Itron (NASDAQ:ITRI) Price Target Cut to $133.00 by Analysts at Guggenheim

Itron (NASDAQ:ITRI) had its price objective cut by stock analysts at Guggenheim from $135.00 to $133.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the scientific and technical instruments company’s stock. Guggenheim’s price target indicates a potential upside of 23.83% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on ITRI. Roth Mkm upped their price target on shares of Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Oppenheimer increased their target price on shares of Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a report on Wednesday. StockNews.com upgraded shares of Itron from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 21st. Robert W. Baird upped their price target on Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group lifted their price objective on Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Itron currently has a consensus rating of “Moderate Buy” and an average price target of $125.75.

Itron Price Performance

ITRI stock traded down $0.32 on Thursday, reaching $107.41. 152,663 shares of the company’s stock were exchanged, compared to its average volume of 606,061. The stock has a fifty day moving average of $104.98 and a 200-day moving average of $106.85. The firm has a market cap of $4.84 billion, a PE ratio of 22.01, a P/E/G ratio of 0.81 and a beta of 1.46. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. Itron has a twelve month low of $86.13 and a twelve month high of $124.90.

Insider Activity

In other Itron news, CAO David Marshall Wright sold 317 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $29,449.30. Following the transaction, the chief accounting officer now directly owns 8,108 shares in the company, valued at approximately $753,233.20. This represents a 3.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Christopher E. Ware sold 648 shares of Itron stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $60,199.20. Following the sale, the senior vice president now owns 20,326 shares of the company’s stock, valued at approximately $1,888,285.40. This trade represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,287 shares of company stock worth $305,362 over the last three months. 1.45% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Itron

Several hedge funds have recently made changes to their positions in the business. GeoWealth Management LLC increased its stake in Itron by 4,580.0% in the fourth quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 229 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Itron in the 4th quarter valued at about $30,000. Continuum Advisory LLC increased its stake in shares of Itron by 42.1% during the 3rd quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock valued at $40,000 after acquiring an additional 102 shares during the last quarter. Quarry LP lifted its holdings in shares of Itron by 29.0% during the 3rd quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock worth $48,000 after acquiring an additional 102 shares during the period. Finally, Covestor Ltd boosted its position in shares of Itron by 26.1% in the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock worth $57,000 after acquiring an additional 111 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.