Itron (NASDAQ:ITRI) Given New $124.00 Price Target at Piper Sandler

Itron (NASDAQ:ITRI) had its price target boosted by Piper Sandler from $119.00 to $124.00 in a research note released on Thursday,Benzinga reports. Piper Sandler currently has a neutral rating on the scientific and technical instruments company’s stock.

Other analysts have also recently issued reports about the company. StockNews.com raised Itron from a “buy” rating to a “strong-buy” rating in a report on Friday, February 21st. TD Cowen increased their target price on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Canaccord Genuity Group boosted their price objective on shares of Itron from $130.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday. Oppenheimer increased their price objective on shares of Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Robert W. Baird increased their price target on Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $127.64.

Itron Price Performance

Shares of ITRI opened at $106.89 on Thursday. The firm has a fifty day moving average price of $104.98 and a 200 day moving average price of $106.85. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. Itron has a 1-year low of $86.13 and a 1-year high of $124.90. The stock has a market cap of $4.82 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 0.81 and a beta of 1.46.

Insider Activity at Itron

In other news, SVP Christopher E. Ware sold 648 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 20,326 shares in the company, valued at $1,888,285.40. This represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Joan S. Hooper sold 2,322 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 92,076 shares in the company, valued at $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. Insiders sold 3,287 shares of company stock worth $305,362 in the last ninety days. 1.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On Itron

Several large investors have recently added to or reduced their stakes in ITRI. Norges Bank purchased a new stake in shares of Itron in the 4th quarter valued at about $64,615,000. Erste Asset Management GmbH bought a new stake in Itron in the third quarter valued at approximately $38,534,000. Bowen Hanes & Co. Inc. purchased a new stake in Itron during the 4th quarter valued at $27,486,000. Raiffeisen Bank International AG bought a new stake in shares of Itron in the fourth quarter worth about $27,619,000. Finally, Franklin Resources Inc. raised its holdings in shares of 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 acquiring an additional 243,102 shares in the last quarter. Hedge funds and other institutional investors 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.