Itron (NASDAQ:ITRI) Lowered to Buy Rating by StockNews.com

StockNews.com cut shares of Itron (NASDAQ:ITRI) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday morning.

Other equities analysts have also recently issued reports about the company. Piper Sandler lifted their target price on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Oppenheimer lifted their target price on Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Roth Mkm lifted their target price on Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Guggenheim lifted their target price on Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Robert W. Baird raised their target price on Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Itron currently has an average rating of “Moderate Buy” and a consensus price target of $123.92.

Itron Stock Performance

Shares of NASDAQ ITRI opened at $98.67 on Thursday. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 0.88 and a beta of 1.46. The stock’s fifty day simple moving average is $107.94 and its 200 day simple moving average is $107.01. Itron has a 52-week low of $73.14 and a 52-week high of $124.90.

Institutional Trading of Itron

A number of institutional investors have recently bought and sold shares of ITRI. Norges Bank acquired a new stake in Itron during the fourth quarter valued at $64,615,000. Erste Asset Management GmbH acquired a new stake in Itron during the third quarter valued at $38,534,000. Bowen Hanes & Co. Inc. acquired a new stake in Itron during the fourth quarter valued at $27,486,000. Assenagon Asset Management S.A. boosted its position in Itron by 90.7% during the third quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company’s stock valued at $54,658,000 after purchasing an additional 243,355 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Itron by 611.9% during the third quarter. Franklin Resources Inc. now owns 282,828 shares of the scientific and technical instruments company’s stock valued at $31,128,000 after purchasing an additional 243,102 shares during the last quarter. Institutional investors and hedge funds 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.