Itron (NASDAQ:ITRI) Stock Price Expected to Rise, Piper Sandler Analyst Says

Itron (NASDAQ:ITRI) had its price target hoisted by Piper Sandler from $119.00 to $124.00 in a report issued on Thursday,Benzinga reports. They currently have a neutral rating on the scientific and technical instruments company’s stock.

Other analysts have also recently issued research reports about the company. Roth Mkm boosted their target price on Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Guggenheim boosted their target price on Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Canaccord Genuity Group boosted their target price on Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday. Oppenheimer boosted their target price on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Robert W. Baird upped their price target on Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $127.64.

Itron Stock Up 1.9 %

Shares of NASDAQ:ITRI opened at $108.89 on Thursday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. Itron has a 1 year low of $86.13 and a 1 year high of $124.90. The stock has a market capitalization of $4.91 billion, a P/E ratio of 22.31, a PEG ratio of 0.81 and a beta of 1.46. The stock has a 50-day simple moving average of $104.96 and a 200-day simple moving average of $106.95.

Insider Buying and Selling at Itron

In other Itron news, SVP Christopher E. Ware sold 648 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $60,199.20. Following the transaction, the senior vice president now directly owns 20,326 shares of the company’s stock, valued at $1,888,285.40. This represents a 3.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mary C. Hemmingsen sold 750 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $107.27, for a total value of $80,452.50. Following the completion of the transaction, the director now directly owns 5,630 shares in the company, valued at approximately $603,930.10. The trade was a 11.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,037 shares of company stock valued at $385,815 in the last three months. Corporate insiders own 1.45% of the company’s stock.

Hedge Funds Weigh In On Itron

A number of institutional investors have recently made changes to their positions in ITRI. Geode Capital Management LLC raised its position in shares of Itron by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock valued at $114,835,000 after acquiring an additional 5,630 shares in the last quarter. First Trust Advisors LP raised its position in shares of Itron by 9.1% during the 4th quarter. First Trust Advisors LP now owns 802,584 shares of the scientific and technical instruments company’s stock valued at $87,145,000 after acquiring an additional 66,637 shares in the last quarter. Norges Bank acquired a new stake in shares of Itron during the 4th quarter valued at approximately $64,615,000. Northern Trust Corp raised its position in shares of Itron by 11.4% during the 4th quarter. Northern Trust Corp now owns 572,266 shares of the scientific and technical instruments company’s stock valued at $62,137,000 after acquiring an additional 58,546 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its position in shares of Itron by 21.5% during the 4th quarter. Nuveen Asset Management LLC now owns 560,478 shares of the scientific and technical instruments company’s stock valued at $60,857,000 after acquiring an additional 99,142 shares in the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

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.