Itron (NASDAQ:ITRI) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
Several other equities analysts have also commented on the stock. Argus lowered shares of Itron from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. Zacks Investment Research lowered shares of Itron from a “hold” rating to a “sell” rating in a research report on Monday, November 6th. Needham & Company LLC restated a “buy” rating and issued a $84.00 target price on shares of Itron in a report on Friday, November 3rd. JMP Securities set a $102.00 target price on shares of Itron and gave the stock a “buy” rating in a report on Thursday, October 12th. Finally, Canaccord Genuity restated a “hold” rating and issued a $78.00 target price on shares of Itron in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $81.78.
Itron (ITRI) opened at $68.55 on Friday. Itron has a 12-month low of $57.80 and a 12-month high of $79.95. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.26 and a current ratio of 1.67. The company has a market cap of $2,718.51, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 1.12 and a beta of 1.00.
In related news, COO Thomas Deitrich sold 11,899 shares of Itron stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $69.27, for a total transaction of $824,243.73. Following the completion of the sale, the chief operating officer now owns 82,776 shares in the company, valued at approximately $5,733,893.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Scopia Capital Management Lp acquired 2,160 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were bought at an average price of $69.91 per share, with a total value of $151,005.60. The disclosure for this purchase can be found here. Insiders bought a total of 632,586 shares of company stock valued at $43,768,264 in the last 90 days. Company insiders own 2.03% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in Itron by 0.9% during the 2nd quarter. BlackRock Inc. now owns 4,377,905 shares of the scientific and technical instruments company’s stock valued at $296,603,000 after buying an additional 38,104 shares in the last quarter. Bank of New York Mellon Corp increased its position in Itron by 94.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 895,681 shares of the scientific and technical instruments company’s stock valued at $60,683,000 after purchasing an additional 434,500 shares during the period. State Street Corp increased its position in Itron by 5.4% during the 2nd quarter. State Street Corp now owns 839,226 shares of the scientific and technical instruments company’s stock valued at $56,857,000 after purchasing an additional 43,230 shares during the period. Renaissance Technologies LLC increased its position in Itron by 38.1% during the 2nd quarter. Renaissance Technologies LLC now owns 719,661 shares of the scientific and technical instruments company’s stock valued at $48,757,000 after purchasing an additional 198,700 shares during the period. Finally, Neuberger Berman Group LLC increased its position in Itron by 13.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 688,848 shares of the scientific and technical instruments company’s stock valued at $53,351,000 after purchasing an additional 82,196 shares during the period. Institutional investors own 93.54% of the company’s stock.
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.
Receive News & Ratings for Itron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Itron and related companies with MarketBeat.com's FREE daily email newsletter.