Itron (NASDAQ:ITRI) PT Raised to $115.00 at Canaccord Genuity Group

Itron (NASDAQ:ITRI) had its price objective lifted by Canaccord Genuity Group from $105.00 to $115.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. Canaccord Genuity Group’s price objective indicates a potential upside of 7.47% from the company’s current price.

A number of other research firms have also recently commented on ITRI. Raymond James cut shares of Itron from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 4th. JPMorgan Chase & Co. upped their price objective on shares of Itron from $77.00 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. Canaccord Genuity Group raised shares of Itron from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $105.00 in a research report on Tuesday, February 27th. TheStreet raised Itron from a “c” rating to a “b-” rating in a research report on Monday, February 26th. Finally, Oppenheimer upped their price target on Itron from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $103.60.

Itron Price Performance

ITRI stock traded up $7.19 during mid-day trading on Friday, reaching $107.01. The company’s stock had a trading volume of 1,235,792 shares, compared to its average volume of 435,543. The stock has a market cap of $4.91 billion, a PE ratio of 50.96, a P/E/G ratio of 1.02 and a beta of 1.38. The company’s 50 day moving average is $91.94 and its two-hundred day moving average is $77.39. Itron has a fifty-two week low of $56.11 and a fifty-two week high of $107.11. The company has a current ratio of 1.95, a quick ratio of 1.43 and a debt-to-equity ratio of 0.34.

Itron (NASDAQ:ITRI) last released its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.39. Itron had a return on equity of 12.27% and a net margin of 4.46%. The company had revenue of $603.44 million for the quarter, compared to analyst estimates of $579.49 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. Equities research analysts expect that Itron will post 3.61 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Donald L. Reeves III sold 383 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $28,866.71. Following the sale, the senior vice president now owns 8,708 shares of the company’s stock, valued at $656,321.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Itron news, SVP Donald L. Reeves III sold 383 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $28,866.71. Following the sale, the senior vice president now directly owns 8,708 shares in the company, valued at $656,321.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas Deitrich sold 1,912 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $144,107.44. Following the transaction, the chief executive officer now directly owns 169,073 shares of the company’s stock, valued at $12,743,032.01. The disclosure for this sale can be found here. Insiders have sold a total of 30,467 shares of company stock worth $2,752,520 in the last quarter. 1.45% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Itron by 293.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,198 shares of the scientific and technical instruments company’s stock worth $388,000 after buying an additional 3,131 shares during the period. Jennison Associates LLC lifted its position in Itron by 19.3% during the 1st quarter. Jennison Associates LLC now owns 5,625 shares of the scientific and technical instruments company’s stock worth $520,000 after acquiring an additional 909 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of Itron in the 1st quarter valued at approximately $346,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Itron by 10.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 110,697 shares of the scientific and technical instruments company’s stock valued at $10,242,000 after purchasing an additional 10,716 shares during the last quarter. Finally, Braun Stacey Associates Inc. raised its stake in shares of Itron by 18.2% during the first quarter. Braun Stacey Associates Inc. now owns 255,497 shares of the scientific and technical instruments company’s stock worth $23,638,000 after purchasing an additional 39,309 shares during the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

About Itron

Itron, Inc, a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products.