Itron (NASDAQ:ITRI) Given New $125.00 Price Target at Roth Mkm

Itron (NASDAQ:ITRI) had its target price raised by equities researchers at Roth Mkm from $122.00 to $125.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the scientific and technical instruments company’s stock. Roth Mkm’s price target suggests a potential upside of 22.19% from the company’s current price.

A number of other brokerages have also weighed in on ITRI. Robert W. Baird upped their target price on Itron from $115.00 to $123.00 and gave the stock an “outperform” rating in a research report on Friday. StockNews.com downgraded Itron from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 28th. Piper Sandler upped their price target on Itron from $109.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Canaccord Genuity Group raised their price target on Itron from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Finally, Guggenheim raised Itron from a “neutral” rating to a “buy” rating and set a $130.00 price target on the stock in a report on Thursday, July 11th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Itron Price Performance

Itron stock traded down $5.79 during midday trading on Friday, reaching $102.30. The company’s stock had a trading volume of 418,471 shares, compared to its average volume of 515,475. Itron has a 52 week low of $56.11 and a 52 week high of $113.07. The company has a current ratio of 1.90, a quick ratio of 1.40 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average price of $103.56 and a 200-day moving average price of $93.84. The stock has a market cap of $4.69 billion, a PE ratio of 29.40, a price-to-earnings-growth ratio of 0.97 and a beta of 1.45.

Itron (NASDAQ:ITRI) last released its quarterly earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.25. The company had revenue of $609.07 million for the quarter, compared to analysts’ expectations of $599.25 million. Itron had a return on equity of 14.51% and a net margin of 7.03%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 earnings per share. On average, sell-side analysts predict that Itron will post 4.1 EPS for the current year.

Insider Buying and Selling

In other Itron news, CFO Joan S. Hooper sold 501 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $108.87, for a total transaction of $54,543.87. Following the completion of the transaction, the chief financial officer now owns 72,847 shares in the company, valued at $7,930,852.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Christopher E. Ware sold 311 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $106.84, for a total transaction of $33,227.24. Following the transaction, the senior vice president now directly owns 15,371 shares of the company’s stock, valued at $1,642,237.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Joan S. Hooper sold 501 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $108.87, for a total value of $54,543.87. Following the transaction, the chief financial officer now directly owns 72,847 shares in the company, valued at $7,930,852.89. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,775 shares of company stock worth $192,613. Corporate insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Itron

A number of large investors have recently made changes to their positions in ITRI. Vanguard Group Inc. raised its position in shares of Itron by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,701,337 shares of the scientific and technical instruments company’s stock worth $527,488,000 after acquiring an additional 45,909 shares during the period. Dimensional Fund Advisors LP raised its holdings in Itron by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,681,573 shares of the scientific and technical instruments company’s stock valued at $126,978,000 after acquiring an additional 51,874 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in Itron by 16.0% in the 4th quarter. Vontobel Holding Ltd. now owns 804,648 shares of the scientific and technical instruments company’s stock valued at $60,759,000 after acquiring an additional 110,849 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Itron by 2.2% in the 1st quarter. Janus Henderson Group PLC now owns 542,943 shares of the scientific and technical instruments company’s stock valued at $50,233,000 after buying an additional 11,918 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Itron by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 518,157 shares of the scientific and technical instruments company’s stock valued at $39,126,000 after buying an additional 15,157 shares during the period. 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.