Itron, Inc. (NASDAQ:ITRI) Receives Average Rating of “Moderate Buy” from Analysts

Itron, Inc. (NASDAQ:ITRI) has received an average rating of “Moderate Buy” from the twelve research firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $123.92.

A number of equities analysts have recently weighed in on ITRI shares. TD Cowen lifted their price target on shares of Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Oppenheimer increased their price target on Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Janney Montgomery Scott began coverage on Itron in a report on Friday, September 27th. They set a “buy” rating and a $131.00 price objective on the stock. Robert W. Baird raised their target price on shares of Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Roth Mkm upped their price target on shares of Itron from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st.

Itron Stock Up 0.9 %

Shares of NASDAQ:ITRI opened at $105.36 on Monday. The company has a 50 day moving average of $112.52 and a 200-day moving average of $106.67. Itron has a one year low of $69.23 and a one year high of $124.90. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 21.59, a P/E/G ratio of 0.85 and a beta of 1.47. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83.

Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.71. Itron had a return on equity of 19.03% and a net margin of 9.37%. The company had revenue of $615.46 million for the quarter, compared to the consensus estimate of $596.41 million. During the same quarter in the prior year, the business posted $0.98 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts forecast that Itron will post 5.33 earnings per share for the current year.

Institutional Trading of Itron

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Itron by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock valued at $114,835,000 after purchasing an additional 5,630 shares during the last quarter. Handelsbanken Fonder AB grew its stake in Itron by 62.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 899,789 shares of the scientific and technical instruments company’s stock valued at $96,106,000 after buying an additional 346,615 shares during the last quarter. Select Equity Group L.P. lifted its position in Itron by 86.2% during the second quarter. Select Equity Group L.P. now owns 603,877 shares of the scientific and technical instruments company’s stock worth $59,760,000 after acquiring an additional 279,629 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Itron by 90.7% during the third quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company’s stock worth $54,658,000 after acquiring an additional 243,355 shares during the period. Finally, Vontobel Holding Ltd. grew its position in shares of Itron by 1.5% in the third quarter. Vontobel Holding Ltd. now owns 429,945 shares of the scientific and technical instruments company’s stock valued at $45,922,000 after purchasing an additional 6,310 shares during the last quarter. 96.19% of the stock is owned by institutional investors.

About Itron

Itron, Inc, a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products.