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

Shares of Itron, Inc. (NASDAQ:ITRI) have earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $127.64.

ITRI has been the topic of several recent research reports. Guggenheim decreased their price objective on shares of Itron from $135.00 to $133.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Canaccord Genuity Group raised their price target on Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. StockNews.com cut Itron from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 1st. Piper Sandler upped their target price on shares of Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Finally, Oppenheimer raised their target price on shares of Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th.

Insider Activity

In related news, Director Mary C. Hemmingsen sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $107.27, for a total value of $80,452.50. Following the sale, the director now owns 5,630 shares of the company’s stock, valued at approximately $603,930.10. This trade represents a 11.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO David Marshall Wright sold 317 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $29,449.30. Following the transaction, the chief accounting officer now owns 8,108 shares of the company’s stock, valued at approximately $753,233.20. The trade was a 3.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,037 shares of company stock valued at $385,815. Company insiders own 1.51% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ITRI. Geode Capital Management LLC boosted its position in shares of Itron by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock worth $114,835,000 after buying an additional 5,630 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in Itron by 78.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 6,083 shares of the scientific and technical instruments company’s stock valued at $660,000 after acquiring an additional 2,671 shares in the last quarter. Intech Investment Management LLC boosted its position in Itron by 112.7% during the 4th quarter. Intech Investment Management LLC now owns 41,363 shares of the scientific and technical instruments company’s stock worth $4,491,000 after acquiring an additional 21,919 shares during the period. Systematic Financial Management LP grew its stake in shares of Itron by 12.2% in the third quarter. Systematic Financial Management LP now owns 134,362 shares of the scientific and technical instruments company’s stock worth $14,351,000 after purchasing an additional 14,590 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of Itron during the fourth quarter valued at $301,000. 96.19% of the stock is owned by institutional investors and hedge funds.

Itron Trading Down 6.0 %

Shares of Itron stock opened at $94.79 on Friday. Itron has a 12-month low of $88.87 and a 12-month high of $124.90. The stock has a market cap of $4.32 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39. The company has a 50-day moving average of $103.81 and a two-hundred day moving average of $107.96. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91.

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.