Itron (NASDAQ:ITRI) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Itron (NASDAQ:ITRI) had its price objective upped by investment analysts at Canaccord Genuity Group from $130.00 to $132.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. Canaccord Genuity Group’s price target indicates a potential upside of 23.49% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Guggenheim raised their price objective on Itron from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Itron from a “buy” rating to a “strong-buy” rating in a report on Friday, February 21st. Oppenheimer lifted their price objective on shares of Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research report on Wednesday. Piper Sandler increased their target price on shares of Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Robert W. Baird lifted their price target on shares of Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $127.64.

Itron Stock Down 0.8 %

Itron stock opened at $106.89 on Wednesday. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The firm has a market cap of $4.82 billion, a P/E ratio of 21.90, a P/E/G ratio of 0.81 and a beta of 1.46. The business has a fifty day moving average of $104.98 and a two-hundred day moving average of $106.85. Itron has a twelve month low of $86.13 and a twelve month high of $124.90.

Insider Activity at Itron

In other Itron news, SVP Christopher E. Ware sold 648 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $60,199.20. Following the sale, the senior vice president now owns 20,326 shares in the company, valued at approximately $1,888,285.40. The trade was a 3.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO David Marshall Wright sold 317 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $29,449.30. Following the completion of the transaction, the chief accounting officer now owns 8,108 shares of the company’s stock, valued at approximately $753,233.20. The trade was a 3.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,287 shares of company stock valued at $305,362 in the last ninety days. Company insiders own 1.45% of the company’s stock.

Institutional Trading of Itron

Several institutional investors and hedge funds have recently bought and sold shares of ITRI. Virtue Capital Management LLC raised its holdings in shares of Itron by 5.4% during the fourth quarter. Virtue Capital Management LLC now owns 8,249 shares of the scientific and technical instruments company’s stock worth $896,000 after purchasing an additional 419 shares during the last quarter. GTS Securities LLC purchased a new position in shares of Itron during the 4th quarter valued at about $288,000. Vise Technologies Inc. lifted its holdings in shares of Itron by 18.4% in the 4th quarter. Vise Technologies Inc. now owns 2,456 shares of the scientific and technical instruments company’s stock valued at $267,000 after buying an additional 381 shares during the period. Squarepoint Ops LLC boosted its stake in shares of Itron by 52.6% in the fourth quarter. Squarepoint Ops LLC now owns 139,538 shares of the scientific and technical instruments company’s stock worth $15,151,000 after buying an additional 48,084 shares during the last quarter. Finally, Tema Etfs LLC acquired a new stake in Itron during the fourth quarter worth about $517,000. 96.19% of the stock is currently owned by institutional investors and hedge funds.

About Itron

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.