J.P. Morgan Reaffirms Their Buy Rating on Itron (ITRI)

In a report released yesterday, Mark Strouse from J.P. Morgan maintained a Buy rating on Itron, with a price target of $133.00.

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According to TipRanks, Strouse is a 5-star analyst with an average return of 12.9% and a 51.69% success rate. Strouse covers the Technology sector, focusing on stocks such as Enphase Energy, Nextpower Inc, and Itron.

In addition to J.P. Morgan, Itron also received a Buy from Roth MKM’s Chip Moore in a report issued yesterday. However, on the same day, Guggenheim downgraded Itron (NASDAQ: ITRI) to a Hold.

Based on Itron’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $581.63 million and a net profit of $65.61 million. In comparison, last year the company earned a revenue of $615.46 million and had a net profit of $77.96 million

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ITRI in relation to earlier this year. Earlier this month, Laurie Ann Pulatie-Hahn, the SVP, HR of ITRI sold 142.00 shares for a total of $14,946.92.