Itron (NASDAQ:ITRI) Price Target Raised to $135.00

Itron (NASDAQ:ITRI) had its price target upped by Guggenheim from $128.00 to $135.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

Other research analysts have also recently issued research reports about the stock. Janney Montgomery Scott began coverage on shares of Itron in a report on Friday, September 27th. They set a “buy” rating and a $131.00 target price for the company. Roth Mkm boosted their price objective on Itron from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. BNP Paribas started coverage on Itron in a report on Thursday, September 5th. They set an “outperform” rating and a $133.00 target price on the stock. Piper Sandler upped their price objective on shares of Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Robert W. Baird upped their price objective on shares of Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $123.92.

Itron Stock Up 0.7 %

ITRI stock traded up $0.80 on Wednesday, hitting $123.73. 325,859 shares of the company’s stock were exchanged, compared to its average volume of 580,054. The firm has a 50 day moving average price of $105.76 and a two-hundred day moving average price of $103.60. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. Itron has a 12-month low of $62.45 and a 12-month high of $124.72. The stock has a market cap of $5.58 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 0.92 and a beta of 1.46.

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 analysts’ consensus estimates of $1.13 by $0.71. The firm had revenue of $615.46 million for the quarter, compared to analyst estimates of $596.41 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. As a group, equities research analysts expect that Itron will post 5.33 EPS for the current fiscal year.

Insider Transactions at Itron

In related 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 value of $90,607.05. Following the completion of the sale, the chief executive officer now owns 205,276 shares in the company, valued at approximately $20,968,943.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Itron news, 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Thomas Deitrich sold 887 shares of the 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 in the company, valued at $20,968,943.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,276 shares of company stock worth $4,515,846. 1.45% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Itron

Several large investors have recently added to or reduced their stakes in ITRI. Hexagon Capital Partners LLC raised its holdings in 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 in the last quarter. Quarry LP raised its holdings in shares of 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 in the last quarter. Covestor Ltd lifted its holdings in 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 buying an additional 111 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Itron by 46.6% in the second quarter. GAMMA Investing LLC now owns 720 shares of the scientific and technical instruments company’s stock valued at $71,000 after purchasing an additional 229 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in 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 purchasing an additional 129 shares during the last quarter. 96.19% of the stock is owned by hedge funds and other 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.