Guggenheim Forecasts Strong Price Appreciation for Itron (NASDAQ:ITRI) Stock

Itron (NASDAQ:ITRI) had its price objective increased by investment analysts at Guggenheim from $128.00 to $135.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. Guggenheim’s price target indicates a potential upside of 9.82% from the company’s current price.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. BNP Paribas initiated coverage on Itron in a report on Thursday, September 5th. They set an “outperform” rating and a $133.00 price target on the stock. Roth Mkm upped their price objective on Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. TD Cowen lifted their target price on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Stephens restated an “equal weight” rating and set a $110.00 price target on shares of Itron in a research note on Monday, August 5th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Itron presently has a consensus rating of “Moderate Buy” and an average price target of $123.92.

Itron Stock Performance

Shares of ITRI stock opened at $122.93 on Wednesday. Itron has a 1 year low of $62.45 and a 1 year high of $123.80. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 0.86 and a beta of 1.46. The stock’s 50-day moving average is $105.33 and its two-hundred day moving average is $103.37.

Itron (NASDAQ:ITRI) last released its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.71. The firm had revenue of $615.46 million for the quarter, compared to the consensus estimate of $596.41 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. Analysts predict that Itron will post 5.34 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total value of $425,210.00. Following the completion of the transaction, the senior vice president now owns 16,269 shares in the company, valued at $1,643,169. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Joan S. Hooper sold 509 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total value of $51,994.35. Following the completion of the transaction, the chief financial officer now owns 72,338 shares in the company, valued at $7,389,326.70. 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 available through the SEC website. Also, SVP Donald L. Reeves III sold 4,210 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was 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 owns 16,269 shares in the company, valued at $1,643,169. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,276 shares of company stock worth $4,515,846. Corporate insiders own 1.45% of the company’s stock.

Hedge Funds Weigh In On Itron

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ITRI. Vanguard Group Inc. lifted 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 valued at $527,488,000 after acquiring an additional 45,909 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Itron by 62.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 899,789 shares of the scientific and technical instruments company’s stock worth $96,106,000 after purchasing an additional 346,615 shares during the last quarter. Select Equity Group L.P. grew its holdings 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 buying an additional 279,629 shares in 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. lifted its stake in shares of Itron by 90.7% during 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 period. Institutional investors and hedge funds own 96.19% of the company’s stock.

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.