Itron, Inc. (NASDAQ:ITRI) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Itron, Inc. (NASDAQ:ITRI) have earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $127.64.

A number of research analysts have weighed in on ITRI shares. StockNews.com lowered shares of Itron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 1st. Oppenheimer boosted their price objective on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Canaccord Genuity Group raised their target price on Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Guggenheim reduced their price target on Itron from $135.00 to $133.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Piper Sandler lifted their price target on shares of Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th.

Insider Buying and Selling at Itron

In related news, CAO David Marshall Wright sold 317 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $29,449.30. Following the completion of the sale, the chief accounting officer now directly owns 8,108 shares of the company’s stock, valued at $753,233.20. The trade was a 3.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary C. Hemmingsen sold 750 shares of Itron stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $107.27, for a total value of $80,452.50. Following the sale, the director now owns 5,630 shares in the company, valued at $603,930.10. This trade represents a 11.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,037 shares of company stock valued at $385,815. Insiders own 1.51% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in shares of Itron by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock valued at $114,835,000 after purchasing an additional 5,630 shares during the period. First Trust Advisors LP raised its position in Itron by 9.1% during the 4th quarter. First Trust Advisors LP now owns 802,584 shares of the scientific and technical instruments company’s stock worth $87,145,000 after buying an additional 66,637 shares during the last quarter. Norges Bank purchased a new stake in shares of Itron in the fourth quarter valued at about $64,615,000. Northern Trust Corp raised its holdings in Itron by 11.4% during the fourth quarter. Northern Trust Corp now owns 572,266 shares of the scientific and technical instruments company’s stock worth $62,137,000 after purchasing an additional 58,546 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in Itron by 21.5% during the fourth quarter. Nuveen Asset Management LLC now owns 560,478 shares of the scientific and technical instruments company’s stock worth $60,857,000 after purchasing an additional 99,142 shares in the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

Itron Stock Performance

NASDAQ:ITRI opened at $94.79 on Friday. The company has a market cap of $4.32 billion, a P/E ratio of 19.42, a P/E/G ratio of 0.81 and a beta of 1.39. Itron has a twelve month low of $88.87 and a twelve month high of $124.90. The company’s 50-day moving average price is $103.81 and its 200-day moving average price is $107.96. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91.

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.