Itron (NASDAQ:ITRI) had its target price lowered by equities research analysts at Oppenheimer from $127.00 to $105.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an "outperform" rating on the scientific and technical instruments company's stock. Oppenheimer's target price indicates a potential upside of 22.92% from the stock's previous close.
A number of other equities research analysts also recently issued reports on ITRI. Zacks Investment Research downgraded shares of Itron from a "hold" rating to a "strong sell" rating and set a $123.00 price target on the stock. in a report on Friday, February 26th. Piper Sandler began coverage on Itron in a research report on Thursday, April 1st. They set an "overweight" rating and a $120.00 target price for the company. Canaccord Genuity lowered their price objective on shares of Itron from $140.00 to $126.00 and set a "buy" rating on the stock in a research report on Tuesday. Argus upgraded Itron from a "hold" rating to a "buy" rating and set a $140.00 price target on the stock in a research report on Tuesday, March 9th. Finally, Morgan Stanley started coverage on Itron in a report on Wednesday, March 31st. They set an "equal weight" rating and a $90.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of "Buy" and a consensus price target of $101.50.
Itron stock traded down $3.03 during trading on Tuesday, hitting $85.42. The stock had a trading volume of 1,241 shares, compared to its average volume of 569,260. The stock's 50 day moving average is $90.43 and its two-hundred day moving average is $89.97. Itron has a 1 year low of $50.87 and a 1 year high of $122.31. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of -52.92 and a beta of 1.18. The company has a quick ratio of 1.95, a current ratio of 2.30 and a debt-to-equity ratio of 1.65.
Itron (NASDAQ:ITRI) last posted its earnings results on Monday, May 3rd. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.10. The firm had revenue of $519.60 million during the quarter, compared to the consensus estimate of $547.37 million. Itron had a negative net margin of 2.85% and a positive return on equity of 9.74%. The company's revenue was down 13.2% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share. As a group, equities research analysts anticipate that Itron will post 1.48 EPS for the current fiscal year.
In related news, SVP Michel Cadieux sold 6,316 shares of the stock in a transaction that occurred on Wednesday, February 24th. The shares were sold at an average price of $95.25, for a total transaction of $601,599.00. Following the transaction, the senior vice president now owns 29,542 shares in the company, valued at $2,813,875.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.72% of the company's stock.
Large investors have recently modified their holdings of the company. BlackRock Inc. increased its holdings in Itron by 6.2% during the fourth quarter. BlackRock Inc. now owns 6,167,292 shares of the scientific and technical instruments company's stock valued at $591,444,000 after buying an additional 360,091 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Itron by 93.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,690,335 shares of the scientific and technical instruments company's stock valued at $162,104,000 after purchasing an additional 814,324 shares during the period. UBS Asset Management Americas Inc. increased its position in Itron by 49.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 876,706 shares of the scientific and technical instruments company's stock worth $84,076,000 after buying an additional 290,137 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Itron by 39.2% during the 1st quarter. Victory Capital Management Inc. now owns 832,468 shares of the scientific and technical instruments company's stock valued at $73,798,000 after acquiring an additional 234,533 shares during the period. Finally, Robeco Schweiz AG raised its stake in Itron by 41.4% during the 1st quarter. Robeco Schweiz AG now owns 810,000 shares of the scientific and technical instruments company's stock worth $71,807,000 after acquiring an additional 237,000 shares during the period. Hedge funds and other institutional investors own 96.45% of the company's stock.
Itron, Inc, a technology and service company, provides end-to-end solutions that help manage operations in the energy, water, and smart city space 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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