Itron (NASDAQ:ITRI) had its target price decreased by investment analysts at JMP Securities from $80.00 to $72.00 in a note issued to investors on Thursday, February 28th, The Fly reports. The brokerage presently has a “market outperform” rating on the scientific and technical instruments company’s stock. JMP Securities’ price target would suggest a potential upside of 52.03% from the company’s current price.
Other research analysts have also issued research reports about the stock. Needham & Company LLC reiterated a “buy” rating and set a $70.00 price objective on shares of Itron in a research note on Thursday, February 28th. Cowen reiterated a “buy” rating and set a $80.00 price objective on shares of Itron in a research note on Friday, November 9th. Guggenheim initiated coverage on shares of Itron in a report on Monday, December 3rd. They set a “buy” rating and a $70.00 target price for the company. Zacks Investment Research restated a “hold” rating on shares of Itron in a report on Tuesday, November 13th. Finally, Argus cut shares of Itron from a “buy” rating to a “hold” rating in a report on Thursday, November 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $72.00.
Shares of NASDAQ:ITRI traded down $0.89 during trading hours on Thursday, hitting $47.36. The stock had a trading volume of 248,620 shares, compared to its average volume of 248,117. Itron has a 1-year low of $44.35 and a 1-year high of $72.20. The firm has a market capitalization of $1.91 billion, a P/E ratio of 17.87, a PEG ratio of 0.78 and a beta of 1.34. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 1.35.
In other Itron news, CEO Philip Mezey sold 22,645 shares of the stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $60.75, for a total value of $1,375,683.75. Following the completion of the sale, the chief executive officer now owns 87,077 shares in the company, valued at approximately $5,289,927.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Michel Cadieux sold 3,350 shares of the stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $60.75, for a total transaction of $203,512.50. Following the completion of the sale, the senior vice president now owns 41,479 shares of the company’s stock, valued at approximately $2,519,849.25. The disclosure for this sale can be found here. Insiders sold a total of 252,487 shares of company stock valued at $13,017,262 in the last ninety days. Company insiders own 2.32% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its position in Itron by 10.2% in the 3rd quarter. FMR LLC now owns 247,629 shares of the scientific and technical instruments company’s stock worth $15,897,000 after buying an additional 22,823 shares in the last quarter. US Bancorp DE lifted its position in Itron by 135.6% in the 3rd quarter. US Bancorp DE now owns 18,870 shares of the scientific and technical instruments company’s stock worth $1,211,000 after buying an additional 10,860 shares in the last quarter. Alps Advisors Inc. purchased a new stake in Itron in the 3rd quarter worth approximately $684,000. Verition Fund Management LLC purchased a new stake in Itron in the 3rd quarter worth approximately $348,000. Finally, Vanguard Group Inc. lifted its position in Itron by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,407,421 shares of the scientific and technical instruments company’s stock worth $218,756,000 after buying an additional 73,730 shares in the last quarter. Institutional investors own 97.89% of the company’s stock.
Itron Company Profile
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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