Roth Mkm Boosts Itron (NASDAQ:ITRI) Price Target to $122.00

Itron (NASDAQ:ITRI) had its target price increased by Roth Mkm from $112.00 to $122.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

Other equities research analysts also recently issued research reports about the company. TD Cowen boosted their price objective on Itron from $110.00 to $115.00 and gave the company a buy rating in a report on Friday, May 3rd. Guggenheim upgraded shares of Itron from a neutral rating to a buy rating and set a $130.00 price objective on the stock in a report on Thursday, July 11th. Canaccord Genuity Group raised their price objective on shares of Itron from $115.00 to $120.00 and gave the company a buy rating in a research note on Thursday, June 20th. Oppenheimer boosted their target price on shares of Itron from $100.00 to $110.00 and gave the stock an outperform rating in a research report on Friday, May 3rd. Finally, Piper Sandler cut shares of Itron from an overweight rating to a neutral rating and set a $109.00 price target on the stock. in a research report on Tuesday, May 21st. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Itron has a consensus rating of Moderate Buy and a consensus target price of $112.00.

Itron Stock Down 0.8 %

Itron stock opened at $101.65 on Tuesday. The company has a market capitalization of $4.66 billion, a PE ratio of 29.21, a PEG ratio of 0.97 and a beta of 1.45. Itron has a 12-month low of $56.11 and a 12-month high of $111.00. The firm’s fifty day moving average is $104.29 and its 200 day moving average is $91.85. The company has a quick ratio of 1.40, a current ratio of 1.90 and a debt-to-equity ratio of 0.33.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.39. The firm had revenue of $603.44 million for the quarter, compared to analyst estimates of $579.49 million. Itron had a net margin of 7.03% and a return on equity of 14.51%. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 earnings per share. As a group, sell-side analysts predict that Itron will post 4.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Itron news, SVP Christopher E. Ware sold 311 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $106.84, for a total value of $33,227.24. Following the completion of the transaction, the senior vice president now owns 15,371 shares in the company, valued at approximately $1,642,237.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Itron news, CEO Thomas Deitrich sold 873 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $108.87, for a total value of $95,043.51. Following the transaction, the chief executive officer now directly owns 206,163 shares in the company, valued at $22,444,965.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Christopher E. Ware sold 311 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $106.84, for a total transaction of $33,227.24. Following the transaction, the senior vice president now directly owns 15,371 shares of the company’s stock, valued at $1,642,237.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,775 shares of company stock worth $192,613. 1.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On Itron

Institutional investors have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Itron during the 2nd quarter valued at $265,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Itron in the 2nd quarter valued at about $235,000. Assenagon Asset Management S.A. lifted its holdings in Itron by 7.8% during the second quarter. Assenagon Asset Management S.A. now owns 268,379 shares of the scientific and technical instruments company’s stock valued at $26,559,000 after purchasing an additional 19,387 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new position in Itron during the second quarter worth about $252,000. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Itron by 73.6% in the second quarter. Sequoia Financial Advisors LLC now owns 23,042 shares of the scientific and technical instruments company’s stock worth $2,280,000 after purchasing an additional 9,772 shares in the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

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.