Itron (NASDAQ:ITRI) PT Raised to $110.00

Itron (NASDAQ:ITRI) had its price objective raised by Stephens from $85.00 to $110.00 in a research note released on Monday morning, Benzinga reports. Stephens currently has an equal weight rating on the scientific and technical instruments company’s stock.

A number of other equities analysts also recently issued reports on the company. Canaccord Genuity Group increased their price objective on Itron from $105.00 to $115.00 and gave the company a buy rating in a report on Friday, May 3rd. Oppenheimer increased their price target on Itron from $100.00 to $110.00 and gave the company an outperform rating in a research note on Friday, May 3rd. Robert W. Baird boosted their price target on Itron from $108.00 to $115.00 and gave the stock an outperform rating in a research note on Wednesday, March 13th. TD Cowen increased their price objective on shares of Itron from $110.00 to $115.00 and gave the company a buy rating in a research report on Friday, May 3rd. Finally, Piper Sandler reissued an overweight rating and set a $109.00 target price (up previously from $103.00) on shares of Itron in a research report on Friday, May 3rd. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Itron currently has an average rating of Moderate Buy and an average target price of $104.18.

Itron Price Performance

Shares of ITRI stock opened at $109.06 on Monday. The stock’s 50-day moving average is $92.90 and its 200 day moving average is $78.56. Itron has a 1-year low of $56.11 and a 1-year high of $109.97. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.90 and a quick ratio of 1.40. The company has a market cap of $5.00 billion, a P/E ratio of 31.34, a PEG ratio of 1.16 and a beta of 1.38.

Itron (NASDAQ:ITRI) last released its quarterly earnings results 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 business had revenue of $603.44 million for the quarter, compared to analysts’ expectations of $579.49 million. Itron had a net margin of 7.03% and a return on equity of 14.51%. The company’s revenue was up 22.0% compared to the same quarter last year. During the same period last year, the business earned $0.49 EPS. Research analysts predict that Itron will post 3.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Donald L. Reeves III sold 383 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $28,866.71. Following the completion of the transaction, the senior vice president now owns 8,708 shares of the company’s stock, valued at approximately $656,321.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Donald L. Reeves III sold 383 shares of Itron stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Deitrich sold 1,912 shares of the company’s stock in a transaction that occurred 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 owns 169,073 shares in the company, valued at approximately $12,743,032.01. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,467 shares of company stock valued at $2,752,520. Company insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Itron

Several hedge funds have recently modified their holdings of ITRI. SG Americas Securities LLC acquired a new stake in Itron in the third quarter valued at approximately $239,000. Raymond James Financial Services Advisors Inc. lifted its holdings in Itron by 1.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 19,549 shares of the scientific and technical instruments company’s stock valued at $1,184,000 after purchasing an additional 236 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Itron by 453.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 114,856 shares of the scientific and technical instruments company’s stock valued at $6,958,000 after purchasing an additional 94,085 shares during the period. Mackenzie Financial Corp increased its stake in shares of Itron by 313.4% during the third quarter. Mackenzie Financial Corp now owns 11,595 shares of the scientific and technical instruments company’s stock worth $677,000 after purchasing an additional 8,790 shares in the last quarter. Finally, Inspire Investing LLC raised its position in shares of Itron by 9.6% during the 3rd quarter. Inspire Investing LLC now owns 5,684 shares of the scientific and technical instruments company’s stock worth $344,000 after purchasing an additional 498 shares during 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.