Itron (NASDAQ:ITRI) Earns Buy Rating from Guggenheim

Itron (NASDAQ:ITRI)‘s stock had its “buy” rating reaffirmed by equities research analysts at Guggenheim in a note issued to investors on Monday, Marketbeat Ratings reports. They presently have a $155.00 target price on the scientific and technical instruments company’s stock, up from their previous target price of $133.00. Guggenheim’s price objective would suggest a potential upside of 14.28% from the stock’s previous close.

ITRI has been the topic of a number of other research reports. Piper Sandler lowered their target price on shares of Itron from $124.00 to $121.00 and set a “neutral” rating on the stock in a research note on Monday, May 5th. TD Cowen increased their price objective on shares of Itron from $139.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, June 20th. Finally, Wall Street Zen downgraded shares of Itron from a “buy” rating to a “hold” rating in a research note on Sunday, June 1st. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $130.18.

Itron Stock Up 0.2%

NASDAQ ITRI opened at $135.63 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.93 and a quick ratio of 1.65. The stock has a market capitalization of $6.18 billion, a PE ratio of 24.75, a PEG ratio of 0.86 and a beta of 1.35. Itron has a 1 year low of $90.11 and a 1 year high of $136.46. The business’s 50-day moving average is $122.81 and its 200 day moving average is $110.75.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Thursday, May 1st. The scientific and technical instruments company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.30 by $0.22. Itron had a net margin of 10.34% and a return on equity of 19.65%. The business had revenue of $607.15 million during the quarter, compared to analyst estimates of $608.86 million. During the same period last year, the business posted $1.24 earnings per share. Itron’s quarterly revenue was up .6% compared to the same quarter last year. Sell-side analysts forecast that Itron will post 5.33 earnings per share for the current year.

Insider Transactions at Itron

In other Itron news, Director Mary C. Hemmingsen sold 5,150 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $108.70, for a total transaction of $559,805.00. Following the completion of the transaction, the director owned 952 shares in the company, valued at $103,482.40. The trade was a 84.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Joan S. Hooper sold 938 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total transaction of $107,823.10. Following the sale, the chief financial officer owned 89,364 shares of the company’s stock, valued at $10,272,391.80. This represents a 1.04% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,905 shares of company stock valued at $2,439,202. 1.51% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Itron

A number of large investors have recently added to or reduced their stakes in ITRI. Janney Montgomery Scott LLC boosted its position in shares of Itron by 0.7% in the first quarter. Janney Montgomery Scott LLC now owns 16,795 shares of the scientific and technical instruments company’s stock worth $1,759,000 after acquiring an additional 121 shares during the last quarter. CoreCap Advisors LLC boosted its position in shares of Itron by 25.5% in the fourth quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company’s stock worth $67,000 after acquiring an additional 125 shares during the last quarter. Evergreen Capital Management LLC boosted its position in shares of Itron by 3.7% in the first quarter. Evergreen Capital Management LLC now owns 3,586 shares of the scientific and technical instruments company’s stock worth $376,000 after acquiring an additional 127 shares during the last quarter. Captrust Financial Advisors boosted its position in shares of Itron by 6.3% in the fourth quarter. Captrust Financial Advisors now owns 2,144 shares of the scientific and technical instruments company’s stock worth $233,000 after acquiring an additional 128 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its position in shares of Itron by 3.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,726 shares of the scientific and technical instruments company’s stock worth $513,000 after acquiring an additional 140 shares during the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

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.