Analysts Set Itron, Inc. (NASDAQ:ITRI) Price Target at $123.50

Itron, Inc. (NASDAQ:ITRI) has been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $123.92.

A number of analysts have recently commented on ITRI shares. JPMorgan Chase & Co. upped their price objective on Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Oppenheimer raised their price objective on Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Janney Montgomery Scott initiated coverage on Itron in a report on Friday, September 27th. They set a “buy” rating and a $131.00 target price for the company. BNP Paribas started coverage on shares of Itron in a report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price target on the stock. Finally, TD Cowen boosted their price objective on shares of Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st.

Itron Stock Performance

Itron stock opened at $123.73 on Wednesday. The stock has a fifty day moving average price of $105.76 and a 200 day moving average price of $103.72. Itron has a 52 week low of $62.45 and a 52 week high of $124.72. The firm has a market capitalization of $5.58 billion, a P/E ratio of 25.35, a PEG ratio of 0.93 and a beta of 1.46. 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 posted 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. Itron had a net margin of 9.37% and a return on equity of 19.03%. The company had revenue of $615.46 million during the quarter, compared to the consensus estimate of $596.41 million. During the same quarter in the prior year, the company posted $0.98 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts anticipate that Itron will post 5.33 earnings per share for the current year.

Insider Activity

In related news, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction dated 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Joan S. Hooper sold 509 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $51,994.35. Following the sale, the chief financial officer now owns 72,338 shares in the company, valued at approximately $7,389,326.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction dated 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 owns 16,269 shares of the company’s stock, valued at $1,643,169. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,198 shares of company stock worth $4,508,334 over the last ninety days. Corporate insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Covestor Ltd raised its position in shares of Itron by 26.1% during the 3rd quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock valued at $57,000 after acquiring an additional 111 shares in the last quarter. Quarry LP raised its holdings in shares of Itron by 53.0% during the second 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. Hexagon Capital Partners LLC lifted its position in shares of Itron by 85.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock worth $27,000 after buying an additional 125 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Itron by 21.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock valued at $77,000 after buying an additional 129 shares during the period. Finally, Xponance Inc. grew its position in shares of Itron by 5.1% during the 2nd quarter. Xponance Inc. now owns 2,910 shares of the scientific and technical instruments company’s stock valued at $288,000 after buying an additional 142 shares during the last quarter. Institutional investors 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.