Itron (NASDAQ:ITRI) Given Buy Rating at Roth Mkm

Roth Mkm reissued their buy rating on shares of Itron (NASDAQ:ITRI) in a report published on Tuesday, Benzinga reports. They currently have a $102.00 price objective on the scientific and technical instruments company’s stock.

Other equities analysts have also recently issued research reports about the company. Piper Sandler lowered their price target on Itron from $105.00 to $103.00 and set an overweight rating for the company in a report on Thursday, April 11th. Canaccord Genuity Group raised Itron from a hold rating to a buy rating and upped their target price for the stock from $68.00 to $105.00 in a report on Tuesday, February 27th. TheStreet raised Itron from a c rating to a b- rating in a report on Monday, February 26th. JPMorgan Chase & Co. upped their target price on Itron from $77.00 to $92.00 and gave the stock a neutral rating in a report on Wednesday, March 13th. Finally, Raymond James cut Itron from an outperform rating to a market perform rating in a research note on Thursday, January 4th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $97.60.

Itron Stock Performance

NASDAQ:ITRI opened at $94.84 on Tuesday. The stock has a fifty day moving average price of $88.21 and a 200-day moving average price of $75.27. The company has a market cap of $4.35 billion, a price-to-earnings ratio of 45.09, a PEG ratio of 0.99 and a beta of 1.41. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.43 and a current ratio of 1.95. Itron has a fifty-two week low of $50.60 and a fifty-two week high of $96.73.

Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Monday, February 26th. The scientific and technical instruments company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.48. Itron had a return on equity of 12.27% and a net margin of 4.46%. The company had revenue of $577.17 million during the quarter, compared to analysts’ expectations of $569.90 million. During the same quarter in the previous year, the firm earned $0.71 EPS. Itron’s revenue was up 23.5% on a year-over-year basis. As a group, equities analysts anticipate that Itron will post 3.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other Itron news, CFO Joan S. Hooper sold 1,560 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $117,577.20. Following the transaction, the chief financial officer now owns 60,141 shares in the company, valued at $4,532,827.17. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Thomas Deitrich sold 1,912 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $144,107.44. Following the completion of the sale, the chief executive officer now directly owns 169,073 shares of the company’s stock, valued at $12,743,032.01. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Joan S. Hooper sold 1,560 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $117,577.20. Following the completion of the sale, the chief financial officer now directly owns 60,141 shares of the company’s stock, valued at $4,532,827.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,467 shares of company stock worth $2,752,520. Corporate insiders own 1.45% of the company’s stock.

Institutional Trading of Itron

Several institutional investors and hedge funds have recently modified their holdings of ITRI. Norges Bank purchased a new stake in shares of Itron during the fourth quarter valued at approximately $24,504,000. Assenagon Asset Management S.A. increased its position in shares of Itron by 517.4% during the third quarter. Assenagon Asset Management S.A. now owns 246,688 shares of the scientific and technical instruments company’s stock valued at $14,944,000 after acquiring an additional 206,729 shares during the last quarter. Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Itron during the fourth quarter valued at approximately $11,654,000. Vanguard Group Inc. increased its position in shares of Itron by 2.6% during the third quarter. Vanguard Group Inc. now owns 5,668,071 shares of the scientific and technical instruments company’s stock valued at $343,372,000 after acquiring an additional 142,564 shares during the last quarter. Finally, Braun Stacey Associates Inc. increased its position in shares of Itron by 140.6% during the fourth quarter. Braun Stacey Associates Inc. now owns 216,188 shares of the scientific and technical instruments company’s stock valued at $16,324,000 after acquiring an additional 126,328 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.