Guggenheim Reiterates “Buy” Rating for Itron (NASDAQ:ITRI)

Itron (NASDAQ:ITRI)‘s stock had its “buy” rating restated by research analysts at Guggenheim in a research note issued on Thursday,Benzinga reports. They presently have a $133.00 target price on the scientific and technical instruments company’s stock. Guggenheim’s target price would indicate a potential upside of 28.80% from the company’s previous close.

Several other research analysts have also recently commented on the stock. Piper Sandler raised their target price on shares of Itron from $119.00 to $124.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. StockNews.com lowered Itron from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 1st. Oppenheimer boosted their target price on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Finally, Canaccord Genuity Group raised their price target on Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Itron currently has an average rating of “Moderate Buy” and a consensus target price of $127.64.

Itron Price Performance

Shares of ITRI opened at $103.26 on Thursday. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. The stock’s fifty day moving average is $102.16 and its 200-day moving average is $107.41. Itron has a one year low of $88.92 and a one year high of $124.90.

Insider Activity

In related news, CAO David Marshall Wright sold 317 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $29,449.30. Following the sale, the chief accounting officer now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Christopher E. Ware sold 648 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $60,199.20. Following the transaction, the senior vice president now owns 20,326 shares of the company’s stock, valued at $1,888,285.40. This trade represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,037 shares of company stock valued at $385,815. 1.45% of the stock is owned by insiders.

Institutional Trading of Itron

Several large investors have recently added to or reduced their stakes in the company. First Trust Advisors LP grew 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 acquiring an additional 66,637 shares during the last quarter. Norges Bank acquired a new stake in shares of Itron in the fourth quarter valued at $64,615,000. Northern Trust Corp raised its holdings in shares of Itron by 11.4% in the fourth quarter. Northern Trust Corp now owns 572,266 shares of the scientific and technical instruments company’s stock valued at $62,137,000 after buying an additional 58,546 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in Itron by 21.5% during the 4th quarter. Nuveen Asset Management LLC now owns 560,478 shares of the scientific and technical instruments company’s stock worth $60,857,000 after acquiring an additional 99,142 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Itron by 2.4% in the 4th quarter. Janus Henderson Group PLC now owns 536,288 shares of the scientific and technical instruments company’s stock valued at $58,233,000 after acquiring an additional 12,810 shares in the last quarter. 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.