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

Itron (NASDAQ:ITRI) had its price target raised by investment analysts at Canaccord Genuity Group from $105.00 to $115.00 in a research 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 target price would indicate a potential upside of 7.47% from the company’s current price.

A number of other equities research analysts have also commented on ITRI. Canaccord Genuity Group raised Itron from a “hold” rating to a “buy” rating and raised their price target for the stock from $68.00 to $105.00 in a research report on Tuesday, February 27th. TD Cowen raised their target price on shares of Itron from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday. Roth Mkm upped their price target on shares of Itron from $102.00 to $112.00 and gave the company a “buy” rating in a report on Friday. Oppenheimer increased their price objective on shares of Itron from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Itron from $77.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Itron presently has an average rating of “Moderate Buy” and an average price target of $103.60.

Itron Trading Up 7.2 %

NASDAQ ITRI opened at $107.01 on Friday. Itron has a 12 month low of $56.11 and a 12 month high of $107.11. The company has a current ratio of 1.90, a quick ratio of 1.43 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $4.91 billion, a PE ratio of 30.75, a P/E/G ratio of 1.19 and a beta of 1.38. The stock has a 50-day simple moving average of $91.94 and a 200 day simple moving average of $77.51.

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

Insider Activity at Itron

In related news, Director Jerome J. Lande sold 14,896 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the completion of the transaction, the director now directly owns 5,750 shares of the company’s stock, valued at $547,687.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Thomas Deitrich sold 1,912 shares of Itron stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $144,107.44. Following the completion of the transaction, the chief executive officer now owns 169,073 shares of the company’s stock, valued at approximately $12,743,032.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jerome J. Lande sold 14,896 shares of the company’s stock in a transaction dated 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 $547,687.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,467 shares of company stock valued at $2,752,520. 1.45% of the stock is owned by insiders.

Hedge Funds Weigh In On Itron

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