Itron’s (ITRI) Buy Rating Reiterated at Needham & Company LLC
Needham & Company LLC reaffirmed their buy rating on shares of Itron, Inc. (NASDAQ:ITRI) in a research note published on Friday morning. Needham & Company LLC currently has a $84.00 target price on the scientific and technical instruments company’s stock.
Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Itron from a hold rating to a buy rating and set a $81.00 price objective for the company in a research report on Monday, August 28th. JMP Securities set a $88.00 price objective on shares of Itron and gave the stock a buy rating in a research report on Tuesday, July 18th. Canaccord Genuity restated a buy rating and set a $78.00 price objective on shares of Itron in a research report on Friday, July 14th. Cowen and Company set a $60.00 price objective on shares of Itron and gave the stock a hold rating in a research report on Friday, July 21st. Finally, Argus restated a buy rating and set a $80.00 price objective (up from $78.00) on shares of Itron in a research report on Tuesday, September 12th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $81.78.
Shares of Itron (NASDAQ:ITRI) opened at $69.38 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.26 and a debt-to-equity ratio of 0.38. The stock has a market cap of $2,686.56, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 1.10 and a beta of 1.07. Itron has a 1 year low of $56.79 and a 1 year high of $79.95.
Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Wednesday, November 1st. The scientific and technical instruments company reported $0.77 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.12). The company had revenue of $486.75 million for the quarter, compared to analyst estimates of $526.55 million. Itron had a return on equity of 14.84% and a net margin of 3.42%. The company’s revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the business earned $0.77 earnings per share. sell-side analysts anticipate that Itron will post 3 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its position in shares of Itron by 45.0% in the third quarter. BNP Paribas Arbitrage SA now owns 26,806 shares of the scientific and technical instruments company’s stock valued at $2,076,000 after buying an additional 8,317 shares in the last quarter. Chase Investment Counsel Corp acquired a new stake in shares of Itron in the third quarter valued at approximately $461,000. FDx Advisors Inc. bought a new position in Itron in the third quarter valued at approximately $355,000. Global X MANAGEMENT CO LLC increased its stake in Itron by 15.4% in the third quarter. Global X MANAGEMENT CO LLC now owns 17,019 shares of the scientific and technical instruments company’s stock valued at $1,318,000 after acquiring an additional 2,268 shares during the last quarter. Finally, Bessemer Group Inc. bought a new position in Itron in the third quarter valued at approximately $620,000. 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.
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