Roth Mkm Forecasts Strong Price Appreciation for Itron (NASDAQ:ITRI) Stock

Itron (NASDAQ:ITRI) had its price objective upped by Roth Mkm from $125.00 to $130.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the scientific and technical instruments company’s stock. Roth Mkm’s target price would indicate a potential upside of 16.45% from the stock’s current price.

Several other equities analysts have also commented on ITRI. Guggenheim upgraded Itron from a “neutral” rating to a “buy” rating and set a $130.00 price target on the stock in a research note on Thursday, July 11th. Janney Montgomery Scott assumed coverage on Itron in a report on Friday, September 27th. They issued a “buy” rating and a $131.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. BNP Paribas began coverage on shares of Itron in a report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 target price for the company. Finally, Piper Sandler boosted their price objective on shares of Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Itron currently has an average rating of “Moderate Buy” and an average target price of $123.50.

Itron Trading Down 0.1 %

NASDAQ ITRI traded down $0.12 during trading on Friday, hitting $111.64. The stock had a trading volume of 595,314 shares, compared to its average volume of 519,338. Itron has a one year low of $58.88 and a one year high of $116.39. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.61 and a current ratio of 3.16. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 27.56, a P/E/G ratio of 0.87 and a beta of 1.47. The stock has a 50 day simple moving average of $103.68 and a 200 day simple moving average of $102.41.

Itron (NASDAQ:ITRI) last released its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.71. The business had revenue of $615.46 million for the quarter, compared to analyst estimates of $596.41 million. Itron had a return on equity of 16.42% and a net margin of 7.98%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. Sell-side analysts predict that Itron will post 4.58 earnings per share for the current year.

Insider Transactions at Itron

In other Itron news, CEO Thomas Deitrich sold 887 shares of Itron stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $90,607.05. Following the completion of the sale, the chief executive officer now directly owns 205,276 shares in the company, valued at approximately $20,968,943.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Thomas Deitrich sold 887 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $90,607.05. Following the sale, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at $20,968,943.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donald L. Reeves III sold 4,210 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total value of $425,210.00. Following the completion of the transaction, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at $1,643,169. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,276 shares of company stock worth $4,515,846 over the last three months. 1.45% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Itron

A number of hedge funds have recently bought and sold shares of the business. Beacon Harbor Wealth Advisors Inc. acquired a new stake in Itron in the 3rd quarter valued at $5,994,000. Principal Financial Group Inc. raised its holdings in shares of Itron by 4.5% during the third quarter. Principal Financial Group Inc. now owns 248,077 shares of the scientific and technical instruments company’s stock valued at $26,497,000 after acquiring an additional 10,677 shares during the last quarter. Hanseatic Management Services Inc. lifted its position in shares of Itron by 4.4% in the third quarter. Hanseatic Management Services Inc. now owns 7,522 shares of the scientific and technical instruments company’s stock valued at $803,000 after acquiring an additional 318 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in Itron during the 3rd quarter worth $473,000. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Itron by 1.7% during the third quarter. Janney Montgomery Scott LLC now owns 11,425 shares of the scientific and technical instruments company’s stock worth $1,220,000 after buying an additional 190 shares in the last quarter. Hedge funds and other 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.