Itron (NASDAQ:ITRI) Coverage Initiated at Stephens

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Stephens began coverage on shares of Itron (NASDAQ:ITRI) in a report released on Monday morning, BenzingaRatingsTable reports. The firm issued an equal weight rating and a $64.00 price target on the scientific and technical instruments company’s stock.

Several other research firms have also weighed in on ITRI. ValuEngine lowered Valero Energy from a hold rating to a sell rating in a research note on Wednesday, May 8th. BidaskClub lowered Zebra Technologies from a buy rating to a hold rating in a research note on Wednesday, May 8th. Robert W. Baird upgraded Duluth from a neutral rating to an outperform rating and set a $22.00 price objective on the stock in a research note on Tuesday, May 7th. Citigroup set a $210.00 price objective on Constellation Brands and gave the company a hold rating in a research note on Monday, July 1st. Finally, Zacks Investment Research upgraded Gerdau from a sell rating to a hold rating in a research note on Monday, May 13th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $68.70.

ITRI stock opened at $61.07 on Monday. Itron has a 1-year low of $44.35 and a 1-year high of $66.95. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 0.93 and a beta of 1.23. The firm has a 50 day moving average of $60.05. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.07 and a current ratio of 1.40.

Itron (NASDAQ:ITRI) last released its quarterly earnings data on Monday, May 6th. The scientific and technical instruments company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.27. Itron had a return on equity of 17.97% and a net margin of 1.87%. The company had revenue of $614.58 million for the quarter, compared to analyst estimates of $591.88 million. During the same period in the prior year, the company posted $0.13 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. On average, research analysts expect that Itron will post 2.63 earnings per share for the current fiscal year.

In related news, insider Philip Mezey sold 31,414 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $62.98, for a total transaction of $1,978,453.72. Following the sale, the insider now directly owns 74,624 shares in the company, valued at approximately $4,699,819.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Scopia Capital Management Lp sold 22,154 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $50.30, for a total value of $1,114,346.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 461,200 shares of company stock worth $25,195,099. 2.35% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Impax Asset Management Group plc boosted its position in Itron by 15.3% in the 4th quarter. Impax Asset Management Group plc now owns 2,514,162 shares of the scientific and technical instruments company’s stock valued at $118,895,000 after buying an additional 333,843 shares during the last quarter. Neuberger Berman Group LLC boosted its position in Itron by 48.6% in the 1st quarter. Neuberger Berman Group LLC now owns 1,159,467 shares of the scientific and technical instruments company’s stock valued at $54,087,000 after buying an additional 378,967 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Itron by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,026,449 shares of the scientific and technical instruments company’s stock valued at $48,541,000 after buying an additional 26,319 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in Itron by 12.3% in the 1st quarter. Frontier Capital Management Co. LLC now owns 893,744 shares of the scientific and technical instruments company’s stock valued at $41,693,000 after buying an additional 98,020 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in Itron by 13.6% in the 1st quarter. Clearbridge Investments LLC now owns 441,200 shares of the scientific and technical instruments company’s stock valued at $20,582,000 after buying an additional 52,656 shares during the last quarter. Hedge funds and other institutional investors own 97.56% of the company’s stock.

About Itron

Itron, Inc, a technology and service company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.

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Analyst Recommendations for Itron (NASDAQ:ITRI)

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