Itron (ITRI) Shares Down 1.9%

Itron (NASDAQ:ITRI)’s share price was down 1.9% during trading on Wednesday . The company traded as low as $60.00 and last traded at $60.25. Approximately 20,176 shares traded hands during trading, a decline of 92% from the average daily volume of 261,984 shares. The stock had previously closed at $61.40.

A number of equities analysts recently commented on ITRI shares. BidaskClub upgraded Itron from a “hold” rating to a “buy” rating in a research report on Friday, January 19th. Cowen upgraded Itron from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $80.00 to $84.00 in a research report on Thursday, March 1st. Oppenheimer reiterated a “buy” rating and set a $78.00 price objective on shares of Itron in a research report on Monday, January 29th. JMP Securities set a $108.00 price objective on Itron and gave the stock a “buy” rating in a research report on Thursday, March 1st. Finally, Macquarie started coverage on Itron in a research report on Thursday, March 22nd. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $83.36.

The company has a quick ratio of 1.29, a current ratio of 1.46 and a debt-to-equity ratio of 1.57. The stock has a market cap 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.

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

In other Itron news, insider Philip Mezey sold 16,694 shares of Itron stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $65.15, for a total value of $1,087,614.10. Following the sale, the insider now owns 93,341 shares in the company, valued at $6,081,166.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas S. Glanville sold 2,000 shares of Itron stock in a transaction on Monday, March 5th. The shares were sold at an average price of $74.02, for a total value of $148,040.00. Following the completion of the sale, the director now owns 13,390 shares in the company, valued at approximately $991,127.80. The disclosure for this sale can be found here. Insiders sold 33,402 shares of company stock worth $2,275,266 in the last 90 days. Company insiders own 2.03% of the company’s stock.

A number of large investors have recently bought and sold shares of ITRI. Municipal Employees Retirement System of Michigan grew its stake in shares of Itron by 5.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 13,630 shares of the scientific and technical instruments company’s stock valued at $975,000 after buying an additional 740 shares in the last quarter. Dubuque Bank & Trust Co. grew its stake in shares of Itron by 12.9% in the fourth quarter. Dubuque Bank & Trust Co. now owns 7,186 shares of the scientific and technical instruments company’s stock valued at $490,000 after buying an additional 823 shares in the last quarter. Flinton Capital Management LLC grew its stake in shares of Itron by 22.7% in the fourth quarter. Flinton Capital Management LLC now owns 4,536 shares of the scientific and technical instruments company’s stock valued at $309,000 after buying an additional 840 shares in the last quarter. Profund Advisors LLC grew its stake in shares of Itron by 17.9% in the fourth quarter. Profund Advisors LLC now owns 5,606 shares of the scientific and technical instruments company’s stock valued at $382,000 after buying an additional 852 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in shares of Itron by 6.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 14,700 shares of the scientific and technical instruments company’s stock valued at $1,003,000 after buying an additional 900 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

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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