Itron (ITRI) Downgraded by BidaskClub

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.

Itron (NASDAQ:ITRI) last released its quarterly earnings data 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). Itron had a net margin of 3.42% and a return on equity of 14.84%. The business had revenue of $486.75 million for the quarter, compared to the consensus estimate of $526.55 million. During the same quarter last year, the business earned $0.77 EPS. Itron’s revenue for the quarter was down 4.0% compared to the same quarter last year. equities research analysts forecast that Itron will post 2.99 EPS for the current fiscal year.

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.

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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.

Analyst Recommendations for Itron (NASDAQ:ITRI)

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