Itron (NASDAQ:ITRI) Given New $123.00 Price Target at Robert W. Baird

Itron (NASDAQ:ITRI) had its price target raised by Robert W. Baird from $115.00 to $123.00 in a report published on Friday, Benzinga reports. They currently have an outperform rating on the scientific and technical instruments company’s stock.

Several other research firms also recently weighed in on ITRI. Oppenheimer lifted their price target on shares of Itron from $110.00 to $112.00 and gave the company an outperform rating in a research note on Wednesday, July 17th. Piper Sandler boosted their target price on shares of Itron from $109.00 to $110.00 and gave the stock a neutral rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. boosted their target price on shares of Itron from $104.00 to $112.00 and gave the stock a neutral rating in a research report on Tuesday, July 16th. Canaccord Genuity Group upped their price objective on shares of Itron from $115.00 to $120.00 and gave the stock a buy rating in a research report on Thursday, June 20th. Finally, Roth Mkm increased their price objective on shares of Itron from $112.00 to $122.00 and gave the company a buy rating in a research note on Tuesday, July 16th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Itron presently has an average rating of Moderate Buy and a consensus price target of $114.00.

Itron Trading Down 6.4 %

Shares of NASDAQ:ITRI traded down $6.94 during mid-day trading on Friday, reaching $101.15. 1,014,918 shares of the company’s stock were exchanged, compared to its average volume of 730,743. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 0.91 and a beta of 1.45. The business’s fifty day moving average price is $103.39 and its 200-day moving average price is $94.04. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.40 and a current ratio of 3.16. Itron has a twelve month low of $56.11 and a twelve month high of $113.07.

Itron (NASDAQ:ITRI) last released its earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.25. The business had revenue of $609.07 million for the quarter, compared to analyst estimates of $599.25 million. Itron had a net margin of 7.98% and a return on equity of 16.42%. Itron’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 earnings per share. On average, research analysts predict that Itron will post 4.55 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Christopher E. Ware sold 311 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were 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 directly owns 15,371 shares of the company’s stock, valued at approximately $1,642,237.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Itron news, SVP Christopher E. Ware sold 311 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were 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 directly owns 15,371 shares of the company’s stock, valued at approximately $1,642,237.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Deitrich sold 873 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $108.87, for a total transaction of $95,043.51. Following the completion of the transaction, the chief executive officer now directly owns 206,163 shares of the company’s stock, valued at $22,444,965.81. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,775 shares of company stock valued at $192,613. Company insiders own 1.45% of the company’s stock.

Institutional Trading of Itron

Several institutional investors and hedge funds have recently made changes to their positions in ITRI. Silvercrest Asset Management Group LLC purchased a new position in Itron in the 1st quarter worth $401,000. Norges Bank purchased a new position in Itron in the 4th quarter worth $24,504,000. Mesirow Institutional Investment Management Inc. purchased a new position in Itron in the 4th quarter worth $11,654,000. Vontobel Holding Ltd. raised its position in Itron by 16.0% in the 4th 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 period. Finally, Kingdon Capital Management L.L.C. purchased a new position in Itron in the 1st quarter worth $7,170,000. 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.