Oppenheimer Issues Positive Forecast for Itron (NASDAQ:ITRI) Stock Price

Itron (NASDAQ:ITRI) had its target price hoisted by Oppenheimer from $120.00 to $124.00 in a research note published on Friday morning, Benzinga reports. They currently have an outperform rating on the scientific and technical instruments company’s stock.

ITRI has been the subject of a number of other research reports. Robert W. Baird upped their price target on shares of Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday. BNP Paribas began coverage on shares of Itron in a research note on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Janney Montgomery Scott began coverage on shares of Itron in a research note on Friday, September 27th. They issued a “buy” rating and a $131.00 price objective for the company. Finally, Piper Sandler increased their price objective on shares of Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $123.50.

Itron Stock Performance

NASDAQ ITRI opened at $111.81 on Friday. The firm has a 50-day moving average price of $103.88 and a two-hundred day moving average price of $102.73. Itron has a 12-month low of $58.88 and a 12-month high of $116.39. The company has a quick ratio of 2.61, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $5.03 billion, a P/E 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 for the quarter, topping analysts’ consensus estimates of $1.13 by $0.71. Itron had a net margin of 9.37% and a return on equity of 19.03%. The company had revenue of $615.46 million during the quarter, compared to the consensus estimate of $596.41 million. During the same quarter in the prior year, the firm posted $0.98 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Analysts anticipate that Itron will post 4.58 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the transaction, the senior vice president now owns 16,269 shares of the company’s stock, valued at $1,643,169. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the transaction, the senior vice president now owns 16,269 shares of the company’s stock, valued at $1,643,169. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $51,994.35. Following the transaction, the chief financial officer now directly owns 72,338 shares of the company’s stock, 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 valued at $4,515,846 over the last quarter. Insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Itron

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd increased its stake in Itron by 26.1% in the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock valued at $57,000 after purchasing an additional 111 shares in the last quarter. Atria Investments Inc increased its stake in Itron by 20.1% in the third quarter. Atria Investments Inc now owns 8,660 shares of the scientific and technical instruments company’s stock valued at $925,000 after purchasing an additional 1,450 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. bought a new stake in Itron in the third quarter valued at $5,994,000. Principal Financial Group Inc. increased its stake in Itron by 4.5% in the third quarter. Principal Financial Group Inc. now owns 248,077 shares of the scientific and technical instruments company’s stock valued at $26,497,000 after purchasing an additional 10,677 shares in the last quarter. Finally, Hanseatic Management Services Inc. increased its stake in Itron by 4.4% in the third quarter. Hanseatic Management Services Inc. now owns 7,522 shares of the scientific and technical instruments company’s stock valued at $803,000 after purchasing an additional 318 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.