Brokerages Set Itron, Inc. (NASDAQ:ITRI) Target Price at $118.64

Itron, Inc. (NASDAQ:ITRI) has been assigned an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $118.64.

A number of equities research analysts have weighed in on the company. Piper Sandler lifted their target price on Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. BNP Paribas assumed coverage on shares of Itron in a research note on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price objective for the company. Oppenheimer increased their target price on shares of Itron from $110.00 to $112.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Roth Mkm reaffirmed a “buy” rating and issued a $125.00 price target on shares of Itron in a research note on Wednesday, August 21st. Finally, JPMorgan Chase & Co. increased their price objective 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.

Insider Activity at Itron

In related news, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Joan S. Hooper sold 509 shares of the stock in a transaction that occurred 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 directly owns 72,338 shares of the company’s stock, valued at $7,389,326.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Donald L. Reeves III sold 4,210 shares of the business’s stock in a transaction 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 transaction, the senior vice president now directly owns 16,269 shares in the company, valued at approximately $1,643,169. The disclosure for this sale can be found here. Insiders have sold a total of 5,776 shares of company stock valued at $584,721 over the last 90 days. Insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Itron

Several large investors have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new position in Itron during the second quarter valued at about $239,000. Truist Financial Corp grew its position in shares of Itron by 27.5% during the 2nd quarter. Truist Financial Corp now owns 3,475 shares of the scientific and technical instruments company’s stock valued at $344,000 after acquiring an additional 750 shares during the period. Quarry LP raised its holdings in shares of Itron by 53.0% in the 2nd quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock worth $35,000 after purchasing an additional 122 shares during the period. Creative Planning lifted its stake in Itron by 27.2% in the second quarter. Creative Planning now owns 13,393 shares of the scientific and technical instruments company’s stock valued at $1,325,000 after purchasing an additional 2,867 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new position in Itron during the second quarter valued at $18,758,000. 96.19% of the stock is owned by hedge funds and other institutional investors.

Itron Stock Performance

Shares of ITRI stock opened at $106.38 on Tuesday. The stock has a market capitalization of $4.88 billion, a PE ratio of 30.57, a PEG ratio of 0.84 and a beta of 1.47. The business’s 50 day simple moving average is $100.80 and its 200 day simple moving average is $99.34. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.16 and a quick ratio of 2.61. Itron has a one year low of $56.11 and a one year high of $113.07.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.25. The company had revenue of $609.07 million during the quarter, compared to analysts’ expectations of $599.25 million. Itron had a net margin of 7.98% and a return on equity of 16.42%. Itron’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 earnings per share. As a group, research analysts forecast that Itron will post 4.59 earnings per share 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.