Robert W. Baird Issues Positive Forecast for Itron (NASDAQ:ITRI) Stock Price

Itron (NASDAQ:ITRI) had its target price hoisted by analysts at Robert W. Baird from $123.00 to $132.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the scientific and technical instruments company’s stock. Robert W. Baird’s price target suggests a potential upside of 18.11% from the company’s current price.

Several other analysts have also recently commented on ITRI. Oppenheimer increased their target price on Itron from $110.00 to $112.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Janney Montgomery Scott assumed coverage on Itron in a research note on Friday, September 27th. They issued a “buy” rating and a $131.00 target price for the company. TD Cowen upped their price target on Itron from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. BNP Paribas assumed coverage on Itron in a research report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price objective for the company. Finally, Guggenheim upgraded shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 target price on the stock in a research report on Thursday, July 11th. 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $120.42.

Itron Stock Up 7.6 %

NASDAQ ITRI opened at $111.76 on Friday. Itron has a 1-year low of $56.11 and a 1-year high of $116.39. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 0.87 and a beta of 1.47. The stock’s 50 day moving average is $103.45 and its two-hundred day moving average is $102.35. The company has a current ratio of 3.16, a quick ratio of 2.61 and a debt-to-equity ratio of 0.98.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.71. Itron had a return on equity of 16.42% and a net margin of 7.98%. The company had revenue of $615.46 million during the quarter, compared to analysts’ expectations of $596.41 million. During the same period last year, the business earned $0.98 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. Equities analysts forecast that Itron will post 4.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the sale, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. This represents a 0.00 % decrease in their position. The transaction 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 4,210 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total value of $425,210.00. Following the completion of the transaction, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joan S. Hooper sold 509 shares of Itron stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $51,994.35. Following the completion of the sale, the chief financial officer now directly owns 72,338 shares in the company, valued at $7,389,326.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,276 shares of company stock worth $4,515,846 over the last ninety days. 1.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Itron

Several hedge funds have recently made changes to their positions in ITRI. Quarry LP increased its position in shares of Itron by 53.0% in the second quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock valued at $35,000 after acquiring an additional 122 shares during the last quarter. Hexagon Capital Partners LLC increased its position in shares of Itron by 85.6% during the 2nd quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock worth $27,000 after purchasing an additional 125 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Itron by 21.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock worth $77,000 after purchasing an additional 129 shares in the last quarter. Xponance Inc. boosted its holdings in shares of Itron by 5.1% in the 2nd quarter. Xponance Inc. now owns 2,910 shares of the scientific and technical instruments company’s stock valued at $288,000 after buying an additional 142 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of Itron by 1.7% in the third quarter. Janney Montgomery Scott LLC now owns 11,425 shares of the scientific and technical instruments company’s stock valued at $1,220,000 after buying an additional 190 shares in the last quarter. 96.19% of the stock is owned by institutional investors.

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.