Itron (NASDAQ:ITRI) Rating Lowered to “Buy” at StockNews.com

StockNews.com cut shares of Itron (NASDAQ:ITRI) from a strong-buy rating to a buy rating in a report issued on Saturday.

Several other equities research analysts have also recently commented on the company. Guggenheim lowered their price target on Itron from $135.00 to $133.00 and set a “buy” rating for the company in a research note on Thursday. Oppenheimer boosted their price target on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a research note on Wednesday. Canaccord Genuity Group boosted their price target on Itron from $130.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday. Roth Mkm boosted their price target on Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, TD Cowen upped their target price on Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $127.64.

Itron Trading Up 1.9 %

Shares of NASDAQ ITRI opened at $108.89 on Friday. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 0.81 and a beta of 1.46. The business has a 50 day simple moving average of $104.96 and a 200 day simple moving average of $106.95. Itron has a 52 week low of $86.13 and a 52 week high of $124.90. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36.

Insider Activity

In other news, CFO Joan S. Hooper sold 2,322 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $215,713.80. Following the completion of the sale, the chief financial officer now directly owns 92,076 shares of the company’s stock, valued at approximately $8,553,860.40. This represents a 2.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO David Marshall Wright sold 317 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $29,449.30. Following the completion of the sale, the chief accounting officer now directly owns 8,108 shares of the company’s stock, valued at $753,233.20. This represents a 3.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,037 shares of company stock valued at $385,815. 1.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On Itron

Several hedge funds have recently modified their holdings of the business. GeoWealth Management LLC raised its stake in shares of Itron by 4,580.0% in the fourth quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 229 shares in the last quarter. Continuum Advisory LLC raised its stake in shares of Itron by 42.1% in the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock valued at $40,000 after purchasing an additional 102 shares in the last quarter. Quarry LP raised its stake in shares of Itron by 29.0% in the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock valued at $48,000 after purchasing an additional 102 shares in the last quarter. Covestor Ltd raised its stake in shares of Itron by 26.1% in the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock valued at $57,000 after purchasing an additional 111 shares in the last quarter. Finally, CoreCap Advisors LLC raised its stake in shares of Itron by 25.5% in the fourth quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company’s stock valued at $67,000 after purchasing an additional 125 shares in the last quarter. 96.19% of the stock is owned by 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.