BNP Paribas Initiates Coverage on Itron (NASDAQ:ITRI)

Equities research analysts at BNP Paribas began coverage on shares of Itron (NASDAQ:ITRI) in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm set an “outperform” rating and a $133.00 price target on the scientific and technical instruments company’s stock. BNP Paribas’ target price would suggest a potential upside of 37.48% from the company’s previous close.

A number of other equities research analysts have also issued reports on ITRI. Canaccord Genuity Group increased their price target on Itron from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. 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. Piper Sandler increased their price target on Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. increased their price target on Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Finally, Oppenheimer increased their price target on Itron from $110.00 to $112.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.64.

Itron Price Performance

Shares of Itron stock opened at $96.74 on Thursday. Itron has a one year low of $56.11 and a one year high of $113.07. The stock’s fifty day moving average is $100.45 and its 200 day moving average is $98.30. The stock has a market cap of $4.44 billion, a P/E ratio of 27.80, a P/E/G ratio of 0.86 and a beta of 1.45. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.61 and a current ratio of 3.16.

Itron (NASDAQ:ITRI) last announced its earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.25. Itron had a return on equity of 16.42% and a net margin of 7.98%. The company had revenue of $609.07 million for the quarter, compared to analysts’ expectations of $599.25 million. During the same period last year, the firm earned $0.65 EPS. Itron’s revenue for the quarter was up 12.6% compared to the same quarter last year. Sell-side analysts anticipate that Itron will post 4.59 earnings per share for the current year.

Insider Activity at Itron

In other Itron news, CEO Thomas Deitrich sold 887 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 205,276 shares of the company’s stock, valued at approximately $20,968,943.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Thomas Deitrich sold 887 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $102.15, for a total value of $90,607.05. Following the completion of the transaction, the chief executive officer now directly owns 205,276 shares in the company, valued at $20,968,943.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Donald L. Reeves III sold 4,210 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were 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 owns 16,269 shares in the company, valued at approximately $1,643,169. The disclosure for this sale can be found here. Insiders sold 5,776 shares of company stock valued at $584,721 in the last three months. 1.45% of the stock is owned by insiders.

Institutional Investors Weigh In On Itron

Several hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its holdings in Itron by 31.0% during the fourth quarter. Victory Capital Management Inc. now owns 14,122 shares of the scientific and technical instruments company’s stock worth $1,066,000 after acquiring an additional 3,338 shares during the period. Natixis Advisors L.P. boosted its holdings in Itron by 0.4% during the fourth quarter. Natixis Advisors L.P. now owns 31,458 shares of the scientific and technical instruments company’s stock worth $2,375,000 after buying an additional 139 shares in the last quarter. Private Advisor Group LLC acquired a new stake in Itron during the fourth quarter valued at $996,000. Charles Schwab Investment Management Inc. grew its position in Itron by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 518,157 shares of the scientific and technical instruments company’s stock valued at $39,126,000 after buying an additional 15,157 shares during the period. Finally, Mesirow Institutional Investment Management Inc. purchased a new position in Itron in the fourth quarter valued at $11,654,000. 96.19% of the stock is owned by hedge funds and other institutional investors.

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.