Itron (NASDAQ:ITRI) Downgraded by Piper Sandler

Itron (NASDAQ:ITRI) was downgraded by stock analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a report released on Tuesday, Marketbeat.com reports. They currently have a $109.00 target price on the scientific and technical instruments company’s stock. Piper Sandler’s target price points to a potential downside of 0.58% from the company’s previous close.

Several other equities analysts also recently issued reports on ITRI. TD Cowen lifted their price target on shares of Itron from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Robert W. Baird lifted their price target on shares of Itron from $108.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. TheStreet raised shares of Itron from a “c” rating to a “b-” rating in a report on Monday, February 26th. Canaccord Genuity Group lifted their price target on shares of Itron from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Roth Mkm boosted their target price on shares of Itron from $102.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $104.18.

Itron Stock Performance

Shares of NASDAQ:ITRI opened at $109.64 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.90 and a quick ratio of 1.40. The business’s fifty day moving average price is $95.20 and its two-hundred day moving average price is $81.53. Itron has a fifty-two week low of $56.11 and a fifty-two week high of $109.97. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 31.51, a price-to-earnings-growth ratio of 1.07 and a beta of 1.38.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.39. The company had revenue of $603.44 million during the quarter, compared to analysts’ expectations of $579.49 million. Itron had a return on equity of 14.51% and a net margin of 7.03%. The business’s revenue was up 22.0% on a year-over-year basis. During the same period last year, the business earned $0.49 earnings per share. As a group, analysts predict that Itron will post 3.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Thomas Deitrich sold 3,362 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $87.10, for a total transaction of $292,830.20. Following the completion of the sale, the chief executive officer now directly owns 205,162 shares of the company’s stock, valued at $17,869,610.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Jerome J. Lande sold 14,896 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $95.25, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Deitrich sold 3,362 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $87.10, for a total transaction of $292,830.20. Following the completion of the transaction, the chief executive officer now owns 205,162 shares of the company’s stock, valued at approximately $17,869,610.20. The disclosure for this sale can be found here. Insiders sold a total of 26,923 shares of company stock valued at $2,495,196 over the last ninety days. Insiders own 1.45% of the company’s stock.

Institutional Trading of Itron

A number of institutional investors have recently made changes to their positions in ITRI. Teacher Retirement System of Texas raised its position in Itron by 111.5% during the third quarter. Teacher Retirement System of Texas now owns 34,463 shares of the scientific and technical instruments company’s stock worth $2,088,000 after acquiring an additional 18,165 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Itron by 1.7% in the 3rd quarter. California Public Employees Retirement System now owns 93,804 shares of the scientific and technical instruments company’s stock valued at $5,683,000 after purchasing an additional 1,563 shares in the last quarter. Guinness Asset Management LTD boosted its stake in shares of Itron by 1.9% in the 3rd quarter. Guinness Asset Management LTD now owns 635,881 shares of the scientific and technical instruments company’s stock valued at $38,504,000 after purchasing an additional 11,983 shares in the last quarter. Guinness Atkinson Asset Management Inc boosted its stake in shares of Itron by 1.2% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 18,882 shares of the scientific and technical instruments company’s stock valued at $1,144,000 after purchasing an additional 229 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Itron by 35.7% during the 3rd quarter. Victory Capital Management Inc. now owns 10,784 shares of the scientific and technical instruments company’s stock worth $653,000 after purchasing an additional 2,838 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

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.