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

Shares of Itron, Inc. (NASDAQ:ITRI) have been given an average rating of “Moderate Buy” by the twelve analysts that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $118.64.

Several analysts have recently commented on the stock. Canaccord Genuity Group raised their price objective on shares of Itron from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Piper Sandler boosted their price objective on Itron from $109.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Roth Mkm reiterated a “buy” rating and set a $125.00 target price on shares of Itron in a research report on Wednesday, August 21st. StockNews.com cut Itron from a “strong-buy” rating to a “buy” rating in a report on Friday, June 28th. Finally, BNP Paribas assumed coverage on shares of Itron in a report on Thursday, September 5th. They set an “outperform” rating and a $133.00 price objective for the company.

Insider Buying and Selling

In other Itron news, CFO Joan S. Hooper sold 509 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $51,994.35. Following the sale, the chief financial officer now directly owns 72,338 shares in the company, valued at $7,389,326.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Itron news, CFO Joan S. Hooper sold 509 shares of Itron stock in a transaction on Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $51,994.35. Following the completion of the transaction, the chief financial officer now directly owns 72,338 shares of the company’s stock, valued at $7,389,326.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction on 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 sale, the senior vice president now directly owns 16,269 shares in the company, valued at approximately $1,643,169. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,776 shares of company stock worth $584,721. Corporate insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Silvercrest Asset Management Group LLC bought a new stake in shares of Itron during the 1st quarter worth approximately $401,000. Norges Bank purchased a new stake in Itron in the fourth quarter worth $24,504,000. Select Equity Group L.P. lifted its position in shares of Itron by 86.2% during the second quarter. Select Equity Group L.P. now owns 603,877 shares of the scientific and technical instruments company’s stock worth $59,760,000 after purchasing an additional 279,629 shares during the last quarter. Hood River Capital Management LLC purchased a new stake in shares of Itron during the second quarter valued at $22,612,000. Finally, Driehaus Capital Management LLC bought a new position in shares of Itron in the second quarter worth about $18,758,000. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Itron Price Performance

NASDAQ ITRI opened at $107.22 on Tuesday. The business’s fifty day moving average is $100.85 and its 200 day moving average is $99.49. Itron has a fifty-two week low of $56.11 and a fifty-two week high of $113.07. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.61 and a current ratio of 3.16. The company has a market capitalization of $4.92 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 0.84 and a beta of 1.47.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.25. The company had revenue of $609.07 million during the quarter, compared to the consensus estimate of $599.25 million. Itron had a return on equity of 16.42% and a net margin of 7.98%. The firm’s revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 EPS. Sell-side analysts predict that Itron will post 4.59 earnings per share for the current year.

Itron Company Profile

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.