Itron, Inc. (NASDAQ:ITRI) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Itron, Inc. (NASDAQ:ITRI) have received a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $123.92.

ITRI has been the subject of several recent research reports. Janney Montgomery Scott initiated coverage on Itron in a research report on Friday, September 27th. They set a “buy” rating and a $131.00 price target for the company. Robert W. Baird raised their target price on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Roth Mkm upped 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. Piper Sandler increased their price target on shares of Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Oppenheimer boosted their price objective on shares of Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st.

Insider Transactions at Itron

In other Itron news, CEO Thomas Deitrich sold 37,500 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the transaction, the chief executive officer now owns 205,276 shares in the company, valued at $21,519,083.08. This trade represents a 15.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.45% of the company’s stock.

Hedge Funds Weigh In On Itron

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP boosted its stake in shares of Itron by 53.0% in the second quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock valued at $35,000 after buying an additional 122 shares during the period. Continuum Advisory LLC lifted its position in shares of Itron by 42.1% during the 3rd quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock valued at $40,000 after acquiring an additional 102 shares during the period. Covestor Ltd lifted 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 during the period. Farther Finance Advisors LLC increased its position in shares of Itron by 21.7% in the third quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock worth $77,000 after purchasing an additional 129 shares during the period. Finally, Truvestments Capital LLC acquired a new position in Itron in the third quarter valued at about $103,000. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Itron Trading Up 1.4 %

NASDAQ ITRI opened at $110.45 on Thursday. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 0.86 and a beta of 1.46. Itron has a 52 week low of $67.21 and a 52 week high of $124.90. The stock’s 50 day moving average price is $113.20 and its two-hundred day moving average price is $105.96. 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 (NASDAQ:ITRI) last announced its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.13 by $0.71. Itron had a net margin of 9.37% and a return on equity of 19.03%. The business had revenue of $615.46 million during the quarter, compared to analysts’ expectations of $596.41 million. During the same quarter in the prior year, the company posted $0.98 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. As a group, analysts anticipate that Itron will post 5.33 earnings per share 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.