Itron (NASDAQ:ITRI) Price Target Raised to $132.00

Itron (NASDAQ:ITRI) had its price objective upped by Robert W. Baird from $123.00 to $132.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the scientific and technical instruments company’s stock.

A number of other equities analysts have also recently commented on the company. Guggenheim raised Itron from a “neutral” rating to a “buy” rating and set a $130.00 target price for the company in a report on Thursday, July 11th. JPMorgan Chase & Co. increased their price objective on Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Piper Sandler lifted their target price on shares of Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Stephens reissued an “equal weight” rating and issued a $110.00 price target on shares of Itron in a research note on Monday, August 5th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $125.00 price objective on shares of Itron in a research note on Wednesday, August 21st. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $123.50.

Itron Trading Up 0.0 %

Shares of ITRI stock opened at $111.81 on Friday. Itron has a 1-year low of $58.88 and a 1-year high of $116.39. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 0.94 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.61. The stock has a 50 day simple moving average of $103.88 and a 200-day simple moving average of $102.65.

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

Insider Activity

In related news, SVP Donald L. Reeves III sold 4,210 shares of the firm’s 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 completion of the sale, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Itron news, CFO Joan S. Hooper sold 509 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $102.15, for a total value of $51,994.35. Following the sale, the chief financial officer now owns 72,338 shares of the company’s stock, valued at $7,389,326.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Donald L. Reeves III sold 4,210 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total value of $425,210.00. Following the transaction, the senior vice president now owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,276 shares of company stock valued at $4,515,846 in the last quarter. Insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Itron

Institutional investors and hedge funds have recently modified their holdings of the company. Commonwealth Equity Services LLC acquired a new position in Itron in the 1st quarter valued at about $1,076,000. Jupiter Asset Management Ltd. purchased a new position in shares of Itron in the first quarter valued at approximately $2,029,000. Sculptor Capital LP acquired a new position in shares of Itron in the second quarter valued at approximately $5,255,000. UniSuper Management Pty Ltd purchased a new stake in Itron during the 1st quarter worth approximately $904,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Itron by 113.0% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 30,988 shares of the scientific and technical instruments company’s stock worth $2,867,000 after buying an additional 16,441 shares in the last quarter. Hedge funds and other 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.