JMP Securities Trims Itron (ITRI) Target Price to $72.00

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.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Wednesday, February 27th. The scientific and technical instruments company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.68 by $0.20. Itron had a negative net margin of 4.18% and a positive return on equity of 14.92%. The company had revenue of $587.00 million for the quarter, compared to analyst estimates of $600.73 million. During the same quarter last year, the business earned $1.01 earnings per share. Itron’s revenue was up 6.6% compared to the same quarter last year. Analysts predict that Itron will post 2.49 EPS for the current year.

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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Analyst Recommendations for Itron (NASDAQ:ITRI)

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