Itron, Inc. (ITRI) Stock Rating Reaffirmed by Oppenheimer Holdings, Inc.

Itron, Inc. (NASDAQ:ITRI)‘s stock had its “outperform” rating restated by stock analysts at Oppenheimer Holdings, Inc. in a research report issued to clients and investors on Friday, August 4th. They presently have a $78.00 target price on the scientific and technical instruments company’s stock, up from their previous target price of $75.00. Oppenheimer Holdings, Inc.’s target price indicates a potential upside of 9.63% from the stock’s current price. Oppenheimer Holdings also issued estimates for Itron’s Q3 2017 earnings at $0.96 EPS, Q4 2017 earnings at $0.99 EPS, FY2017 earnings at $3.05 EPS, FY2019 earnings at $4.51 EPS and FY2020 earnings at $5.39 EPS.

Other equities research analysts also recently issued research reports about the company. Cowen and Company set a $60.00 target price on Itron and gave the stock a “hold” rating in a research report on Friday, July 21st. Robert W. Baird reiterated an “outperform” rating and issued a $73.00 price objective on shares of Itron in a research report on Thursday, July 13th. BidaskClub downgraded Itron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Guggenheim initiated coverage on Itron in a research note on Tuesday, June 20th. They issued a “buy” rating and a $81.00 target price on the stock. Finally, Canaccord Genuity reissued a “buy” rating and issued a $72.00 target price on shares of Itron in a research note on Friday, May 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Itron presently has an average rating of “Buy” and a consensus target price of $79.00.

Shares of Itron (NASDAQ:ITRI) traded down 2.06% during trading on Friday, reaching $71.15. The company’s stock had a trading volume of 241,683 shares. Itron has a 52-week low of $47.20 and a 52-week high of $75.60. The stock has a market cap of $2.75 billion, a P/E ratio of 88.06 and a beta of 1.10. The stock has a 50-day moving average of $71.69 and a 200-day moving average of $66.01.

Itron (NASDAQ:ITRI) last posted its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03. The firm had revenue of $503.10 million for the quarter, compared to the consensus estimate of $491.80 million. Itron had a return on equity of 15.43% and a net margin of 1.60%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.65 earnings per share. Analysts predict that Itron will post $3.07 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in ITRI. BlackRock Inc. boosted its position in shares of Itron by 153,249.9% in the first quarter. BlackRock Inc. now owns 4,339,801 shares of the scientific and technical instruments company’s stock worth $263,427,000 after buying an additional 4,336,971 shares during the period. Wellington Management Group LLP boosted its position in shares of Itron by 65.7% in the first quarter. Wellington Management Group LLP now owns 1,786,445 shares of the scientific and technical instruments company’s stock worth $108,437,000 after buying an additional 708,009 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Itron by 94.2% in the second quarter. Bank of New York Mellon Corp now owns 895,681 shares of the scientific and technical instruments company’s stock worth $60,683,000 after buying an additional 434,500 shares during the period. Vanguard Group Inc. boosted its position in shares of Itron by 7.7% in the first quarter. Vanguard Group Inc. now owns 3,795,716 shares of the scientific and technical instruments company’s stock worth $230,400,000 after buying an additional 271,194 shares during the period. Finally, Norges Bank bought a new position in shares of Itron during the fourth quarter worth about $15,064,000. 95.25% of the stock is currently owned by hedge funds and other institutional investors.

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.

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