Oppenheimer Issues Positive Forecast for Itron (NASDAQ:ITRI) Stock Price

Itron (NASDAQ:ITRI) had its price target boosted by equities research analysts at Oppenheimer from $124.00 to $131.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the scientific and technical instruments company’s stock. Oppenheimer’s target price indicates a potential upside of 22.56% from the company’s current price.

A number of other equities research analysts have also recently weighed in on ITRI. Robert W. Baird lifted their price objective on Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Guggenheim lifted their price objective on Itron from $128.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. TD Cowen lifted their price objective on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com raised Itron from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Piper Sandler lifted their price objective on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $127.64.

Itron Price Performance

ITRI stock opened at $106.89 on Wednesday. The business has a fifty day moving average of $104.98 and a two-hundred day moving average of $106.85. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 0.81 and a beta of 1.46. Itron has a 52-week low of $86.13 and a 52-week high of $124.90.

Insider Buying and Selling

In other Itron news, CFO Joan S. Hooper sold 2,322 shares of Itron stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $215,713.80. Following the completion of the sale, the chief financial officer now directly owns 92,076 shares of the company’s stock, valued at $8,553,860.40. The trade was a 2.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Christopher E. Ware sold 648 shares of Itron stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $60,199.20. Following the sale, the senior vice president now directly owns 20,326 shares of the company’s stock, valued at $1,888,285.40. This trade represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,287 shares of company stock valued at $305,362 in the last three months. 1.45% of the stock is owned by corporate insiders.

Institutional Trading of Itron

Institutional investors have recently bought and sold shares of the business. Creative Planning lifted its holdings in shares of Itron by 17.1% in the 3rd quarter. Creative Planning now owns 15,677 shares of the scientific and technical instruments company’s stock valued at $1,674,000 after purchasing an additional 2,284 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Itron by 27.4% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 3,412 shares of the scientific and technical instruments company’s stock valued at $364,000 after purchasing an additional 734 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Itron in the 3rd quarter valued at about $223,000. Adams Natural Resources Fund Inc. purchased a new stake in shares of Itron in the 3rd quarter valued at about $3,023,000. Finally, Pinnacle Associates Ltd. lifted its holdings in shares of Itron by 9.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 398,372 shares of the scientific and technical instruments company’s stock valued at $42,550,000 after purchasing an additional 34,014 shares during the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

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.