Robert W. Baird Increases Itron (NASDAQ:ITRI) Price Target to $132.00

Itron (NASDAQ:ITRI) had its target price hoisted by Robert W. Baird from $123.00 to $132.00 in a research note published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the scientific and technical instruments company’s stock.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. boosted their target price on Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Janney Montgomery Scott assumed coverage on shares of Itron in a research report on Friday, September 27th. They set a “buy” rating and a $131.00 price objective on the stock. Stephens reaffirmed an “equal weight” rating and issued a $110.00 target price on shares of Itron in a report on Monday, August 5th. Roth Mkm reiterated a “buy” rating and issued a $125.00 target price on shares of Itron in a research note on Wednesday, August 21st. Finally, Piper Sandler boosted their price objective on shares of Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $123.50.

Itron Price Performance

Shares of NASDAQ ITRI traded up $0.05 during trading hours on Friday, reaching $111.81. 963,729 shares of the stock traded hands, compared to its average volume of 521,076. The company has a market capitalization of $5.03 billion, a P/E ratio of 27.61, a price-to-earnings-growth ratio of 0.87 and a beta of 1.47. The company’s 50-day simple moving average is $103.88 and its two-hundred day simple moving average is $102.57. The company has a quick ratio of 2.61, a current ratio of 3.16 and a debt-to-equity ratio of 0.98. Itron has a 52-week low of $58.88 and a 52-week high of $116.39.

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 for the quarter, beating the consensus estimate of $1.13 by $0.71. The firm had revenue of $615.46 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.98 earnings per share. Equities research analysts forecast that Itron will post 4.58 EPS for the current year.

Insider Activity

In other news, CEO Thomas Deitrich sold 887 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were 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 in the company, valued at approximately $20,968,943.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Thomas Deitrich sold 887 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $90,607.05. Following the sale, the chief executive officer now owns 205,276 shares of the company’s stock, valued at approximately $20,968,943.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the transaction, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. This represents 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 90 days. Corporate insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Itron

A number of institutional investors and hedge funds have recently modified their holdings of ITRI. Vanguard Group Inc. increased its stake in Itron by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 5,701,337 shares of the scientific and technical instruments company’s stock worth $527,488,000 after buying an additional 45,909 shares during the period. Handelsbanken Fonder AB increased its holdings in Itron by 62.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 899,789 shares of the scientific and technical instruments company’s stock worth $96,106,000 after purchasing an additional 346,615 shares during the period. Select Equity Group L.P. raised its position in Itron by 86.2% during the 2nd quarter. Select Equity Group L.P. now owns 603,877 shares of the scientific and technical instruments company’s stock valued at $59,760,000 after purchasing an additional 279,629 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Itron by 2.2% in the 1st quarter. Janus Henderson Group PLC now owns 542,943 shares of the scientific and technical instruments company’s stock worth $50,233,000 after buying an additional 11,918 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Itron by 90.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company’s stock worth $54,658,000 after buying an additional 243,355 shares in the last quarter. 96.19% of the stock is owned by institutional investors.

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.