Itron (NASDAQ:ITRI) PT Raised to $112.00

Itron (NASDAQ:ITRI) had its target price hoisted by Roth Mkm from $102.00 to $112.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

A number of other research firms have also commented on ITRI. TheStreet raised shares of Itron from a c rating to a b- rating in a research note on Monday, February 26th. Canaccord Genuity Group upgraded Itron from a hold rating to a buy rating and increased their price target for the stock from $68.00 to $105.00 in a report on Tuesday, February 27th. Robert W. Baird lifted their price objective on shares of Itron from $108.00 to $115.00 and gave the company an outperform rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. increased their target price on shares of Itron from $77.00 to $92.00 and gave the stock a neutral rating in a research note on Wednesday, March 13th. Finally, Raymond James downgraded shares of Itron from an outperform rating to a market perform rating in a research note on Thursday, January 4th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Itron currently has a consensus rating of Moderate Buy and a consensus target price of $104.18.

Itron Trading Up 0.3 %

Shares of ITRI stock traded up $0.36 during trading hours on Friday, hitting $107.37. 700,072 shares of the company’s stock traded hands, compared to its average volume of 438,584. The stock has a market cap of $4.93 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 1.16 and a beta of 1.38. The stock’s 50 day simple moving average is $91.94 and its 200 day simple moving average is $77.64. The company has a quick ratio of 1.40, a current ratio of 1.90 and a debt-to-equity ratio of 0.33. Itron has a 12 month low of $56.11 and a 12 month high of $108.60.

Itron (NASDAQ:ITRI) last announced its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.39. The business had revenue of $603.44 million during 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%. Itron’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period last year, the company earned $0.49 EPS. On average, sell-side analysts anticipate that Itron will post 3.68 EPS for the current year.

Insider Buying and Selling

In other news, Director Jerome J. Lande sold 14,896 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $95.25, for a total value 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 $547,687.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Itron news, Director Jerome J. Lande sold 14,896 shares of Itron stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas Deitrich sold 3,362 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $87.10, for a total transaction of $292,830.20. Following the completion of the sale, the chief executive officer now owns 205,162 shares of the company’s stock, valued at approximately $17,869,610.20. The disclosure for this sale can be found here. Insiders have sold 30,467 shares of company stock worth $2,752,520 in the last quarter. Insiders own 1.45% of the company’s stock.

Hedge Funds Weigh In On Itron

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Itron by 2.6% during the third 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 during the period. Raymond James & Associates grew its stake in Itron by 51.6% in the 4th quarter. Raymond James & Associates now owns 47,621 shares of the scientific and technical instruments company’s stock valued at $3,596,000 after purchasing an additional 16,208 shares during the period. Trexquant Investment LP increased its position in shares of 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 during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Itron during the 4th quarter worth $210,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of Itron by 495.8% in 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 during the last quarter. Hedge funds and other 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.