Itron (NASDAQ:ITRI) Given New $119.00 Price Target at Piper Sandler

Itron (NASDAQ:ITRI) had its price objective lifted by Piper Sandler from $110.00 to $119.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the scientific and technical instruments company’s stock.

Several other equities research analysts also recently weighed in on ITRI. Robert W. Baird lifted their price target on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday. BNP Paribas started coverage on Itron in a research report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 target price for the company. Roth Mkm reiterated a “buy” rating and issued a $125.00 price target on shares of Itron in a report on Wednesday, August 21st. Oppenheimer boosted their price objective on Itron from $110.00 to $112.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. increased their target price on Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.50.

Itron Stock Up 0.0 %

Shares of NASDAQ:ITRI opened at $111.81 on Friday. Itron has a 1 year low of $58.88 and a 1 year high of $116.39. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.61. The business’s 50-day moving average is $103.88 and its 200-day moving average is $102.65. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 22.91, a P/E/G ratio of 0.94 and a beta of 1.46.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.71. The firm had revenue of $615.46 million for the quarter, compared to analyst estimates of $596.41 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 earnings per share. Equities research analysts predict that Itron will post 4.58 earnings per share for the current year.

Insider Activity

In related news, SVP Donald L. Reeves III sold 4,210 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the transaction, the senior vice president now directly owns 16,269 shares in the company, valued at approximately $1,643,169. The trade was a 0.00 % decrease in their ownership of the stock. 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 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Joan S. Hooper sold 509 shares of Itron stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total value of $51,994.35. Following the sale, the chief financial officer now owns 72,338 shares in the company, valued at $7,389,326.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,276 shares of company stock worth $4,515,846 over 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 made changes to their positions in the stock. Commonwealth Equity Services LLC bought a new stake in Itron in the first quarter worth about $1,076,000. Jupiter Asset Management Ltd. purchased a new stake in shares of Itron during the 1st quarter worth approximately $2,029,000. Sculptor Capital LP bought a new stake in shares of Itron in the 2nd quarter worth approximately $5,255,000. UniSuper Management Pty Ltd purchased a new position in Itron in the first quarter valued at approximately $904,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Itron by 113.0% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 30,988 shares of the scientific and technical instruments company’s stock valued at $2,867,000 after purchasing an additional 16,441 shares during the period. 96.19% of the stock is owned by hedge funds and other institutional investors.

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.