Brokerages Set Itron, Inc. (NASDAQ:ITRI) Target Price at $95.60

Itron, Inc. (NASDAQ:ITRI) has been given an average rating of “Moderate Buy” by the twelve ratings firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $97.60.

A number of research firms have weighed in on ITRI. Roth Mkm reissued a “buy” rating and set a $102.00 price objective on shares of Itron in a report on Tuesday. Robert W. Baird raised their price objective on shares of Itron from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. Piper Sandler cut their price objective on shares of Itron from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Thursday, April 11th. Canaccord Genuity Group raised shares of Itron from a “hold” rating to a “buy” rating and raised their price objective for the stock from $68.00 to $105.00 in a report on Tuesday, February 27th. Finally, Canaccord Genuity Group raised shares of Itron from a “hold” rating to a “buy” rating and raised their price objective for the stock from $68.00 to $105.00 in a report on Tuesday, February 27th.

Itron Stock Up 1.4 %

Shares of NASDAQ:ITRI opened at $95.75 on Friday. The firm’s 50 day moving average price is $89.37 and its 200 day moving average price is $75.78. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 45.60, a price-to-earnings-growth ratio of 1.05 and a beta of 1.41. Itron has a fifty-two week low of $50.97 and a fifty-two week high of $97.84. The company has a quick ratio of 1.43, a current ratio of 1.95 and a debt-to-equity ratio of 0.34.

Itron (NASDAQ:ITRI) last issued its earnings results on Monday, February 26th. The scientific and technical instruments company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.48. The firm had revenue of $577.17 million for the quarter, compared to analysts’ expectations of $569.90 million. Itron had a net margin of 4.46% and a return on equity of 12.27%. The firm’s revenue was up 23.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 earnings per share. As a group, equities research analysts predict that Itron will post 3.61 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Joan S. Hooper sold 1,560 shares of Itron stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $117,577.20. Following the transaction, the chief financial officer now directly owns 60,141 shares in the company, valued at approximately $4,532,827.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Joan S. Hooper sold 1,560 shares of Itron stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $117,577.20. Following the transaction, the chief financial officer now directly owns 60,141 shares in the company, valued at approximately $4,532,827.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jerome J. Lande sold 14,896 shares of Itron stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the completion of the transaction, the director now owns 5,750 shares in the company, valued at $547,687.50. The disclosure for this sale can be found here. Insiders have sold 30,467 shares of company stock valued at $2,752,520 in the last ninety days. 1.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Itron

Institutional investors have recently made changes to their positions in the stock. Contravisory Investment Management Inc. boosted its position in shares of Itron by 61.5% during the 1st quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock worth $32,000 after purchasing an additional 131 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Itron during the 4th quarter worth $27,000. Covestor Ltd boosted its position in shares of Itron by 9,150.0% during the 3rd quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 549 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Itron during the 4th quarter worth $50,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Itron during the 4th quarter worth $76,000. 96.19% of the stock is currently owned by hedge funds and other 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.