Analysts Set Itron, Inc. (NASDAQ:ITRI) Target Price at $123.92

Itron, Inc. (NASDAQ:ITRI) has earned an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $123.92.

ITRI has been the topic of several analyst reports. Robert W. Baird boosted their price objective on shares of Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. TD Cowen raised their price objective on Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. BNP Paribas began coverage on Itron in a report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 target price on the stock. Roth Mkm boosted their price target on shares of Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Oppenheimer increased their price target on Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, November 1st.

Insider Activity at Itron

In other news, CEO Thomas Deitrich sold 37,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total value of $3,931,125.00. Following the completion of the transaction, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at $21,519,083.08. This represents a 15.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.45% of the stock is owned by insiders.

Institutional Investors Weigh In On Itron

Large investors have recently made changes to their positions in the business. Quarry LP increased its holdings in Itron by 29.0% in the 3rd quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock worth $48,000 after acquiring an additional 102 shares during the last quarter. Continuum Advisory LLC increased its stake in shares of Itron by 42.1% in the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock worth $40,000 after purchasing an additional 102 shares in the last quarter. Stifel Financial Corp raised its position in shares of Itron by 2.2% in the third quarter. Stifel Financial Corp now owns 4,921 shares of the scientific and technical instruments company’s stock valued at $526,000 after purchasing an additional 108 shares during the period. Covestor Ltd lifted its stake 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 buying an additional 111 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its holdings in 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 period. 96.19% of the stock is owned by hedge funds and other institutional investors.

Itron Stock Down 0.2 %

Shares of NASDAQ:ITRI opened at $118.04 on Friday. 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 52-week low of $67.21 and a 52-week high of $124.90. The company has a market capitalization of $5.32 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. The company has a fifty day moving average of $111.37 and a 200-day moving average of $105.49.

Itron (NASDAQ:ITRI) last released its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.71. Itron had a return on equity of 19.03% and a net margin of 9.37%. The company had revenue of $615.46 million for the quarter, compared to analysts’ expectations of $596.41 million. During the same period in the previous year, the business posted $0.98 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities analysts predict that Itron will post 5.33 EPS for the current fiscal year.

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.