Itron (ITRI) Trading Down 1.9%

Itron (NASDAQ:ITRI) fell 1.9% on Wednesday . The company traded as low as $60.00 and last traded at $60.25. 20,176 shares were traded during mid-day trading, a decline of 92% from the average session volume of 261,984 shares. The stock had previously closed at $61.40.

Several research firms recently commented on ITRI. Macquarie began coverage on Itron in a research note on Thursday, March 22nd. They set a “neutral” rating for the company. Canaccord Genuity reissued a “buy” rating and set a $84.00 target price on shares of Itron in a research note on Wednesday, April 4th. BidaskClub cut Itron from a “buy” rating to a “hold” rating in a research note on Thursday, April 26th. Cowen raised Itron from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $80.00 to $84.00 in a research note on Thursday, March 1st. Finally, TheStreet cut Itron from a “b” rating to a “c” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $83.36.

The company has a market capitalization of $2.34 billion, a P/E ratio of 22.79, a price-to-earnings-growth ratio of 0.94 and a beta of 1.00. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.46 and a quick ratio of 1.29.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Monday, May 14th. The scientific and technical instruments company reported $0.13 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.13. The company had revenue of $607.00 million during the quarter, compared to the consensus estimate of $575.74 million. Itron had a positive return on equity of 13.59% and a negative net margin of 4.85%. Itron’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 EPS. research analysts anticipate that Itron will post 3.02 EPS for the current year.

In other Itron news, insider Philip Mezey sold 4,717 shares of Itron stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $71.10, for a total transaction of $335,378.70. Following the completion of the sale, the insider now directly owns 108,326 shares of the company’s stock, valued at approximately $7,701,978.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas S. Glanville sold 2,000 shares of Itron stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $74.02, for a total value of $148,040.00. Following the sale, the director now directly owns 13,390 shares of the company’s stock, valued at $991,127.80. The disclosure for this sale can be found here. Insiders have sold a total of 33,402 shares of company stock valued at $2,275,266 over the last ninety days. 2.03% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Delpha Capital Management LLC purchased a new stake in Itron during the 4th quarter worth about $134,000. Adviser Investments LLC purchased a new stake in shares of Itron in the 1st quarter valued at about $139,000. Capital Analysts LLC lifted its holdings in shares of Itron by 3,048.8% in the 4th quarter. Capital Analysts LLC now owns 3,936 shares of the scientific and technical instruments company’s stock valued at $192,000 after purchasing an additional 3,811 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new stake in shares of Itron in the 4th quarter valued at about $214,000. Finally, Domini Impact Investments LLC purchased a new stake in shares of Itron in the 1st quarter valued at about $223,000. 94.50% of the stock is owned by institutional investors.

Itron Company Profile

Itron, Inc, a technology company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Electricity, Gas, and Water. It offers standard electromechanical and electronic, gas, and water and heat meters; and smart electricity, gas, and water meters and communication modules.

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