Roth Mkm Increases Itron (NASDAQ:ITRI) Price Target to $112.00

Itron (NASDAQ:ITRI) had its price objective hoisted by stock analysts at Roth Mkm from $102.00 to $112.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the scientific and technical instruments company’s stock. Roth Mkm’s target price indicates a potential upside of 4.66% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Oppenheimer upped their price target on Itron from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday. Raymond James downgraded shares of Itron from an “outperform” rating to a “market perform” rating in a report on Thursday, January 4th. JPMorgan Chase & Co. lifted their target price on shares of Itron from $77.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. Piper Sandler restated an “overweight” rating and set a $109.00 price target (up from $103.00) on shares of Itron in a research note on Friday. Finally, TheStreet raised shares of Itron from a “c” rating to a “b-” rating in a report on Monday, February 26th. Three investment 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $103.60.

Itron Stock Performance

Shares of NASDAQ ITRI traded up $7.19 during midday trading on Friday, reaching $107.01. The company’s stock had a trading volume of 1,235,838 shares, compared to its average volume of 473,020. The stock has a market capitalization of $4.91 billion, a P/E ratio of 30.75, a PEG ratio of 1.19 and a beta of 1.38. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.90 and a quick ratio of 1.43. The firm has a 50 day moving average price of $91.94 and a 200-day moving average price of $77.51. Itron has a 12-month low of $56.11 and a 12-month high of $107.11.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.39. Itron had a return on equity of 14.51% and a net margin of 7.03%. The business had revenue of $603.44 million for the quarter, compared to analysts’ expectations of $579.49 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The business’s revenue was up 22.0% on a year-over-year basis. As a group, equities analysts predict that Itron will post 3.68 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Donald L. Reeves III sold 383 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total transaction of $28,866.71. Following the completion of the transaction, the senior vice president now directly owns 8,708 shares in the company, valued at $656,321.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, SVP Donald L. Reeves III sold 383 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $28,866.71. Following the sale, the senior vice president now directly owns 8,708 shares of the company’s stock, valued at $656,321.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Deitrich sold 1,912 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total transaction of $144,107.44. Following the completion of the transaction, the chief executive officer now directly owns 169,073 shares of the company’s stock, valued at approximately $12,743,032.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,467 shares of company stock worth $2,752,520. Corporate insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Itron

A number of large investors have recently added to or reduced their stakes in ITRI. Vanguard Group Inc. increased its position in shares of Itron by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,668,071 shares of the scientific and technical instruments company’s stock valued at $343,372,000 after purchasing an additional 142,564 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Itron by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,681,573 shares of the scientific and technical instruments company’s stock worth $126,978,000 after acquiring an additional 51,874 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Itron by 16.0% in the fourth quarter. Vontobel Holding Ltd. now owns 804,648 shares of the scientific and technical instruments company’s stock worth $60,759,000 after purchasing an additional 110,849 shares during the last quarter. Guinness Asset Management LTD grew its holdings in shares of Itron by 1.9% in the third quarter. Guinness Asset Management LTD now owns 635,881 shares of the scientific and technical instruments company’s stock worth $38,504,000 after purchasing an additional 11,983 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Itron by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 518,157 shares of the scientific and technical instruments company’s stock valued at $39,126,000 after buying an additional 15,157 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

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.