Itron, Inc. (NASDAQ:ITRI) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Itron, Inc. (NASDAQ:ITRI) have been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $118.64.

ITRI has been the topic of a number of research analyst reports. StockNews.com lowered shares of Itron from a “strong-buy” rating to a “buy” rating in a report on Friday, June 28th. JPMorgan Chase & Co. increased their price objective on Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Robert W. Baird lifted their target price on Itron from $115.00 to $123.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Piper Sandler increased their price target on shares of Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, Stephens restated an “equal weight” rating and set a $110.00 price objective on shares of Itron in a research note on Monday, August 5th.

Insiders Place Their Bets

In other news, SVP Donald L. Reeves III sold 4,210 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total value of $425,210.00. Following the transaction, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at $1,643,169. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Itron news, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total value of $425,210.00. Following the completion of the sale, the senior vice president now owns 16,269 shares in the company, valued at approximately $1,643,169. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Deitrich sold 887 shares of the company’s 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 of the company’s stock, valued at $20,968,943.40. The disclosure for this sale can be found here. Insiders have sold a total of 5,776 shares of company stock valued at $584,721 in the last 90 days. 1.45% of the stock is owned by insiders.

Hedge Funds Weigh In On Itron

Several large investors have recently modified their holdings of ITRI. Trexquant Investment LP raised its holdings in Itron by 18.4% in the 4th quarter. Trexquant Investment LP now owns 67,973 shares of the scientific and technical instruments company’s stock valued at $5,133,000 after buying an additional 10,542 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Itron during the first quarter worth $2,002,000. Commonwealth Equity Services LLC acquired a new stake in shares of Itron in the first quarter valued at $1,076,000. Jupiter Asset Management Ltd. purchased a new stake in shares of Itron in the 1st quarter valued at $2,029,000. Finally, Oppenheimer & Co. Inc. lifted its stake in Itron by 91.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 30,568 shares of the scientific and technical instruments company’s stock worth $2,308,000 after acquiring an additional 14,573 shares in the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

Itron Trading Up 0.8 %

Shares of NASDAQ ITRI opened at $107.22 on Tuesday. Itron has a twelve month low of $56.11 and a twelve month high of $113.07. The firm has a market cap of $4.92 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 0.84 and a beta of 1.47. The business has a fifty day simple moving average of $100.85 and a two-hundred day simple moving average of $99.49. 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 (NASDAQ:ITRI) last released its quarterly earnings data on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.25. The firm had revenue of $609.07 million for the quarter, compared to the consensus estimate of $599.25 million. Itron had a net margin of 7.98% and a return on equity of 16.42%. The company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period last year, the firm earned $0.65 earnings per share. Analysts expect that Itron will post 4.59 earnings per share for the current fiscal year.

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.