.png "Itron (NASDAQ: ITRI)")
Canaccord Genuity analyst Chip Moore maintained a Buy rating on Itron (NASDAQ: ITRI) on May 14 and set a price target of $84. The company’s shares closed yesterday at $59.70, close to its 52-week low of $59.65.
Moore observed:
“With integration of a major competitor (Silver Spring Networks) now underway, we find conditions in place (conservative synergy assumptions, combined competitive positioning, attractive valuation, etc.) to once again become constructive on Itron.”
According to TipRanks.com, Moore is a 3-star analyst with an average return of 8.6% and a 58.3% success rate. Moore covers the Consumer Goods sector, focusing on stocks such as Renewable Energy Group, SolarEdge Technologies, and Darling Ingredients.
Currently, the analyst consensus on Itron is Strong Buy and the average price target is $86.50, representing a 44.9% upside.
In a report issued on May 15, Oppenheimer also assigned a Buy rating to the stock with a $77 price target.
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Based on Itron’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $146 million. In comparison, last year the company had a net profit of $15.85 million.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock.
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Itron, Inc. is a technology and services company, which engages in the provision of solutions that measure, manage, and analyze energy and water use. It operates through the following segments: Electricity, Gas, and Water.
