Itron (NASDAQ:ITRI) Given “Buy” Rating at Roth Mkm

Itron (NASDAQ:ITRI)‘s stock had its “buy” rating restated by analysts at Roth Mkm in a note issued to investors on Tuesday, Benzinga reports. They presently have a $102.00 price objective on the scientific and technical instruments company’s stock. Roth Mkm’s price objective would indicate a potential upside of 8.78% from the company’s current price.

A number of other analysts have also recently commented on ITRI. JPMorgan Chase & Co. upped their target price on shares of Itron from $77.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, March 13th. TD Cowen upped their price target on shares of Itron from $107.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. Piper Sandler dropped their price target on shares of Itron from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday, April 11th. TheStreet upgraded shares of Itron from a “c” rating to a “b-” rating in a research report on Monday, February 26th. Finally, Canaccord Genuity Group upgraded shares of Itron from a “hold” rating to a “buy” rating and upped their price target for the stock from $68.00 to $105.00 in a research report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $97.60.

Itron Stock Performance

Shares of ITRI traded up $2.31 during mid-day trading on Tuesday, hitting $93.77. 117,236 shares of the company traded hands, compared to its average volume of 401,589. Itron has a 1 year low of $50.60 and a 1 year high of $96.73. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 45.08, a P/E/G ratio of 0.99 and a beta of 1.41. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.43 and a current ratio of 1.95. The stock has a 50-day moving average price of $88.21 and a two-hundred day moving average price of $75.27.

Itron (NASDAQ:ITRI) last announced its earnings results on Monday, February 26th. The scientific and technical instruments company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.48. Itron had a net margin of 4.46% and a return on equity of 12.27%. The business had revenue of $577.17 million during the quarter, compared to analysts’ expectations of $569.90 million. During the same period in the prior year, the company earned $0.71 earnings per share. The firm’s revenue was up 23.5% on a year-over-year basis. Equities analysts anticipate that Itron will post 3.61 earnings per share for the current year.

Insider Transactions at Itron

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 completion of the transaction, the senior vice president now owns 8,708 shares in the company, valued at $656,321.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Donald L. Reeves III sold 536 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $87.10, for a total value of $46,685.60. Following the completion of the sale, the senior vice president now owns 17,425 shares in the company, valued at $1,517,717.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Donald L. Reeves III sold 383 shares of the business’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 completion of the sale, the senior vice president now owns 8,708 shares of the company’s stock, valued at approximately $656,321.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,467 shares of company stock valued at $2,752,520. 1.45% of the stock is currently owned by insiders.

Institutional Trading of Itron

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new stake in Itron during the fourth quarter worth $27,000. Contravisory Investment Management Inc. lifted its holdings in Itron by 61.5% during the first quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock worth $32,000 after buying an additional 131 shares during the period. Covestor Ltd lifted its holdings in Itron by 9,150.0% during the third quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 549 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Itron during the fourth quarter worth $50,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Itron during the fourth quarter worth $76,000. Hedge funds and other 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.