Itron (NASDAQ:ITRI) Given New $132.00 Price Target at Canaccord Genuity Group

Itron (NASDAQ:ITRI) had its price objective hoisted by Canaccord Genuity Group from $130.00 to $132.00 in a report issued on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the scientific and technical instruments company’s stock.

A number of other research firms have also recently weighed in on ITRI. Robert W. Baird raised their price target on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Guggenheim increased their price objective on shares of Itron from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Piper Sandler increased their price objective on shares of Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Oppenheimer increased their price objective on shares of Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, TD Cowen increased their price objective on shares of Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $125.50.

Itron Stock Up 5.8 %

NASDAQ:ITRI opened at $107.72 on Wednesday. Itron has a fifty-two week low of $86.13 and a fifty-two week high of $124.90. The stock has a market capitalization of $4.86 billion, a P/E ratio of 22.07, a P/E/G ratio of 0.81 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. The company’s 50-day simple moving average is $104.98 and its 200-day simple moving average is $106.85.

Insiders Place Their Bets

In other news, SVP Christopher E. Ware sold 648 shares of Itron stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $60,199.20. Following the completion of the transaction, the senior vice president now directly owns 20,326 shares of the company’s stock, valued at $1,888,285.40. The trade was a 3.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Joan S. Hooper sold 2,322 shares of Itron stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $215,713.80. Following the transaction, the chief financial officer now directly owns 92,076 shares of the company’s stock, valued at approximately $8,553,860.40. This trade represents a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,287 shares of company stock valued at $305,362. 1.45% of the stock is owned by insiders.

Hedge Funds Weigh In On Itron

Several institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in Itron by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock valued at $114,835,000 after acquiring an additional 5,630 shares during the period. First Trust Advisors LP grew its stake in Itron by 9.1% in the 4th quarter. First Trust Advisors LP now owns 802,584 shares of the scientific and technical instruments company’s stock valued at $87,145,000 after acquiring an additional 66,637 shares during the period. Norges Bank acquired a new stake in Itron in the 4th quarter valued at $64,615,000. Northern Trust Corp grew its stake in Itron by 11.4% in the 4th quarter. Northern Trust Corp now owns 572,266 shares of the scientific and technical instruments company’s stock valued at $62,137,000 after acquiring an additional 58,546 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in Itron by 21.5% in the 4th quarter. Nuveen Asset Management LLC now owns 560,478 shares of the scientific and technical instruments company’s stock valued at $60,857,000 after acquiring an additional 99,142 shares during the period. 96.19% of the stock is owned by hedge funds and other institutional investors.

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.