Itron (NASDAQ:ITRI) Given Buy Rating at Roth Mkm

Roth Mkm reiterated their buy rating on shares of Itron (NASDAQ:ITRI) in a report released on Tuesday, Benzinga reports. The brokerage currently has a $102.00 price target on the scientific and technical instruments company’s stock.

ITRI has been the subject of several other reports. Canaccord Genuity Group raised Itron from a hold rating to a buy rating and increased their price objective for the company from $68.00 to $105.00 in a research report on Tuesday, February 27th. JPMorgan Chase & Co. upped their target price on Itron from $77.00 to $92.00 and gave the company a neutral rating in a research note on Wednesday, March 13th. Piper Sandler cut their target price on Itron from $105.00 to $103.00 and set an overweight rating for the company in a research note on Thursday, April 11th. Canaccord Genuity Group upgraded Itron from a hold rating to a buy rating and upped their target price for the company from $68.00 to $105.00 in a research note on Tuesday, February 27th. Finally, Oppenheimer upgraded Itron from a market perform rating to an outperform rating and set a $81.00 target price for the company in a research note on Friday, January 19th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Itron has a consensus rating of Moderate Buy and a consensus price target of $97.60.

Itron Stock Up 3.7 %

ITRI opened at $94.84 on Tuesday. Itron has a 1-year low of $50.60 and a 1-year high of $96.73. The company has a current ratio of 1.95, a quick ratio of 1.43 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 45.09, a P/E/G ratio of 0.99 and a beta of 1.41. The business has a 50 day moving average of $88.21 and a 200-day moving average of $75.27.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Monday, February 26th. The scientific and technical instruments company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.48. Itron had a return on equity of 12.27% and a net margin of 4.46%. The company had revenue of $577.17 million during the quarter, compared to analysts’ expectations of $569.90 million. During the same period in the prior year, the business earned $0.71 earnings per share. Itron’s revenue for the quarter was up 23.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Itron will post 3.61 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of Itron

Hedge funds and other institutional investors have recently made changes to their positions in the business. Contravisory Investment Management Inc. increased its stake in shares of Itron by 61.5% in the first quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock valued at $32,000 after buying an additional 131 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Itron in the fourth quarter valued at $27,000. Covestor Ltd increased its stake in shares of Itron by 9,150.0% in the third quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 549 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Itron in the fourth quarter valued at about $50,000. Finally, C M Bidwell & Associates Ltd. bought a new position in Itron in the fourth quarter valued at about $76,000. 96.19% of the stock is currently owned by institutional investors and hedge funds.

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.