Itron (ITRI) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Itron (NASDAQ:ITRI) from a hold rating to a sell rating in a research note released on Tuesday.

According to Zacks, “Itron anticipates 2017 adjusted earnings per share to be at or above the lower-end of the previous guidance range of $2.95-$3.15. It also estimates revenues to be at or modestly below the lower-end of the prior projection of $2.03-$2.06 billion. The company’s revenue outlook will be affected by the impact of market-driven delays in its water projects. Fluctuation in currency rates as well as increased competition in the advanced metering infrastructure (AMI) space will adversely affect its performance. The company’s shares also underperformed the industry over the past year.”

A number of other research analysts have also issued reports on the stock. Raymond James Financial started coverage on shares of Itron in a research note on Tuesday, January 2nd. They issued a strong-buy rating and a $84.00 target price on the stock. UBS Group started coverage on shares of Itron in a research note on Tuesday, January 2nd. They issued a strong-buy rating and a $84.00 target price on the stock. Canaccord Genuity reiterated a hold rating and issued a $78.00 target price on shares of Itron in a research note on Wednesday, December 27th. BidaskClub lowered shares of Itron from a buy rating to a hold rating in a research note on Friday, December 22nd. Finally, Argus lowered shares of Itron from a buy rating to a hold rating in a research note on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $82.18.

Itron (NASDAQ ITRI) traded up $0.50 during trading on Tuesday, hitting $71.70. 248,521 shares of the stock were exchanged, compared to its average volume of 320,713. The company has a market cap of $2,757.24, a P/E ratio of 41.93, a P/E/G ratio of 1.03 and a beta of 1.00. The company has a quick ratio of 1.26, a current ratio of 1.67 and a debt-to-equity ratio of 0.38. Itron has a fifty-two week low of $57.80 and a fifty-two week high of $79.95.

Itron (NASDAQ:ITRI) last released its quarterly earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.12). The business had revenue of $486.75 million for the quarter, compared to the consensus estimate of $526.55 million. Itron had a net margin of 3.42% and a return on equity of 14.84%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 EPS. equities research analysts anticipate that Itron will post 2.99 EPS for the current year.

In related news, major shareholder Scopia Capital Management Lp purchased 2,160 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were bought at an average cost of $69.91 per share, for a total transaction of $151,005.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Thomas Deitrich sold 11,899 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $69.27, for a total transaction of $824,243.73. Following the completion of the sale, the chief operating officer now owns 82,776 shares in the company, valued at $5,733,893.52. The disclosure for this sale can be found here. Insiders purchased a total of 750,261 shares of company stock worth $51,839,736 over the last quarter. 2.03% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ITRI. Legal & General Group Plc grew its position in Itron by 9.6% in the 2nd quarter. Legal & General Group Plc now owns 64,878 shares of the scientific and technical instruments company’s stock worth $4,394,000 after purchasing an additional 5,692 shares during the last quarter. Pacad Investment Ltd. grew its position in Itron by 21.4% in the 2nd quarter. Pacad Investment Ltd. now owns 1,700 shares of the scientific and technical instruments company’s stock worth $115,000 after purchasing an additional 300 shares during the last quarter. Systematic Financial Management LP grew its position in Itron by 0.5% in the 2nd quarter. Systematic Financial Management LP now owns 26,495 shares of the scientific and technical instruments company’s stock worth $1,795,000 after purchasing an additional 120 shares during the last quarter. Riverhead Capital Management LLC grew its position in Itron by 74.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,097 shares of the scientific and technical instruments company’s stock worth $142,000 after purchasing an additional 897 shares during the last quarter. Finally, Teachers Advisors LLC grew its position in Itron by 1.1% in the 2nd quarter. Teachers Advisors LLC now owns 322,127 shares of the scientific and technical instruments company’s stock worth $21,824,000 after purchasing an additional 3,399 shares during the last quarter. Institutional investors own 93.54% of the company’s stock.

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About Itron

Itron, Inc (Itron) is a technology and service company. The Company provides solutions that measure, manage and analyze energy and water use. The Company operates through three segments: Electricity, Gas and Water. It provides a portfolio of products, solutions, software and services to electric, gas and water utility customers across the globe.

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