Itron (NASDAQ:ITRI) Price Target Raised to $136.00 at TD Cowen

Itron (NASDAQ:ITRI) had its price target hoisted by stock analysts at TD Cowen from $125.00 to $136.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the scientific and technical instruments company’s stock. TD Cowen’s price target would indicate a potential upside of 21.82% from the company’s current price.

Several other equities analysts have also issued reports on ITRI. Robert W. Baird upped their target price on Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday. Roth Mkm reissued a “buy” rating and set a $125.00 target price on shares of Itron in a research report on Wednesday, August 21st. Guggenheim upgraded Itron from a “neutral” rating to a “buy” rating and set a $130.00 price objective on the stock in a research note on Thursday, July 11th. Janney Montgomery Scott assumed coverage on Itron in a research report on Friday, September 27th. They issued a “buy” rating and a $131.00 target price for the company. Finally, Piper Sandler upped their price target on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Itron currently has a consensus rating of “Moderate Buy” and an average target price of $123.50.

Itron Trading Down 0.1 %

Shares of NASDAQ:ITRI traded down $0.12 during mid-day trading on Friday, hitting $111.64. The company had a trading volume of 595,314 shares, compared to its average volume of 519,338. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.16 and a quick ratio of 2.61. The company has a market capitalization of $5.02 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 0.87 and a beta of 1.47. The firm has a fifty day moving average price of $103.68 and a 200 day moving average price of $102.41. Itron has a one year low of $58.88 and a one year high of $116.39.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results 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. Itron had a net margin of 7.98% and a return on equity of 16.42%. The business had revenue of $615.46 million for the quarter, compared to analysts’ expectations of $596.41 million. During the same quarter last year, the firm earned $0.98 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, research analysts forecast that Itron will post 4.58 EPS for the current year.

Insider Activity

In other news, SVP Donald L. Reeves III sold 4,210 shares of the business’s 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 transaction, the senior vice president now directly owns 16,269 shares in the company, valued at $1,643,169. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Donald L. Reeves III sold 4,210 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the sale, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at $1,643,169. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Deitrich sold 37,500 shares of Itron stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the completion of the transaction, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at $21,519,083.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,276 shares of company stock valued at $4,515,846 in the last ninety days. Corporate insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Itron

Hedge funds have recently made changes to their positions in the stock. Beacon Harbor Wealth Advisors Inc. acquired a new position in Itron in the 3rd quarter worth approximately $5,994,000. Principal Financial Group Inc. lifted its stake in shares of Itron by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 248,077 shares of the scientific and technical instruments company’s stock valued at $26,497,000 after purchasing an additional 10,677 shares during the period. Hanseatic Management Services Inc. increased its holdings in Itron by 4.4% in the third quarter. Hanseatic Management Services Inc. now owns 7,522 shares of the scientific and technical instruments company’s stock valued at $803,000 after buying an additional 318 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Itron during the 3rd quarter valued at about $473,000. Finally, Janney Montgomery Scott LLC boosted its position in Itron by 1.7% during the third quarter. Janney Montgomery Scott LLC now owns 11,425 shares of the scientific and technical instruments company’s stock worth $1,220,000 after purchasing an additional 190 shares in the last quarter. 96.19% of the stock is currently 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.