Roth Mkm Increases Itron (NASDAQ:ITRI) Price Target to $125.00

Itron (NASDAQ:ITRI) had its price target lifted by Roth Mkm from $122.00 to $125.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

Several other equities analysts also recently commented on ITRI. Guggenheim upgraded Itron from a neutral rating to a buy rating and set a $130.00 price objective on the stock in a research report on Thursday, July 11th. TD Cowen increased their price objective on shares of Itron from $115.00 to $125.00 and gave the company a buy rating in a report on Friday. StockNews.com lowered shares of Itron from a strong-buy rating to a buy rating in a research report on Friday, June 28th. JPMorgan Chase & Co. increased their price objective on shares of Itron from $104.00 to $112.00 and gave the company a neutral rating in a report on Tuesday, July 16th. Finally, Piper Sandler lifted their target price on Itron from $109.00 to $110.00 and gave the stock a neutral rating in a report on Monday, July 22nd. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Itron currently has an average rating of Moderate Buy and an average price target of $114.00.

Itron Stock Performance

Shares of ITRI stock traded up $1.89 during mid-day trading on Friday, reaching $99.28. 258,036 shares of the company’s stock traded hands, compared to its average volume of 520,136. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.40 and a current ratio of 3.16. The firm has a market capitalization of $4.55 billion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 0.91 and a beta of 1.45. Itron has a 12 month low of $56.11 and a 12 month high of $113.07. The firm has a 50 day moving average price of $103.39 and a two-hundred day moving average price of $94.38.

Itron (NASDAQ:ITRI) last released its quarterly earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.25. Itron had a return on equity of 16.42% and a net margin of 7.98%. The business had revenue of $609.07 million during the quarter, compared to analyst estimates of $599.25 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. Itron’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, research analysts forecast that Itron will post 4.55 EPS for the current year.

Insider Activity

In other news, CFO Joan S. Hooper sold 501 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $108.87, for a total value of $54,543.87. Following the completion of the sale, the chief financial officer now owns 72,847 shares in the company, valued at approximately $7,930,852.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Joan S. Hooper sold 501 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $108.87, for a total transaction of $54,543.87. Following the completion of the sale, the chief financial officer now directly owns 72,847 shares of the company’s stock, valued at approximately $7,930,852.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Christopher E. Ware sold 311 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $106.84, for a total value of $33,227.24. Following the completion of the transaction, the senior vice president now directly owns 15,371 shares in the company, valued at approximately $1,642,237.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,775 shares of company stock valued at $192,613. 1.45% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Itron

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ITRI. SG Americas Securities LLC increased its holdings in shares of Itron by 99.6% in the 4th quarter. SG Americas Securities LLC now owns 7,879 shares of the scientific and technical instruments company’s stock valued at $595,000 after acquiring an additional 3,932 shares during the period. Raymond James & Associates raised its holdings in shares of Itron by 51.6% in the fourth quarter. Raymond James & Associates now owns 47,621 shares of the scientific and technical instruments company’s stock worth $3,596,000 after buying an additional 16,208 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Itron by 13.7% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 6,194 shares of the scientific and technical instruments company’s stock worth $472,000 after buying an additional 744 shares during the period. Wakefield Asset Management LLLP grew its holdings in shares of Itron by 10.5% during the fourth quarter. Wakefield Asset Management LLLP now owns 12,036 shares of the scientific and technical instruments company’s stock valued at $909,000 after buying an additional 1,144 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Itron in the 4th quarter valued at $169,000. Institutional investors own 96.19% of the company’s stock.

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.