Itron (NASDAQ:ITRI) Price Target Lowered to $121.00 at Piper Sandler

Itron (NASDAQ:ITRI) had its price objective reduced by Piper Sandler from $124.00 to $121.00 in a research note released on Monday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the scientific and technical instruments company’s stock.

A number of other brokerages have also recently issued reports on ITRI. Canaccord Genuity Group lifted their target price on shares of Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. StockNews.com lowered Itron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 1st. Oppenheimer raised their price target on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Finally, Guggenheim restated a “buy” rating and issued a $133.00 price objective on shares of Itron in a research report on Thursday, April 17th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Itron currently has a consensus rating of “Moderate Buy” and an average price target of $127.36.

Itron Trading Down 0.6 %

NASDAQ:ITRI opened at $107.55 on Monday. The stock has a fifty day moving average price of $104.37 and a 200 day moving average price of $107.50. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. Itron has a 12-month low of $90.11 and a 12-month high of $124.90. The firm has a market cap of $4.90 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 0.81 and a beta of 1.31.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.22. Itron had a net margin of 9.37% and a return on equity of 19.03%. The firm had revenue of $607.15 million during the quarter, compared to analysts’ expectations of $608.86 million. During the same period in the previous year, the company earned $1.24 earnings per share. Itron’s quarterly revenue was up .6% compared to the same quarter last year. Sell-side analysts anticipate that Itron will post 5.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Itron

In other Itron news, CFO Joan S. Hooper sold 2,322 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 transaction of $215,713.80. Following the sale, the chief financial officer now directly owns 92,076 shares of the company’s stock, valued at approximately $8,553,860.40. This represents a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Christopher E. Ware sold 648 shares of Itron stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $60,199.20. Following the completion of the transaction, the senior vice president now directly owns 20,326 shares of the company’s stock, valued at $1,888,285.40. This represents a 3.09 % decrease in their ownership of the stock. 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 currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. grew its position in shares of Itron by 611.9% in the 3rd quarter. Franklin Resources Inc. now owns 282,828 shares of the scientific and technical instruments company’s stock valued at $31,128,000 after purchasing an additional 243,102 shares during the period. Principal Financial Group Inc. lifted its stake in Itron by 4.5% in the third quarter. Principal Financial Group Inc. now owns 248,077 shares of the scientific and technical instruments company’s stock valued at $26,497,000 after buying an additional 10,677 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Itron by 15.6% in the fourth quarter. GAMMA Investing LLC now owns 1,177 shares of the scientific and technical instruments company’s stock valued at $128,000 after buying an additional 159 shares during the period. Oliver Luxxe Assets LLC increased its position in shares of Itron by 4.2% during the fourth quarter. Oliver Luxxe Assets LLC now owns 23,422 shares of the scientific and technical instruments company’s stock worth $2,543,000 after acquiring an additional 934 shares in the last quarter. Finally, Green Alpha Advisors LLC raised its holdings in shares of Itron by 7.2% during the fourth quarter. Green Alpha Advisors LLC now owns 5,878 shares of the scientific and technical instruments company’s stock worth $638,000 after acquiring an additional 395 shares during the period. Institutional investors 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.