Itron’s (ITRI) Overweight Rating Reaffirmed at Piper Sandler

Itron (NASDAQ:ITRI)‘s stock had its “overweight” rating reissued by investment analysts at Piper Sandler in a research note issued on Friday, Benzinga reports. They presently have a $109.00 price target on the scientific and technical instruments company’s stock, up from their previous price target of $103.00. Piper Sandler’s price target suggests a potential upside of 1.86% from the company’s previous close.

ITRI has been the topic of a number of other research reports. Raymond James downgraded Itron from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 4th. Roth Mkm reissued a “buy” rating and set a $102.00 price target on shares of Itron in a research report on Tuesday, April 23rd. Canaccord Genuity Group upgraded Itron from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $105.00 in a report on Tuesday, February 27th. TD Cowen boosted their price objective on Itron from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday. Finally, Oppenheimer upgraded Itron from a “market perform” rating to an “outperform” rating and set a $81.00 price target for the company in a research note on Friday, January 19th. Three investment 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.60.

Itron Price Performance

NASDAQ:ITRI opened at $107.01 on Friday. The stock’s 50-day simple moving average is $91.94 and its 200 day simple moving average is $77.51. The company has a market cap of $4.91 billion, a P/E ratio of 30.75, a P/E/G ratio of 1.11 and a beta of 1.38. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.43 and a current ratio of 1.90. Itron has a 52-week low of $56.11 and a 52-week high of $107.11.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.39. The firm had revenue of $603.44 million for the quarter, compared to the consensus estimate of $579.49 million. Itron had a return on equity of 14.51% and a net margin of 7.03%. The business’s revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 earnings per share. As a group, sell-side analysts forecast that Itron will post 3.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jerome J. Lande sold 14,896 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 5,750 shares in the company, valued at $547,687.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Jerome J. Lande sold 14,896 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 5,750 shares in the company, valued at $547,687.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Deitrich sold 1,912 shares of the stock in a transaction on Tuesday, February 20th. The shares were 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 owns 169,073 shares of the company’s stock, valued at $12,743,032.01. The disclosure for this sale can be found here. Insiders sold 30,467 shares of company stock worth $2,752,520 over the last three months. Insiders own 1.45% of the company’s stock.

Institutional Trading of Itron

A number of institutional investors have recently bought and sold shares of ITRI. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Itron by 293.4% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,198 shares of the scientific and technical instruments company’s stock worth $388,000 after purchasing an additional 3,131 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Itron by 19.3% during the 1st quarter. Jennison Associates LLC now owns 5,625 shares of the scientific and technical instruments company’s stock worth $520,000 after purchasing an additional 909 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Itron during the 1st quarter worth about $346,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Itron by 10.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 110,697 shares of the scientific and technical instruments company’s stock worth $10,242,000 after purchasing an additional 10,716 shares in the last quarter. Finally, Braun Stacey Associates Inc. boosted its position in shares of Itron by 18.2% during the 1st quarter. Braun Stacey Associates Inc. now owns 255,497 shares of the scientific and technical instruments company’s stock worth $23,638,000 after purchasing an additional 39,309 shares in the last quarter. Institutional investors 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.