Itron (NASDAQ:ITRI) Given New $115.00 Price Target at Canaccord Genuity Group

Itron (NASDAQ:ITRI) had its price objective lifted by Canaccord Genuity Group from $105.00 to $115.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the scientific and technical instruments company’s stock.

A number of other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Itron from $77.00 to $92.00 and gave the company a neutral rating in a report on Wednesday, March 13th. TD Cowen boosted their price target on Itron from $110.00 to $115.00 and gave the stock a buy rating in a research report on Friday. Raymond James lowered Itron from an outperform rating to a market perform rating in a report on Thursday, January 4th. Robert W. Baird upped their price objective on shares of Itron from $108.00 to $115.00 and gave the stock an outperform rating in a report on Wednesday, March 13th. Finally, Roth Mkm raised their target price on shares of Itron from $102.00 to $112.00 and gave the company a buy rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $103.60.

Itron Stock Performance

ITRI stock traded up $7.19 during midday trading on Friday, reaching $107.01. The company had a trading volume of 1,235,838 shares, compared to its average volume of 473,020. The firm has a market capitalization of $4.91 billion, a PE ratio of 30.75, a P/E/G ratio of 1.11 and a beta of 1.38. Itron has a fifty-two week low of $56.11 and a fifty-two week high of $107.11. The company has a quick ratio of 1.43, a current ratio of 1.90 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average price of $91.94 and a 200 day moving average price of $77.39.

Itron (NASDAQ:ITRI) last issued its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.39. The firm had revenue of $603.44 million for the quarter, compared to analyst estimates of $579.49 million. Itron had a return on equity of 14.51% and a net margin of 7.03%. The firm’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period last year, the company earned $0.49 earnings per share. Analysts anticipate that Itron will post 3.61 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jerome J. Lande sold 14,896 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the completion of the sale, the director now directly owns 5,750 shares of the company’s stock, valued at approximately $547,687.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Joan S. Hooper sold 1,560 shares of the company’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 $117,577.20. Following the completion of the sale, the chief financial officer now owns 60,141 shares in the company, valued at approximately $4,532,827.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jerome J. Lande sold 14,896 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the completion of the transaction, the director now directly owns 5,750 shares of the company’s stock, valued at approximately $547,687.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,467 shares of company stock worth $2,752,520. 1.45% of the stock is owned by insiders.

Institutional Trading of Itron

Hedge funds have recently modified their holdings of the business. Contravisory Investment Management Inc. boosted its holdings in shares of 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 purchasing an additional 131 shares during the period. GAMMA Investing LLC purchased a new position in shares of Itron during the 4th quarter valued at $27,000. Covestor Ltd increased its stake in shares of Itron by 9,150.0% in the third quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 549 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Itron during the fourth quarter worth $50,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Itron during the fourth quarter valued at $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.