Guggenheim Issues Positive Forecast for Itron (NASDAQ:ITRI) Stock Price

Itron (NASDAQ:ITRI) had its target price increased by Guggenheim from $128.00 to $135.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the scientific and technical instruments company’s stock.

A number of other analysts have also recently issued reports on ITRI. TD Cowen lifted their price objective on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Oppenheimer lifted their price target on Itron from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Janney Montgomery Scott began coverage on Itron in a report on Friday, September 27th. They issued a “buy” rating and a $131.00 price objective on the stock. Stephens reiterated an “equal weight” rating and issued a $110.00 target price on shares of Itron in a research note on Monday, August 5th. Finally, BNP Paribas assumed coverage on shares of Itron in a research note on Thursday, September 5th. They set an “outperform” rating and a $133.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $123.92.

Itron Trading Up 0.7 %

NASDAQ:ITRI opened at $123.73 on Wednesday. The stock’s 50-day moving average is $105.76 and its two-hundred day moving average is $103.66. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. The stock has a market cap of $5.58 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 0.92 and a beta of 1.46. Itron has a fifty-two week low of $62.45 and a fifty-two week high of $124.72.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.71. The firm had revenue of $615.46 million for the quarter, compared to the consensus estimate of $596.41 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 earnings per share. As a group, equities research analysts forecast that Itron will post 5.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 directly owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Donald L. Reeves III sold 4,210 shares of the company’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 completion of the transaction, the senior vice president now directly owns 16,269 shares in the company, valued at $1,643,169. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Joan S. Hooper sold 509 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $51,994.35. Following the completion of the sale, the chief financial officer now owns 72,338 shares in the company, valued at $7,389,326.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,276 shares of company stock valued at $4,515,846. Insiders own 1.45% of the company’s stock.

Hedge Funds Weigh In On Itron

Several large investors have recently added to or reduced their stakes in ITRI. Janney Montgomery Scott LLC bought a new stake in shares of Itron during the first quarter valued at approximately $346,000. Jennison Associates LLC raised its stake in shares of Itron by 19.3% in the 1st quarter. Jennison Associates LLC now owns 5,625 shares of the scientific and technical instruments company’s stock valued at $520,000 after buying an additional 909 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Itron by 293.4% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,198 shares of the scientific and technical instruments company’s stock worth $388,000 after acquiring an additional 3,131 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of Itron by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 39,815 shares of the scientific and technical instruments company’s stock valued at $3,684,000 after acquiring an additional 516 shares in the last quarter. Finally, Quantbot Technologies LP boosted its position in shares of Itron by 186.0% during the 1st quarter. Quantbot Technologies LP now owns 36,260 shares of the scientific and technical instruments company’s stock valued at $3,355,000 after acquiring an additional 23,581 shares in the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

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.