Itron, Inc. (NASDAQ:ITRI – Get Rating) has been given a consensus rating of "Hold" by the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $62.13.
Several brokerages have commented on ITRI. Raymond James lowered their price target on Itron from $72.00 to $68.00 and set a "strong-buy" rating on the stock in a report on Tuesday, July 12th. Morgan Stanley lowered their price target on Itron from $60.00 to $55.00 and set an "equal weight" rating on the stock in a report on Thursday, June 9th. StockNews.com downgraded shares of Itron from a "buy" rating to a "hold" rating in a research note on Friday, August 5th. JPMorgan Chase & Co. downgraded shares of Itron from an "overweight" rating to a "neutral" rating and set a $65.00 price objective on the stock. in a research note on Monday, August 8th. Finally, Stephens downgraded shares of Itron from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $65.00 to $55.00 in a research note on Friday, August 5th.
Get Itron alerts:Itron Trading Down 2.7 %
NASDAQ:ITRI opened at $45.25 on Friday. The stock's 50 day moving average price is $51.02 and its 200 day moving average price is $50.00. Itron has a 52 week low of $43.18 and a 52 week high of $81.36. The company has a market capitalization of $2.04 billion, a P/E ratio of -21.14 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 announced its quarterly earnings results on Thursday, August 4th. The scientific and technical instruments company reported $0.07 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $488.53 million. During the same quarter last year, the business earned $0.28 EPS. The company's revenue for the quarter was down 11.8% on a year-over-year basis. On average, research analysts forecast that Itron will post 0.77 EPS for the current fiscal year.Insider Activity
In other news, CEO Thomas Deitrich sold 2,605 shares of the firm's stock in a transaction on 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 sale, the chief executive officer now directly owns 146,997 shares in the company, valued at $7,005,877.02. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 2,974 shares of company stock worth $141,918. 1.37% of the stock is owned by corporate insiders.
Institutional Trading of Itron
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. increased its stake in shares of Itron by 35.2% in the second quarter. Federated Hermes Inc. now owns 841,344 shares of the scientific and technical instruments company's stock valued at $41,587,000 after buying an additional 218,861 shares in the last quarter. Guinness Asset Management LTD increased its position in Itron by 2.2% in the second quarter. Guinness Asset Management LTD now owns 517,040 shares of the scientific and technical instruments company's stock worth $25,557,000 after purchasing an additional 10,927 shares during the period. Guinness Atkinson Asset Management Inc increased its position in Itron by 5.9% in the second quarter. Guinness Atkinson Asset Management Inc now owns 15,190 shares of the scientific and technical instruments company's stock worth $751,000 after purchasing an additional 846 shares during the period. Amundi increased its position in Itron by 345.3% in the second quarter. Amundi now owns 889,826 shares of the scientific and technical instruments company's stock worth $43,979,000 after purchasing an additional 689,990 shares during the period. Finally, Legal & General Group Plc increased its position in Itron by 2.2% in the second quarter. Legal & General Group Plc now owns 269,621 shares of the scientific and technical instruments company's stock worth $13,327,000 after purchasing an additional 5,740 shares during the period. 97.36% of the stock is currently owned by institutional investors and hedge funds.
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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