Baird Reiterates Outperform on Itron (ITRI) Following Solid 1Q Report - PT to 47

August 12, 2016 7:10 AM EDT
Get Alerts ITRI Hot Sheet
Price: $61.60 +0.74%

Rating Summary:
    10 Buy, 15 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 17 | New: 10
Trade ITRI Now!
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

Baird reiterated an Outperform rating and $47.00 price target on Itron (NASDAQ: ITRI) following the company's 1Q earnings report. ITRI reported revenue of $497.6M vs. consensus estimates of $450.8M. Non-GAAP EPS was $0.44 vs. consensus estimates of $0.32.

Analyst Ben Kallo commented, "Q1 beat our estimates across the board. Q1 bookings were softer than expected, but we believe that will pick up in Q2 due to recent wins. The company should provide Q2 results and updated guidance by September 12, which should provide more clarity moving forward. ITRI remains one of our favorite picks, and we believe the company is positioned for long-term growth."

For an analyst ratings summary and ratings history on Itron click here. For more ratings news on Itron click here.

Shares of Itron closed at $43.69 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Robert W Baird, Earnings, Ben Kallo

Add Your Comment