Canaccord Genuity Group Boosts Itron (NASDAQ:ITRI) Price Target to $132.00

Itron (NASDAQ:ITRI) had its price objective upped by Canaccord Genuity Group from $130.00 to $132.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the scientific and technical instruments company’s stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 23.49% from the stock’s current price.

ITRI has been the subject of several other research reports. Guggenheim upped their price objective on shares of Itron from $128.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Piper Sandler upped their price target on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. StockNews.com raised Itron from a “buy” rating to a “strong-buy” rating in a report on Friday, February 21st. TD Cowen boosted their price objective on Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Oppenheimer upped their target price on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $127.64.

Itron Trading Down 0.8 %

Shares of ITRI opened at $106.89 on Wednesday. Itron has a 52-week low of $86.13 and a 52-week high of $124.90. The stock has a market cap of $4.82 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 0.81 and a beta of 1.46. The firm’s fifty day moving average is $104.98 and its two-hundred day moving average is $106.85. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

Insider Transactions at Itron

In other Itron news, SVP Christopher E. Ware sold 648 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $60,199.20. Following the transaction, the senior vice president now owns 20,326 shares of the company’s stock, valued at $1,888,285.40. This represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Joan S. Hooper sold 2,322 shares of Itron stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $215,713.80. Following the sale, the chief financial officer now owns 92,076 shares of the company’s stock, valued at approximately $8,553,860.40. This represents a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,287 shares of company stock worth $305,362. 1.45% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Creative Planning raised its holdings in shares of Itron by 17.1% in the 3rd quarter. Creative Planning now owns 15,677 shares of the scientific and technical instruments company’s stock valued at $1,674,000 after buying an additional 2,284 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in Itron by 27.4% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 3,412 shares of the scientific and technical instruments company’s stock valued at $364,000 after acquiring an additional 734 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Itron during the third quarter worth about $223,000. Adams Natural Resources Fund Inc. acquired a new stake in shares of Itron during the third quarter worth about $3,023,000. Finally, Pinnacle Associates Ltd. lifted its position in shares of Itron by 9.3% during the third quarter. Pinnacle Associates Ltd. now owns 398,372 shares of the scientific and technical instruments company’s stock worth $42,550,000 after purchasing an additional 34,014 shares in the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

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.