Itron (NASDAQ:ITRI) Stock Price Expected to Rise, TD Cowen Analyst Says

Itron (NASDAQ:ITRI) had its price objective upped by TD Cowen from $139.00 to $145.00 in a research report report published on Friday morning, MarketBeat reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

Other analysts have also recently issued research reports about the stock. Oppenheimer boosted their target price on shares of Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Canaccord Genuity Group upped their price objective on shares of Itron from $130.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and set a $133.00 price objective on shares of Itron in a research note on Thursday, April 17th. Wall Street Zen cut shares of Itron from a “buy” rating to a “hold” rating in a research note on Sunday, June 1st. Finally, Piper Sandler dropped their price objective on shares of Itron from $124.00 to $121.00 and set a “neutral” rating for the company in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $128.18.

Itron Stock Up 1.7%

ITRI stock opened at $127.80 on Friday. The stock has a market capitalization of $5.83 billion, a P/E ratio of 23.32, a P/E/G ratio of 0.81 and a beta of 1.33. The firm has a 50-day simple moving average of $113.47 and a 200-day simple moving average of $108.10. The company has a quick ratio of 1.65, a current ratio of 1.93 and a debt-to-equity ratio of 0.52. Itron has a 52 week low of $90.11 and a 52 week high of $129.83.

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

Insider Activity

In other news, Director Mary C. Hemmingsen sold 5,150 shares of the company’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 value of $559,805.00. Following the transaction, the director now directly owns 952 shares in the company, valued at approximately $103,482.40. This represents a 84.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Christopher E. Ware sold 339 shares of the company’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 $38,968.05. Following the completion of the transaction, the senior vice president now owns 19,468 shares in the company, valued at approximately $2,237,846.60. This represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,905 shares of company stock valued at $2,439,202 in the last 90 days. Company insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Itron

Large investors have recently made changes to their positions in the stock. GeoWealth Management LLC lifted its holdings in shares of Itron by 4,580.0% in the 4th quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company’s stock worth $25,000 after acquiring an additional 229 shares during the last quarter. Wayfinding Financial LLC acquired a new position in shares of Itron in the 1st quarter worth approximately $45,000. CoreCap Advisors LLC lifted its holdings in shares of Itron by 25.5% in the 4th 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. Smartleaf Asset Management LLC lifted its holdings in shares of Itron by 347.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company’s stock worth $97,000 after acquiring an additional 688 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of Itron by 155.6% in the 1st quarter. Quarry LP now owns 910 shares of the scientific and technical instruments company’s stock worth $95,000 after acquiring an additional 554 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

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.