Itron’s (ITRI) “Overweight” Rating Reaffirmed at Piper Sandler

Piper Sandler restated their overweight rating on shares of Itron (NASDAQ:ITRI) in a report issued on Friday morning, Benzinga reports. They currently have a $109.00 price objective on the scientific and technical instruments company’s stock, up from their prior price objective of $103.00.

Other equities research analysts have also issued reports about the stock. Canaccord Genuity Group raised shares of Itron from a hold rating to a buy rating and boosted their price objective for the company from $68.00 to $105.00 in a report on Tuesday, February 27th. Oppenheimer upgraded shares of Itron from a market perform rating to an outperform rating and set a $81.00 target price for the company in a research report on Friday, January 19th. Canaccord Genuity Group upgraded shares of Itron from a hold rating to a buy rating and boosted their target price for the company from $68.00 to $105.00 in a research report on Tuesday, February 27th. TD Cowen boosted their target price on shares of Itron from $110.00 to $115.00 and gave the company a buy rating in a research report on Friday. Finally, Robert W. Baird boosted their target price on shares of Itron from $108.00 to $115.00 and gave the company an outperform rating in a research report on Wednesday, March 13th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $104.18.

Itron Price Performance

Shares of ITRI opened at $107.37 on Friday. The firm has a market capitalization of $4.93 billion, a PE ratio of 30.85, a price-to-earnings-growth ratio of 1.16 and a beta of 1.38. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.90 and a quick ratio of 1.40. Itron has a 1-year low of $56.11 and a 1-year high of $108.60. The company’s fifty day moving average price is $92.26 and its 200-day moving average price is $77.98.

Itron (NASDAQ:ITRI) last announced 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. The firm had revenue of $603.44 million for 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 business’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 earnings per share. On average, equities research analysts predict that Itron will post 3.68 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Thomas Deitrich sold 1,912 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total transaction of $144,107.44. Following the completion of the transaction, the chief executive officer now owns 169,073 shares in the company, valued at approximately $12,743,032.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Thomas Deitrich sold 1,912 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total transaction of $144,107.44. Following the completion of the transaction, the chief executive officer now owns 169,073 shares in the company, valued at approximately $12,743,032.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jerome J. Lande sold 14,896 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 5,750 shares of the company’s stock, valued at approximately $547,687.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,467 shares of company stock worth $2,752,520. Company insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ITRI. Vanguard Group Inc. grew its stake in Itron by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,668,071 shares of the scientific and technical instruments company’s stock valued at $343,372,000 after acquiring an additional 142,564 shares in the last quarter. Raymond James & Associates grew its stake in Itron by 51.6% during the 4th quarter. Raymond James & Associates now owns 47,621 shares of the scientific and technical instruments company’s stock valued at $3,596,000 after acquiring an additional 16,208 shares in the last quarter. Trexquant Investment LP grew its stake in Itron by 48.8% during the 3rd quarter. Trexquant Investment LP now owns 57,431 shares of the scientific and technical instruments company’s stock valued at $3,479,000 after acquiring an additional 18,842 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Itron during the 4th quarter valued at about $210,000. Finally, Hsbc Holdings PLC grew its stake in Itron by 495.8% during the 3rd quarter. Hsbc Holdings PLC now owns 21,086 shares of the scientific and technical instruments company’s stock valued at $1,280,000 after acquiring an additional 17,547 shares in the last quarter. Institutional investors and hedge funds 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.