Roth Mkm Forecasts Strong Price Appreciation for Itron (NASDAQ:ITRI) Stock

Itron (NASDAQ:ITRI) had its target price hoisted by equities research analysts at Roth Mkm from $125.00 to $130.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. Roth Mkm’s price objective would suggest a potential upside of 16.27% from the stock’s current price.

Several other equities research analysts have also recently commented on ITRI. Guggenheim upgraded Itron from a “neutral” rating to a “buy” rating and set a $130.00 price target for the company in a research note on Thursday, July 11th. TD Cowen upped their price objective on Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a report on Friday. Robert W. Baird boosted their target price on shares of Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. upped their target price on shares of Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Finally, Stephens reissued an “equal weight” rating and set a $110.00 price target on shares of Itron in a research note on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $123.50.

Itron Stock Up 0.0 %

Itron stock opened at $111.81 on Friday. The company has a market capitalization of $5.03 billion, a P/E ratio of 22.91, a PEG ratio of 0.94 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.61 and a current ratio of 3.36. Itron has a fifty-two week low of $58.88 and a fifty-two week high of $116.39. The stock has a 50-day simple moving average of $103.88 and a 200-day simple moving average of $102.57.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data 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. The business had revenue of $615.46 million during the quarter, compared to the consensus estimate of $596.41 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 earnings per share. Equities research analysts expect that Itron will post 4.58 earnings per share for the current year.

Insider Transactions at Itron

In other Itron news, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Thomas Deitrich sold 887 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $90,607.05. Following the transaction, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at approximately $20,968,943.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Donald L. Reeves III sold 4,210 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were 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 approximately $1,643,169. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,276 shares of company stock worth $4,515,846. 1.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Itron

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Itron by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,701,337 shares of the scientific and technical instruments company’s stock worth $527,488,000 after acquiring an additional 45,909 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Itron by 62.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 899,789 shares of the scientific and technical instruments company’s stock valued at $96,106,000 after buying an additional 346,615 shares during the last quarter. Select Equity Group L.P. grew its position in shares of Itron by 86.2% during the second quarter. Select Equity Group L.P. now owns 603,877 shares of the scientific and technical instruments company’s stock worth $59,760,000 after buying an additional 279,629 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Itron by 2.2% during the first quarter. Janus Henderson Group PLC now owns 542,943 shares of the scientific and technical instruments company’s stock worth $50,233,000 after buying an additional 11,918 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Itron by 90.7% in the third quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company’s stock worth $54,658,000 after buying an additional 243,355 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.