Itron (NASDAQ:ITRI) Price Target Increased to $115.00 by Analysts at Canaccord Genuity Group

Itron (NASDAQ:ITRI) had its target price increased by Canaccord Genuity Group from $105.00 to $115.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the scientific and technical instruments company’s stock.

Several other equities research analysts also recently issued reports on ITRI. TD Cowen increased their price objective on shares of Itron from $110.00 to $115.00 and gave the stock a buy rating in a research report on Friday. Roth Mkm increased their price objective on shares of Itron from $102.00 to $112.00 and gave the stock a buy rating in a research report on Friday. Oppenheimer increased their price objective on shares of Itron from $100.00 to $110.00 and gave the stock an outperform rating in a research report on Friday. Canaccord Genuity Group raised shares of Itron from a hold rating to a buy rating and increased their price objective for the stock from $68.00 to $105.00 in a research report on Tuesday, February 27th. Finally, TheStreet raised shares of Itron from a c rating to a b- rating in a research report on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $104.18.

Itron Stock Up 0.3 %

Shares of NASDAQ:ITRI opened at $107.37 on Friday. Itron has a 52 week low of $56.11 and a 52 week high of $108.60. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.40 and a current ratio of 1.90. The company has a market capitalization of $4.93 billion, a PE ratio of 30.85, a PEG ratio of 1.16 and a beta of 1.38. The company has a 50 day moving average price of $92.26 and a two-hundred day moving average price of $77.98.

Itron (NASDAQ:ITRI) last issued its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 EPS for the quarter, beating the consensus estimate of $0.85 by $0.39. Itron had a net margin of 7.03% and a return on equity of 14.51%. The firm had revenue of $603.44 million during the quarter, compared to the consensus estimate of $579.49 million. During the same quarter in the prior year, the firm earned $0.49 earnings per share. The business’s quarterly revenue was up 22.0% on a year-over-year basis. Analysts forecast that Itron will post 3.68 earnings per share for the current year.

Insider Buying and Selling at Itron

In other Itron news, SVP Donald L. Reeves III sold 383 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 $28,866.71. Following the completion of the sale, the senior vice president now owns 8,708 shares in the company, valued at $656,321.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Itron news, SVP Donald L. Reeves III sold 383 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 $28,866.71. Following the completion of the sale, the senior vice president now owns 8,708 shares in the company, valued at $656,321.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jerome J. Lande sold 14,896 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold a total of 30,467 shares of company stock worth $2,752,520 over the last quarter. 1.45% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Itron

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in 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 worth $343,372,000 after acquiring an additional 142,564 shares during the period. Dimensional Fund Advisors LP increased its holdings in Itron by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,681,573 shares of the scientific and technical instruments company’s stock valued at $126,978,000 after buying an additional 51,874 shares during the period. Vontobel Holding Ltd. increased its holdings in Itron by 16.0% in the 4th quarter. Vontobel Holding Ltd. now owns 804,648 shares of the scientific and technical instruments company’s stock valued at $60,759,000 after buying an additional 110,849 shares during the period. Guinness Asset Management LTD increased its holdings in Itron by 1.9% in the 3rd quarter. Guinness Asset Management LTD now owns 635,881 shares of the scientific and technical instruments company’s stock valued at $38,504,000 after buying an additional 11,983 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Itron by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 518,157 shares of the scientific and technical instruments company’s stock valued at $39,126,000 after buying an additional 15,157 shares during the period. 96.19% of the stock is owned by 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.