Itron (NASDAQ:ITRI) Given New $133.00 Price Target at Guggenheim

Itron (NASDAQ:ITRI) had its price objective reduced by Guggenheim from $135.00 to $133.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

Several other brokerages also recently commented on ITRI. StockNews.com raised shares of Itron from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 21st. Robert W. Baird lifted their target price on Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Piper Sandler increased their price target on Itron from $119.00 to $124.00 and gave the stock a “neutral” rating in a report on Thursday. Oppenheimer raised their price target on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, TD Cowen boosted their price objective on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $127.64.

Itron Price Performance

Itron stock opened at $106.89 on Thursday. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $4.82 billion, a P/E ratio of 21.90, a PEG ratio of 0.81 and a beta of 1.46. The business has a 50-day moving average of $104.98 and a 200-day moving average of $106.85. Itron has a 1 year low of $86.13 and a 1 year high of $124.90.

Insider Buying and Selling at Itron

In related news, CFO Joan S. Hooper sold 2,322 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $215,713.80. Following the completion of the transaction, the chief financial officer now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Christopher E. Ware sold 648 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $60,199.20. Following the transaction, the senior vice president now directly owns 20,326 shares in the company, valued at $1,888,285.40. This trade represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,287 shares of company stock worth $305,362. Insiders own 1.45% of the company’s stock.

Institutional Trading of Itron

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System raised its stake in Itron by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 21,800 shares of the scientific and technical instruments company’s stock valued at $2,367,000 after buying an additional 100 shares during the period. Quarry LP raised its stake in Itron by 29.0% in the 3rd quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock worth $48,000 after purchasing an additional 102 shares in the last quarter. Continuum Advisory LLC boosted its holdings in Itron by 42.1% in the 3rd quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock valued at $40,000 after purchasing an additional 102 shares during the period. Stifel Financial Corp grew its position in shares of Itron by 2.2% during the 3rd quarter. Stifel Financial Corp now owns 4,921 shares of the scientific and technical instruments company’s stock worth $526,000 after purchasing an additional 108 shares in the last quarter. Finally, Covestor Ltd boosted its stake in shares of 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 buying an additional 111 shares during the period. 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.