Itron (NASDAQ:ITRI) Now Covered by Analysts at Piper Sandler

Research analysts at Piper Sandler started coverage on shares of Itron (NASDAQ:ITRI – Get Rating) in a research note issued to investors on Thursday, Briefing.com reports. The brokerage set a “neutral” rating and a $51.00 price target on the scientific and technical instruments company’s stock. Piper Sandler’s price target would indicate a potential upside of 9.07% from the company’s current price.

A number of other brokerages have also recently commented on ITRI. TheStreet cut Itron from a “c-” rating to a “d+” rating in a research report on Wednesday, March 9th. Stephens dropped their target price on Itron from $90.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, March 2nd. Morgan Stanley dropped their price objective on Itron from $75.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, March 1st. Zacks Investment Research cut Itron from a “hold” rating to a “strong sell” rating and set a $43.00 target price for the company. in a research note on Thursday, March 3rd. Finally, StockNews.com raised Itron from a “hold” rating to a “buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $71.36.

ITRI stock opened at $46.76 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.58 and a quick ratio of 1.17. Itron has a fifty-two week low of $44.02 and a fifty-two week high of $102.32. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of -22.81 and a beta of 1.26. The business’s fifty day moving average price is $49.79 and its two-hundred day moving average price is $59.19.

Itron (NASDAQ:ITRI – Get Rating) last posted its quarterly earnings data on Monday, May 2nd. The scientific and technical instruments company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The company had revenue of $475.30 million for the quarter, compared to analyst estimates of $488.49 million. Itron had a positive return on equity of 5.19% and a negative net margin of 4.80%. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 earnings per share. Research analysts expect that Itron will post 1.42 EPS for the current year.

In related news, CEO Thomas Deitrich sold 4,639 shares of the business’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $54.05, for a total transaction of $250,737.95. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Michel Cadieux sold 1,745 shares of Itron stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $49.50, for a total transaction of $86,377.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,033 shares of company stock valued at $696,751. Insiders own 1.37% of the company’s stock.

Several hedge funds have recently made changes to their positions in ITRI. Wolverine Asset Management LLC bought a new position in Itron in the first quarter valued at $36,000. US Bancorp DE grew its holdings in shares of Itron by 104.5% during the 3rd quarter. US Bancorp DE now owns 501 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 256 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Itron by 29.1% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,376 shares of the scientific and technical instruments company’s stock valued at $72,000 after purchasing an additional 310 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Itron by 17.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,409 shares of the scientific and technical instruments company’s stock worth $97,000 after purchasing an additional 211 shares during the period. Finally, AGF Investments Inc. acquired a new position in shares of Itron during the 3rd quarter valued at $166,000. Institutional investors own 99.15% of the company’s stock.

About Itron (Get Rating)

Itron, Inc, a technology and service company, provides end-to-end solutions that help manage operations in the energy, water, and smart city space worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.

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