Itron (NASDAQ:ITRI) Price Target Increased to $123.00 by Analysts at Robert W. Baird

Itron (NASDAQ:ITRI) had its price target upped by Robert W. Baird from $115.00 to $123.00 in a report issued on Friday, Benzinga reports. Robert W. Baird currently has an outperform rating on the scientific and technical instruments company’s stock.

Several other analysts have also weighed in on ITRI. JPMorgan Chase & Co. lifted their price objective on shares of Itron from $104.00 to $112.00 and gave the company a neutral rating in a research note on Tuesday, July 16th. TD Cowen lifted their price objective on shares of Itron from $115.00 to $125.00 and gave the company a buy rating in a research note on Friday. Piper Sandler lifted their price objective on shares of Itron from $109.00 to $110.00 and gave the company a neutral rating in a research note on Monday, July 22nd. Canaccord Genuity Group lifted their price objective on shares of Itron from $115.00 to $120.00 and gave the company a buy rating in a research note on Thursday, June 20th. Finally, Guggenheim upgraded shares of Itron from a neutral rating to a buy rating and set a $130.00 price objective for the company in a research note on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $114.00.

Itron Price Performance

Shares of ITRI traded down $3.76 during mid-day trading on Friday, reaching $97.39. The company had a trading volume of 878,646 shares, compared to its average volume of 521,916. The company’s 50 day simple moving average is $103.39 and its 200 day simple moving average is $94.38. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 0.91 and a beta of 1.45. Itron has a 1-year low of $56.11 and a 1-year high of $113.07. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.40 and a current ratio of 3.16.

Itron (NASDAQ:ITRI) last released its quarterly earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.25. Itron had a net margin of 7.98% and a return on equity of 16.42%. The firm had revenue of $609.07 million during the quarter, compared to analyst estimates of $599.25 million. During the same quarter last year, the business earned $0.65 EPS. The company’s revenue was up 12.6% compared to the same quarter last year. Analysts expect that Itron will post 4.55 EPS for the current year.

Insider Activity at Itron

In related news, SVP Christopher E. Ware sold 311 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $106.84, for a total value of $33,227.24. Following the sale, the senior vice president now directly owns 15,371 shares in the company, valued at approximately $1,642,237.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Christopher E. Ware sold 311 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $106.84, for a total value of $33,227.24. Following the sale, the senior vice president now directly owns 15,371 shares of the company’s stock, valued at $1,642,237.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Thomas Deitrich sold 873 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $108.87, for a total transaction of $95,043.51. Following the completion of the sale, the chief executive officer now directly owns 206,163 shares in the company, valued at $22,444,965.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,775 shares of company stock worth $192,613. Company insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Itron

A number of institutional investors and hedge funds have recently modified their holdings of the company. Arizona State Retirement System lifted its holdings in shares of Itron by 2.6% in the second quarter. Arizona State Retirement System now owns 12,832 shares of the scientific and technical instruments company’s stock worth $1,270,000 after buying an additional 330 shares in the last quarter. Victory Capital Management Inc. raised its stake in Itron by 1,331.3% in the second quarter. Victory Capital Management Inc. now owns 200,400 shares of the scientific and technical instruments company’s stock valued at $19,832,000 after purchasing an additional 186,399 shares in the last quarter. Lisanti Capital Growth LLC raised its stake in Itron by 34.9% in the second quarter. Lisanti Capital Growth LLC now owns 43,300 shares of the scientific and technical instruments company’s stock valued at $4,285,000 after purchasing an additional 11,210 shares in the last quarter. Hanseatic Management Services Inc. purchased a new stake in Itron in the second quarter valued at approximately $713,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Itron by 47.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,086 shares of the scientific and technical instruments company’s stock valued at $16,931,000 after purchasing an additional 54,791 shares in the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

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.