Itron (NASDAQ:ITRI) Price Target Raised to $130.00

Itron (NASDAQ:ITRI) had its target price raised by Roth Mkm from $125.00 to $130.00 in a research report report published on Friday, Benzinga reports. The firm currently has a buy rating on the scientific and technical instruments company’s stock.

Several other brokerages have also weighed in on ITRI. BNP Paribas initiated coverage on Itron in a research report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 target price on the stock. Piper Sandler increased their target price on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research report on Friday. Oppenheimer increased their target price on Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday. Stephens reaffirmed an “equal weight” rating and issued a $110.00 target price on shares of Itron in a research report on Monday, August 5th. Finally, Janney Montgomery Scott initiated coverage on Itron in a research report on Friday, September 27th. They issued a “buy” rating and a $131.00 target price on the stock. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.50.

Itron Price Performance

Shares of NASDAQ:ITRI opened at $111.81 on Friday. The business’s fifty day moving average price is $103.88 and its two-hundred day moving average price is $102.73. The stock has a market cap of $5.03 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 0.94 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.61 and a current ratio of 3.36. Itron has a one year low of $58.88 and a one year high of $116.39.

Itron (NASDAQ:ITRI) last announced its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.71. The firm had revenue of $615.46 million for the quarter, compared to analysts’ expectations of $596.41 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. Itron’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 EPS. On average, analysts forecast that Itron will post 4.58 EPS for the current fiscal year.

Insider Transactions at Itron

In other news, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the sale, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Thomas Deitrich sold 887 shares of Itron stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $102.15, for a total value of $90,607.05. Following the completion of the transaction, the chief executive officer now directly owns 205,276 shares in the company, valued at approximately $20,968,943.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total value of $425,210.00. Following the completion of the transaction, the senior vice president now owns 16,269 shares of the company’s stock, valued at $1,643,169. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,276 shares of company stock valued at $4,515,846. 1.45% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Itron

A number of hedge funds have recently bought and sold shares of the company. Covestor Ltd grew its stake in Itron by 26.1% in the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock worth $57,000 after purchasing an additional 111 shares in the last quarter. Atria Investments Inc grew its stake in Itron by 20.1% in the third quarter. Atria Investments Inc now owns 8,660 shares of the scientific and technical instruments company’s stock worth $925,000 after purchasing an additional 1,450 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. acquired a new position in Itron in the third quarter worth about $5,994,000. Principal Financial Group Inc. grew its stake in Itron by 4.5% in the third quarter. Principal Financial Group Inc. now owns 248,077 shares of the scientific and technical instruments company’s stock worth $26,497,000 after purchasing an additional 10,677 shares in the last quarter. Finally, Hanseatic Management Services Inc. grew its stake in Itron by 4.4% in the third quarter. Hanseatic Management Services Inc. now owns 7,522 shares of the scientific and technical instruments company’s stock worth $803,000 after purchasing an additional 318 shares in the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

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.