Canaccord Genuity restated a “buy” rating and set a $57.00 target price on shares of Itron in a research report on Friday. The latest trading activity showed that the Itron, Inc. share price went up +82.42% from its 52-week low of $27.93 and trades lower -3.36% comparing its 52-week high of $52.72.
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The technical analysis of Itron, Inc. visibly illustrates that the 50-day MA of Itron, Inc.is $45.63, and stock is trading $7.76 points away or +17.01% from its 50-day moving average of $45.63. Zacks Investment Research upgraded shares of Itron from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Thursday, May 19th.
Itron shares have climbed 32 percent since the beginning of the year.
Out of 5 analysts covering Itron (NASDAQ:ITRI), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. An earnings surprise in either a positive or negative direction can often result in significant stock price movement immediately after the earnings announcement, but can also have a long-term effect as well.
Itron expects full-year earnings in the range of $2.20 to $2.45 per share, with revenue in the range of $1.95 billion to $2 billion. During the same period in the prior year, the firm earned ($0.39) EPS.
10/07/2015 – Gabelli began new coverage on Itron, Inc. giving the company a “hold” rating. The stock now has an average rating of “Buy” and an average price target of $49.00.
A number of institutional investors recently made changes to their positions in the stock. Three months ago the stock had a 1 rating. Bank of Montreal Can purchased a new stake in Itron during the second quarter valued at $272,000.
In other news, Chairman Jon E. Eliassen sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $45.00, for a total value of $90,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Finally, Alpha Windward LLC bought a new position in Itron during the second quarter worth $416,000.
Itron, Inc. (NASDAQ:ITRI) PEG ratio sits at 1.01.
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Excluding the impact of foreign currency, revenues increased $49 million, or 10 percent, driven by growth in all segments, particularly in the Electricity and Gas segments. The Company is the supplier of electricity metering solutions, including standard meters and advanced and smart metering systems.
