Itron (NASDAQ:ITRI) Earns Buy Rating from Analysts at Janney Montgomery Scott

Janney Montgomery Scott assumed coverage on shares of Itron (NASDAQ:ITRI) in a research report released on Friday morning, MarketBeat reports. The brokerage issued a buy rating and a $131.00 target price on the scientific and technical instruments company’s stock.

Several other equities analysts also recently commented on ITRI. TD Cowen increased their price target on Itron from $115.00 to $125.00 and gave the company a buy rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on Itron from $104.00 to $112.00 and gave the company a neutral rating in a research report on Tuesday, July 16th. StockNews.com downgraded Itron from a strong-buy rating to a buy rating in a research note on Friday, June 28th. Piper Sandler lifted their price target on Itron from $109.00 to $110.00 and gave the stock a neutral rating in a research report on Monday, July 22nd. Finally, Roth Mkm reiterated a buy rating and set a $125.00 price target on shares of Itron in a report on Wednesday, August 21st. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $119.67.

Itron Stock Up 4.1 %

ITRI opened at $107.28 on Friday. The company has a market capitalization of $4.92 billion, a PE ratio of 30.83, a price-to-earnings-growth ratio of 0.90 and a beta of 1.47. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.16 and a quick ratio of 2.61. Itron has a fifty-two week low of $56.11 and a fifty-two week high of $113.07. The business has a 50-day moving average of $101.00 and a 200-day moving average of $99.96.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.25. Itron had a net margin of 7.98% and a return on equity of 16.42%. The firm had revenue of $609.07 million for the quarter, compared to analyst estimates of $599.25 million. During the same quarter last year, the firm earned $0.65 earnings per share. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. Equities research analysts forecast that Itron will post 4.59 EPS for the current fiscal year.

Insider Activity

In other news, CEO Thomas Deitrich sold 887 shares of Itron stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $90,607.05. Following the sale, the chief executive officer now directly owns 205,276 shares in the company, valued at approximately $20,968,943.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Itron news, CEO Thomas Deitrich sold 887 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total value of $90,607.05. Following the sale, the chief executive officer now directly owns 205,276 shares in the company, valued at $20,968,943.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joan S. Hooper sold 509 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total value of $51,994.35. Following the transaction, the chief financial officer now owns 72,338 shares of the company’s stock, valued at $7,389,326.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,776 shares of company stock worth $584,721. 1.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Itron

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ITRI. Hexagon Capital Partners LLC raised its stake in shares of Itron by 85.6% in the second quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock valued at $27,000 after acquiring an additional 125 shares during the last quarter. Contravisory Investment Management Inc. increased its holdings in Itron by 61.5% during the 1st quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock valued at $32,000 after purchasing an additional 131 shares in the last quarter. Quarry LP raised its position in Itron by 53.0% in the 2nd quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock valued at $35,000 after purchasing an additional 122 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Itron by 32.7% during the first quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock worth $45,000 after purchasing an additional 121 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of Itron in the fourth quarter valued at $76,000. 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.