 30.7% during the 1st quarter. US Bancorp DE now owns 1,040 shares of the scientific and technical instruments company's stock worth $54,000 after purchasing an additional 244 shares during the last quarter. Finally, Eagle Bay Advisors LLC boosted its holdings in shares of Itron by 106.3% during the 2nd quarter. Eagle Bay Advisors LLC now owns 1,407 shares of the scientific and technical instruments company's stock worth $70,000 after purchasing an additional 725 shares during the last quarter. 97.36% of the stock is currently owned by hedge funds and other institutional investors.
About Itron
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Itron, Inc, a technology and service company, provides end-to-end solutions that help manage operations in the energy, water, and smart city space worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.
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