Piper Sandler Cuts Itron (NASDAQ:ITRI) Price Target to $103.00

Itron (NASDAQ:ITRI) had its price target lowered by Piper Sandler from $105.00 to $103.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the scientific and technical instruments company’s stock. Piper Sandler’s price target would suggest a potential upside of 12.64% from the stock’s current price.

ITRI has been the subject of a number of other research reports. TheStreet upgraded shares of Itron from a “c” rating to a “b-” rating in a research note on Monday, February 26th. TD Cowen increased their price target on shares of Itron from $107.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. Robert W. Baird increased their price target on shares of Itron from $108.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. Oppenheimer raised shares of Itron from a “market perform” rating to an “outperform” rating and set a $81.00 price target on the stock in a report on Friday, January 19th. Finally, Raymond James lowered shares of Itron from an “outperform” rating to a “market perform” rating in a report on Thursday, January 4th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Itron currently has an average rating of “Moderate Buy” and a consensus target price of $95.60.

Itron Stock Down 0.8 %

Itron stock opened at $91.44 on Thursday. The company has a market cap of $4.19 billion, a P/E ratio of 43.54, a price-to-earnings-growth ratio of 1.02 and a beta of 1.41. Itron has a 1-year low of $50.60 and a 1-year high of $96.73. The company has a fifty day simple moving average of $86.27 and a 200 day simple moving average of $73.73. The company has a current ratio of 1.95, a quick ratio of 1.43 and a debt-to-equity ratio of 0.34.

Itron (NASDAQ:ITRI) last released its earnings results on Monday, February 26th. The scientific and technical instruments company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.48. The business had revenue of $577.17 million during the quarter, compared to the consensus estimate of $569.90 million. Itron had a net margin of 4.46% and a return on equity of 12.27%. The firm’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 earnings per share. Research analysts anticipate that Itron will post 3.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Itron news, Director Jerome J. Lande sold 14,896 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the sale, the director now directly owns 5,750 shares of the company’s stock, valued at approximately $547,687.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Itron news, Director Jerome J. Lande sold 14,896 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the sale, the director now directly owns 5,750 shares of the company’s stock, valued at approximately $547,687.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donald L. Reeves III sold 383 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total transaction of $28,866.71. Following the sale, the senior vice president now directly owns 8,708 shares in the company, valued at $656,321.96. The disclosure for this sale can be found here. Insiders have sold 30,467 shares of company stock valued at $2,752,520 in the last ninety days. 1.45% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Itron by 32.7% in the 1st quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock worth $45,000 after purchasing an additional 121 shares during the period. Contravisory Investment Management Inc. lifted its position in shares of Itron by 61.5% in the 1st quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock worth $32,000 after purchasing an additional 131 shares during the period. Natixis Advisors L.P. lifted its position in shares of Itron by 0.4% in the 4th quarter. Natixis Advisors L.P. now owns 31,458 shares of the scientific and technical instruments company’s stock worth $2,375,000 after purchasing an additional 139 shares during the period. LPL Financial LLC lifted its position in shares of Itron by 1.4% in the 1st quarter. LPL Financial LLC now owns 12,430 shares of the scientific and technical instruments company’s stock worth $689,000 after purchasing an additional 175 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of Itron by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 12,933 shares of the scientific and technical instruments company’s stock worth $783,000 after purchasing an additional 180 shares during the period. Institutional investors and hedge funds own 96.19% of the company’s stock.

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.