Itron, Inc. (NASDAQ:ITRI) Receives $123.92 Average PT from Brokerages

Itron, Inc. (NASDAQ:ITRI) has earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $123.92.

Several equities analysts have commented on the stock. Janney Montgomery Scott began coverage on shares of Itron in a research note on Friday, September 27th. They set a “buy” rating and a $131.00 target price on the stock. Robert W. Baird raised their price objective on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Roth Mkm upped their target price on Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. TD Cowen lifted their price target on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Piper Sandler upped their price objective on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a report on Friday, November 1st.

Institutional Trading of Itron

Several institutional investors and hedge funds have recently bought and sold shares of ITRI. Moody Aldrich Partners LLC boosted its holdings in shares of Itron by 7.3% in the fourth quarter. Moody Aldrich Partners LLC now owns 43,053 shares of the scientific and technical instruments company’s stock worth $4,675,000 after buying an additional 2,945 shares during the period. Mount Yale Investment Advisors LLC purchased a new stake in shares of Itron in the 4th quarter valued at approximately $286,000. Janney Montgomery Scott LLC lifted its position in shares of Itron by 45.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,674 shares of the scientific and technical instruments company’s stock valued at $1,810,000 after acquiring an additional 5,249 shares in the last quarter. Merit Financial Group LLC acquired a new position in Itron in the 4th quarter worth approximately $301,000. Finally, Hennion & Walsh Asset Management Inc. grew its position in Itron by 78.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 6,083 shares of the scientific and technical instruments company’s stock worth $660,000 after purchasing an additional 2,671 shares in the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

Itron Stock Performance

Shares of NASDAQ ITRI opened at $106.86 on Monday. Itron has a 12-month low of $71.00 and a 12-month high of $124.90. The company has a market cap of $4.82 billion, a PE ratio of 21.90, a P/E/G ratio of 0.88 and a beta of 1.47. The stock has a 50 day simple moving average of $111.24 and a 200-day simple moving average of $106.83. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.71. The company had revenue of $615.46 million during the quarter, compared to analyst estimates of $596.41 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 EPS. On average, equities research analysts forecast that Itron will post 5.33 EPS for the current year.

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.