Roth Mkm Issues Positive Forecast for Itron (NASDAQ:ITRI) Stock Price

Itron (NASDAQ:ITRI) had its price objective boosted by Roth Mkm from $125.00 to $130.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the scientific and technical instruments company’s stock.

A number of other brokerages have also issued reports on ITRI. Piper Sandler raised their target price on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research note on Friday. BNP Paribas initiated coverage on Itron in a research note on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price objective for the company. Guggenheim upgraded Itron from a “neutral” rating to a “buy” rating and set a $130.00 target price on the stock in a research report on Thursday, July 11th. Oppenheimer raised 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. Finally, Janney Montgomery Scott started coverage on shares of Itron in a research note on Friday, September 27th. They issued a “buy” rating and a $131.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $123.50.

Itron Stock Up 2.8 %

Shares of NASDAQ ITRI opened at $114.97 on Friday. Itron has a 12-month low of $62.45 and a 12-month high of $116.39. The stock’s fifty day simple moving average is $104.14 and its two-hundred day simple moving average is $102.91. The stock has a market capitalization of $5.18 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 0.81 and a beta of 1.46. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91.

Itron (NASDAQ:ITRI) last posted its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.71. Itron had a return on equity of 19.03% and a net margin of 9.37%. The company had revenue of $615.46 million for the quarter, compared to analyst estimates of $596.41 million. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, analysts expect that Itron will post 5.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Thomas Deitrich sold 887 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $90,607.05. Following the sale, the chief executive officer now directly owns 205,276 shares in the company, valued at $20,968,943.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $425,210.00. Following the completion of the transaction, the senior vice president now directly owns 16,269 shares in the company, valued at approximately $1,643,169. 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 hyperlink. Also, CEO Thomas Deitrich sold 887 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $90,607.05. Following the transaction, the chief executive officer now directly owns 205,276 shares in the company, valued at approximately $20,968,943.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ITRI. Vanguard Group Inc. raised its holdings 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 raised its stake 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 during the last quarter. Select Equity Group L.P. lifted its holdings in Itron by 86.2% in the 2nd quarter. Select Equity Group L.P. now owns 603,877 shares of the scientific and technical instruments company’s stock valued at $59,760,000 after purchasing an additional 279,629 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Itron by 2.2% during the 1st quarter. Janus Henderson Group PLC now owns 542,943 shares of the scientific and technical instruments company’s stock worth $50,233,000 after purchasing an additional 11,918 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Itron by 90.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company’s stock worth $54,658,000 after purchasing an additional 243,355 shares during the last quarter. 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.