Itron, Inc. (NASDAQ:ITRI) Receives $123.50 Consensus Price Target from Brokerages

Itron, Inc. (NASDAQ:ITRI) has earned a consensus rating of “Moderate Buy” from the thirteen analysts that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $123.92.

ITRI has been the topic of a number of research reports. Janney Montgomery Scott initiated coverage on shares of Itron in a research report on Friday, September 27th. They issued a “buy” rating and a $131.00 price objective on the stock. Roth Mkm boosted their price objective 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. Oppenheimer upped their price target on shares of Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their price target on shares of Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Finally, TD Cowen upped their price target on shares of Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st.

Itron Stock Up 0.7 %

Itron stock opened at $123.73 on Wednesday. The stock has a market capitalization of $5.58 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 0.92 and a beta of 1.46. Itron has a twelve month low of $62.45 and a twelve month high of $124.72. 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 company has a 50 day moving average of $105.76 and a 200-day moving average of $103.60.

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, beating the consensus estimate of $1.13 by $0.71. The company had revenue of $615.46 million during the quarter, compared to analysts’ expectations of $596.41 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 earnings per share. On average, equities research analysts anticipate that Itron will post 5.33 EPS for the current fiscal year.

Insider Buying and Selling at Itron

In other Itron news, SVP Donald L. Reeves III sold 4,210 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 16,269 shares in the company, valued at $1,643,169. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related 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 transaction, the chief financial officer now directly owns 72,338 shares in the company, valued at approximately $7,389,326.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Donald L. Reeves III sold 4,210 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the transaction, the senior vice president now owns 16,269 shares in the company, 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 have sold a total of 43,276 shares of company stock worth $4,515,846 over the last ninety days. Insiders own 1.45% of the company’s stock.

Hedge Funds Weigh In On Itron

Several institutional investors and hedge funds have recently modified their holdings of the business. Hexagon Capital Partners LLC grew its stake in Itron by 85.6% during the second 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 in the last quarter. Quarry LP grew its stake in 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 buying an additional 122 shares in the last quarter. Covestor Ltd grew its stake in Itron by 26.1% during the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock worth $57,000 after buying an additional 111 shares in the last quarter. GAMMA Investing LLC grew its stake in Itron by 46.6% during the second quarter. GAMMA Investing LLC now owns 720 shares of the scientific and technical instruments company’s stock worth $71,000 after buying an additional 229 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings 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 acquiring an additional 129 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

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.