Oppenheimer Raises Itron (NASDAQ:ITRI) Price Target to $110.00

Itron (NASDAQ:ITRI) had its price objective increased by Oppenheimer from $100.00 to $110.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the scientific and technical instruments company’s stock.

Several other research firms have also issued reports on ITRI. Raymond James lowered Itron from an outperform rating to a market perform rating in a research note on Thursday, January 4th. JPMorgan Chase & Co. increased their price objective on Itron from $77.00 to $92.00 and gave the company a neutral rating in a report on Wednesday, March 13th. Robert W. Baird increased their price objective on Itron from $108.00 to $115.00 and gave the company an outperform rating in a report on Wednesday, March 13th. Roth Mkm reiterated a buy rating and issued a $102.00 price objective on shares of Itron in a report on Tuesday, April 23rd. Finally, Canaccord Genuity Group upgraded Itron from a hold rating to a buy rating and increased their price objective for the company from $68.00 to $105.00 in a report on Tuesday, February 27th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $104.18.

Itron Stock Performance

Shares of Itron stock opened at $107.37 on Friday. Itron has a 52 week low of $56.11 and a 52 week high of $108.60. The business’s fifty day simple moving average is $92.26 and its 200-day simple moving average is $77.98. The firm has a market cap of $4.93 billion, a PE ratio of 30.85, a price-to-earnings-growth ratio of 1.16 and a beta of 1.38. The company has a quick ratio of 1.40, a current ratio of 1.90 and a debt-to-equity ratio of 0.33.

Itron (NASDAQ:ITRI) last announced its quarterly 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 return on equity of 14.51% and a net margin of 7.03%. The business had revenue of $603.44 million for the quarter, compared to analyst estimates of $579.49 million. During the same quarter in the prior year, the company posted $0.49 EPS. The company’s quarterly revenue was up 22.0% on a year-over-year basis. Equities analysts forecast that Itron will post 3.68 earnings per share for the current year.

Insider Activity at Itron

In related news, SVP Donald L. Reeves III sold 383 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was 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 directly owns 8,708 shares of the company’s stock, valued at approximately $656,321.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Thomas Deitrich sold 1,912 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total transaction of $144,107.44. Following the completion of the transaction, the chief executive officer now directly owns 169,073 shares of the company’s stock, valued at $12,743,032.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Donald L. Reeves III sold 383 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total transaction of $28,866.71. Following the completion of the sale, the senior vice president now owns 8,708 shares of the company’s stock, valued at approximately $656,321.96. The disclosure for this sale can be found here. Insiders sold a total of 30,467 shares of company stock valued at $2,752,520 in the last three months. 1.45% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC acquired a new position in shares of Itron during the 4th quarter worth $27,000. Contravisory Investment Management Inc. boosted its holdings in Itron by 61.5% during the first quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock worth $32,000 after buying an additional 131 shares in the last quarter. Covestor Ltd increased its holdings in Itron by 9,150.0% in the third quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 549 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Itron during the 4th quarter valued at approximately $50,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of Itron during the 4th quarter valued at approximately $76,000. 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.