Guggenheim analyst Sophie Karp reiterated a Buy rating on Itron (NASDAQ: ITRI) yesterday and set a price target of $73. The company’s shares opened today at $57, close to its 52-week low of $55.26.
According to TipRanks.com, Karp is a 3-star analyst with an average return of 8.8% and a 54.3% success rate. Karp covers the Utilities sector, focusing on stocks such as Ormat Technologies, Spark Energy, and Avangrid.
Currently, the analyst consensus on Itron is a Strong Buy with an average price target of $76.83, a 34.8% upside from current levels. In a report released yesterday, Cowen & Co. also reiterated a Buy rating on the stock with a $80 price target.
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Based on Itron’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $2.66 million. In comparison, last year the company had a net profit of $14.1 million.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ITRI in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
