Itron (NASDAQ:ITRI) Price Target Raised to $136.00 at TD Cowen

Itron (NASDAQ:ITRI) had its price target lifted by investment analysts at TD Cowen from $125.00 to $136.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the scientific and technical instruments company’s stock. TD Cowen’s price objective would suggest a potential upside of 21.82% from the company’s current price.

Several other analysts have also issued reports on the stock. Oppenheimer boosted their price objective on shares of Itron from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday. Piper Sandler boosted their target price on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research note on Friday. Roth Mkm reaffirmed a “buy” rating and issued a $125.00 price target on shares of Itron in a research report on Wednesday, August 21st. BNP Paribas assumed coverage on shares of Itron in a research note on Thursday, September 5th. They set an “outperform” rating and a $133.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Itron currently has an average rating of “Moderate Buy” and an average price target of $123.50.

Itron Price Performance

NASDAQ ITRI traded down $0.12 during trading hours on Friday, hitting $111.64. 595,314 shares of the company’s stock traded hands, compared to its average volume of 519,338. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.16 and a quick ratio of 2.61. The firm’s 50-day moving average is $103.68 and its 200-day moving average is $102.41. Itron has a 52-week low of $58.88 and a 52-week high of $116.39. The company has a market capitalization of $5.02 billion, a PE ratio of 27.56, a PEG ratio of 0.87 and a beta of 1.47.

Itron (NASDAQ:ITRI) last announced 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. Itron had a net margin of 7.98% and a return on equity of 16.42%. The firm had revenue of $615.46 million for the quarter, compared to analysts’ expectations of $596.41 million. During the same quarter in the previous year, the company posted $0.98 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. Equities analysts forecast that Itron will post 4.58 EPS for the current fiscal year.

Insider Transactions at Itron

In other news, CEO Thomas Deitrich sold 37,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the completion of the transaction, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at approximately $21,519,083.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Itron news, CEO Thomas Deitrich sold 37,500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total value of $3,931,125.00. Following the completion of the transaction, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at approximately $21,519,083.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Donald L. Reeves III sold 4,210 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total value of $425,210.00. Following the sale, the senior vice president now directly owns 16,269 shares in the company, valued at $1,643,169. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,276 shares of company stock worth $4,515,846. Company insiders own 1.45% of the company’s stock.

Hedge Funds Weigh In On Itron

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Itron by 0.8% during the first quarter. Vanguard Group Inc. now owns 5,701,337 shares of the scientific and technical instruments company’s stock valued at $527,488,000 after acquiring an additional 45,909 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in Itron by 62.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 899,789 shares of the scientific and technical instruments company’s stock valued at $96,106,000 after purchasing an additional 346,615 shares in the last quarter. Select Equity Group L.P. boosted its stake in shares of Itron by 86.2% during the 2nd 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. Janus Henderson Group PLC grew its holdings in shares of Itron by 2.2% during the first quarter. Janus Henderson Group PLC now owns 542,943 shares of the scientific and technical instruments company’s stock worth $50,233,000 after buying an additional 11,918 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Itron by 90.7% in the third quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company’s stock valued at $54,658,000 after buying an additional 243,355 shares during the last quarter. 96.19% of the stock is currently 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.