Oppenheimer Raises Itron (NASDAQ:ITRI) Price Target to $124.00

Itron (NASDAQ:ITRI) had its target price increased by equities research analysts at Oppenheimer from $120.00 to $124.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the scientific and technical instruments company’s stock. Oppenheimer’s price objective indicates a potential upside of 10.90% from the company’s current price.

Several other analysts have also recently commented on the stock. Roth Mkm reissued a “buy” rating and set a $125.00 price target on shares of Itron in a research note on Wednesday, August 21st. Robert W. Baird boosted their price target on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday. BNP Paribas assumed coverage on shares of Itron in a report on Thursday, September 5th. They set an “outperform” rating and a $133.00 target price on the stock. Piper Sandler increased their price objective on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a report on Friday. Finally, JPMorgan Chase & Co. increased their target price on shares of Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Itron presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.50.

Itron Stock Up 0.0 %

NASDAQ ITRI opened at $111.81 on Friday. Itron has a twelve month low of $58.88 and a twelve month high of $116.39. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.61 and a current ratio of 3.36. The stock has a market cap of $5.03 billion, a PE ratio of 22.91, a PEG ratio of 0.94 and a beta of 1.46. The firm 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 quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.71. Itron had a net margin of 9.37% and a return on equity of 19.03%. The company had revenue of $615.46 million during the quarter, compared to analysts’ expectations of $596.41 million. During the same quarter in the prior year, the company posted $0.98 EPS. The business’s revenue was up 9.8% on a year-over-year basis. On average, research analysts forecast that Itron will post 4.58 EPS for the current year.

Insider Activity

In related news, CEO Thomas Deitrich sold 37,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the transaction, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at approximately $21,519,083.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 transaction of $51,994.35. Following the completion of the sale, the chief financial officer now owns 72,338 shares in the company, 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 legal filing with the SEC, which is available at this hyperlink. Also, CEO Thomas Deitrich sold 37,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total value of $3,931,125.00. Following the transaction, the chief executive officer now owns 205,276 shares in the company, valued at approximately $21,519,083.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,276 shares of company stock valued at $4,515,846 over the last three months. Insiders own 1.45% of the company’s stock.

Institutional Trading of Itron

Several institutional investors have recently added to or reduced their stakes in ITRI. Hexagon Capital Partners LLC boosted its position in shares of Itron by 85.6% in the second quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock valued at $27,000 after acquiring an additional 125 shares during the period. Quarry LP boosted its holdings in Itron by 53.0% in the 2nd quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock valued at $35,000 after purchasing an additional 122 shares during the period. Covestor Ltd grew its position in shares of Itron by 26.1% during the 3rd quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock worth $57,000 after purchasing an additional 111 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Itron by 46.6% during the second quarter. GAMMA Investing LLC now owns 720 shares of the scientific and technical instruments company’s stock worth $71,000 after purchasing an additional 229 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of Itron by 21.7% in the third quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock valued at $77,000 after buying an additional 129 shares in the last quarter. 96.19% of the stock is currently 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.