Itron (NASDAQ:ITRI) Price Target Raised to $110.00

Itron (NASDAQ:ITRI) had its price objective upped by investment analysts at Stephens from $85.00 to $110.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the scientific and technical instruments company’s stock. Stephens’ price objective indicates a potential upside of 1.62% from the stock’s previous close.

Several other research analysts also recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Itron from $77.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. Canaccord Genuity Group upgraded shares of Itron from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $105.00 in a report on Tuesday, February 27th. Canaccord Genuity Group increased their price objective on shares of Itron from $105.00 to $115.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Roth Mkm boosted their target price on Itron from $102.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, TD Cowen boosted their target price on Itron from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Itron currently has an average rating of “Moderate Buy” and a consensus target price of $104.18.

Itron Trading Up 0.8 %

Shares of NASDAQ:ITRI opened at $108.25 on Monday. The stock has a 50 day moving average of $92.61 and a 200 day moving average of $78.34. The company has a market cap of $4.97 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 1.16 and a beta of 1.38. Itron has a 12-month low of $56.11 and a 12-month high of $109.72. The company has a current ratio of 1.90, a quick ratio of 1.40 and a debt-to-equity ratio of 0.33.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.39. The firm had revenue of $603.44 million during the quarter, compared to analysts’ expectations of $579.49 million. Itron had a net margin of 7.03% and a return on equity of 14.51%. The company’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 earnings per share. As a group, equities research analysts expect that Itron will post 3.68 EPS for the current year.

Insiders Place Their Bets

In other Itron news, 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 of the company’s stock, valued at $656,321.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Thomas Deitrich sold 1,912 shares of the company’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 $144,107.44. Following the transaction, the chief executive officer now owns 169,073 shares of the company’s stock, valued at $12,743,032.01. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Donald L. Reeves III sold 383 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 8,708 shares in the company, valued at approximately $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 over the last ninety days. 1.45% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake 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 buying an additional 142,564 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Itron by 3.2% in the fourth 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 purchasing an additional 51,874 shares during the period. Vontobel Holding Ltd. boosted its holdings in shares of Itron by 16.0% in the fourth quarter. Vontobel Holding Ltd. now owns 804,648 shares of the scientific and technical instruments company’s stock valued at $60,759,000 after purchasing an additional 110,849 shares during the period. Guinness Asset Management LTD boosted its holdings in shares of Itron by 1.9% in the third 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 purchasing an additional 11,983 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Itron by 3.0% in the fourth 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 purchasing an additional 15,157 shares during the period. Institutional investors own 96.19% of the company’s stock.

Itron Company Profile

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.