Itron (NASDAQ:ITRI) Price Target Raised to $115.00

Itron (NASDAQ:ITRI) had its price objective raised by TD Cowen from $110.00 to $115.00 in a research note released on Friday, MarketBeat Ratings reports. TD Cowen currently has a buy rating on the scientific and technical instruments company’s stock.

Several other equities research analysts have also issued reports on ITRI. Robert W. Baird upped their price objective on Itron from $108.00 to $115.00 and gave the stock an outperform rating in a report on Wednesday, March 13th. Canaccord Genuity Group upgraded shares of Itron from a hold rating to a buy rating and increased their price target for the company from $68.00 to $105.00 in a research report on Tuesday, February 27th. Raymond James cut shares of Itron from an outperform rating to a market perform rating in a research note on Thursday, January 4th. Canaccord Genuity Group upgraded shares of Itron from a hold rating to a buy rating and upped their price target for the company from $68.00 to $105.00 in a research report on Tuesday, February 27th. Finally, Roth Mkm reiterated a buy rating and issued a $102.00 price objective on shares of Itron in a report on Tuesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $104.18.

Itron Stock Performance

Shares of NASDAQ:ITRI traded up $0.36 during mid-day trading on Friday, reaching $107.37. The company had a trading volume of 708,241 shares, compared to its average volume of 438,584. Itron has a one year low of $56.11 and a one year high of $108.60. The company has a current ratio of 1.90, a quick ratio of 1.40 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average price is $91.94 and its 200-day moving average price is $77.64. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 1.16 and a beta of 1.38.

Itron (NASDAQ:ITRI) last posted its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.39. Itron had a net margin of 7.03% and a return on equity of 14.51%. The business had revenue of $603.44 million for the quarter, compared to analyst estimates of $579.49 million. During the same quarter in the prior year, the firm posted $0.49 EPS. Itron’s revenue was up 22.0% on a year-over-year basis. As a group, equities research analysts anticipate that Itron will post 3.68 EPS for the current fiscal year.

Insider Activity

In related news, SVP Donald L. Reeves III sold 383 shares of Itron stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Donald L. Reeves III sold 536 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $87.10, for a total transaction of $46,685.60. Following the completion of the transaction, the senior vice president now owns 17,425 shares in the company, valued at approximately $1,517,717.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Donald L. Reeves III sold 383 shares of the stock in a transaction on Tuesday, February 20th. The stock was 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 in the company, valued at approximately $656,321.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,467 shares of company stock worth $2,752,520. 1.45% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Itron by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,668,071 shares of the scientific and technical instruments company’s stock worth $343,372,000 after acquiring an additional 142,564 shares in the last quarter. Raymond James & Associates increased its holdings in Itron by 51.6% during the 4th quarter. Raymond James & Associates now owns 47,621 shares of the scientific and technical instruments company’s stock worth $3,596,000 after purchasing an additional 16,208 shares during the period. Trexquant Investment LP raised its position in Itron by 48.8% during the 3rd quarter. Trexquant Investment LP now owns 57,431 shares of the scientific and technical instruments company’s stock valued at $3,479,000 after purchasing an additional 18,842 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Itron in the 4th quarter worth $210,000. Finally, Hsbc Holdings PLC grew its position in shares of Itron by 495.8% during the 3rd quarter. Hsbc Holdings PLC now owns 21,086 shares of the scientific and technical instruments company’s stock worth $1,280,000 after buying an additional 17,547 shares in the last quarter. 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.