Itron (NASDAQ:ITRI) Price Target Raised to $115.00 at TD Cowen

Itron (NASDAQ:ITRI) had its target price raised by investment analysts at TD Cowen from $110.00 to $115.00 in a research report issued on Friday, MarketBeat reports. The brokerage currently has a “buy” rating on the scientific and technical instruments company’s stock. TD Cowen’s target price would suggest a potential upside of 7.47% from the company’s current price.

Several other research analysts have also recently issued reports on ITRI. Raymond James cut Itron from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 4th. Canaccord Genuity Group upgraded shares of Itron from a “hold” rating to a “buy” rating and raised their target price for the stock from $68.00 to $105.00 in a research report on Tuesday, February 27th. Piper Sandler lowered their target price on shares of Itron from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. Robert W. Baird upped their target price on shares of Itron from $108.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. Finally, Oppenheimer raised Itron from a “market perform” rating to an “outperform” rating and set a $81.00 price target on the stock in a report on Friday, January 19th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Itron currently has an average rating of “Moderate Buy” and a consensus price target of $103.60.

Itron Stock Performance

NASDAQ:ITRI traded up $7.19 during trading hours on Friday, hitting $107.01. 1,235,838 shares of the company were exchanged, compared to its average volume of 473,020. The company’s 50 day moving average price is $91.94 and its 200-day moving average price is $77.51. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 1.19 and a beta of 1.38. Itron has a 52-week low of $56.11 and a 52-week high of $107.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.90 and a quick ratio of 1.43.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.39. Itron had a return on equity of 14.51% and a net margin of 7.03%. The business had revenue of $603.44 million during the quarter, compared to analysts’ expectations of $579.49 million. During the same period in the previous year, the firm posted $0.49 earnings per share. The company’s revenue was up 22.0% on a year-over-year basis. As a group, research analysts forecast that Itron will post 3.68 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Donald L. Reeves III sold 383 shares of the business’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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Jerome J. Lande sold 14,896 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the completion of the sale, the director now directly owns 5,750 shares in the company, valued at approximately $547,687.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Donald L. Reeves III sold 383 shares of Itron stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 8,708 shares in the company, valued at $656,321.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,467 shares of company stock worth $2,752,520. 1.45% of the stock is owned by company insiders.

Institutional Trading of Itron

Several institutional investors have recently made changes to their positions in the business. Contravisory Investment Management Inc. boosted its stake in Itron by 61.5% in the 1st quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock worth $32,000 after purchasing an additional 131 shares during the period. GAMMA Investing LLC bought a new position in shares of Itron during the fourth quarter worth $27,000. Covestor Ltd grew its stake in Itron by 9,150.0% during the third quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 549 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Itron in the 4th quarter valued at $50,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Itron in the 4th quarter worth $76,000. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Itron Company Profile

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.