Zacks Investment Research upgraded shares of Itron, Inc. (NASDAQ:ITRI) from a hold rating to a buy rating in a report published on Monday. They currently have $81.00 price objective on the scientific and technical instruments company’s stock.

According to Zacks, “Itron’s sales guidance range of 2017 depicts a year over year growth of 1.6% at the midpoint, reflecting sound business performance and the addition of distributed energy management solutions to its platform. Its favorable mix of business, in addition to operational efficiencies and greater day-to-day business discipline, will drive earnings growth. Itron continues to focus on expanding its portfolio of outcome-based solutions, aimed at higher growth opportunities utilizing the power of the OpenWay Riva platform. The company’s restructuring projects will help in reducing costs and increase manufacturing flexibility. Moreover, the Comverge acquisition, strong bookings and backlog, and new projects are anticipated to fuel growth. The company outperformed the industry over the past six months. The company has a positive record of earnings surprises in the last few quarters. Its estimates have also gone up lately. “

A number of other equities analysts have also weighed in on the company. Guggenheim started coverage on Itron in a research note on Tuesday, June 20th. They set a buy rating and a $81.00 price objective for the company. BidaskClub lowered Itron from a strong-buy rating to a buy rating in a research note on Thursday, June 22nd. JMP Securities set a $88.00 price objective on Itron and gave the company a buy rating in a research note on Tuesday, July 18th. Canaccord Genuity reiterated a buy rating and set a $78.00 price objective on shares of Itron in a research note on Friday, July 14th. Finally, Cowen and Company set a $60.00 price objective on Itron and gave the company a hold rating in a research note on Friday, July 21st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $80.11.

Shares of Itron (NASDAQ:ITRI) opened at 72.00 on Monday. The firm’s 50-day moving average price is $72.27 and its 200 day moving average price is $67.11. Itron has a 12-month low of $51.55 and a 12-month high of $75.60. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 89.11 and a beta of 1.08.

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

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Several large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in shares of Itron by 2.0% during 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 during the period. SG Americas Securities LLC grew its position in shares of Itron by 1.5% during 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 during the period. Municipal Employees Retirement System of Michigan grew its position in shares of Itron by 0.6% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 10,810 shares of the scientific and technical instruments company’s stock valued at $656,000 after acquiring an additional 60 shares during the period. Hanseatic Management Services Inc. grew its position in shares of Itron by 0.3% during the 2nd quarter. Hanseatic Management Services Inc. now owns 23,807 shares of the scientific and technical instruments company’s stock valued at $1,613,000 after acquiring an additional 61 shares during the period. Finally, Louisiana State Employees Retirement System grew its position in shares of Itron by 0.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 13,700 shares of the scientific and technical instruments company’s stock valued at $928,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 93.81% of the company’s stock.

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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