Itron, Inc. (ITRI) Receives Buy Rating from Needham & Company LLC

Itron, Inc. (NASDAQ:ITRI)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued on Friday. They presently have a $84.00 price objective on the scientific and technical instruments company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 21.08% from the stock’s previous close.

Other analysts also recently issued reports about the company. Cowen and Company set a $60.00 target price on Itron and gave the company a “hold” rating in a research note on Friday, July 21st. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $78.00 target price (up from $75.00) on shares of Itron in a research note on Friday, August 4th. Robert W. Baird restated a “hold” rating and issued a $77.00 target price on shares of Itron in a research note on Tuesday, September 12th. BidaskClub downgraded Itron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Finally, Canaccord Genuity downgraded Itron from a “buy” rating to a “hold” rating and set a $78.00 target price for the company. in a research note on Tuesday, September 19th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $81.78.

Shares of Itron (NASDAQ:ITRI) traded down $8.93 on Friday, hitting $69.38. The stock had a trading volume of 345,853 shares, compared to its average volume of 200,950. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.67. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 1.07 and a beta of 1.07.

Itron (NASDAQ:ITRI) last issued its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.77 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.12). The firm had revenue of $486.75 million during the quarter, compared to analyst estimates of $526.55 million. Itron had a net margin of 3.42% and a return on equity of 14.84%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share. research analysts forecast that Itron will post 2.97 EPS for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in ITRI. PNC Financial Services Group Inc. lifted its position in Itron by 2.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,610 shares of the scientific and technical instruments company’s stock valued at $109,000 after acquiring an additional 31 shares in the last quarter. Pacad Investment Ltd. lifted its position in Itron by 21.4% in the 2nd quarter. Pacad Investment Ltd. now owns 1,700 shares of the scientific and technical instruments company’s stock valued at $115,000 after acquiring an additional 300 shares in the last quarter. Riverhead Capital Management LLC lifted its position in Itron by 74.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,097 shares of the scientific and technical instruments company’s stock valued at $142,000 after acquiring an additional 897 shares in the last quarter. SG Americas Securities LLC lifted its position in Itron by 1.5% in the 1st quarter. SG Americas Securities LLC now owns 2,366 shares of the scientific and technical instruments company’s stock valued at $144,000 after acquiring an additional 36 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in Itron by 10.9% in the 2nd quarter. Royal Bank of Canada now owns 3,042 shares of the scientific and technical instruments company’s stock valued at $206,000 after acquiring an additional 299 shares in the last quarter. 93.49% of the stock is currently owned by institutional investors and hedge funds.

Itron Company Profile

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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