Piper Sandler Boosts Itron (NASDAQ:ITRI) Price Target to $110.00

Itron (NASDAQ:ITRI) had its price target raised by Piper Sandler from $109.00 to $110.00 in a research report released on Monday, Benzinga reports. They currently have a neutral rating on the scientific and technical instruments company’s stock.

ITRI has been the subject of a number of other reports. Guggenheim upgraded shares of Itron from a neutral rating to a buy rating and set a $130.00 price target for the company in a research report on Thursday, July 11th. Oppenheimer lifted their price target on shares of Itron from $110.00 to $112.00 and gave the company an outperform rating in a research report on Wednesday, July 17th. Canaccord Genuity Group lifted their price target on shares of Itron from $115.00 to $120.00 and gave the company a buy rating in a research report on Thursday, June 20th. Stephens lifted their price objective on Itron from $85.00 to $110.00 and gave the stock an equal weight rating in a research report on Monday, May 6th. Finally, TD Cowen lifted their price objective on Itron from $110.00 to $115.00 and gave the stock a buy rating in a research report on Friday, May 3rd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Itron has an average rating of Moderate Buy and an average price target of $112.09.

Itron Price Performance

Shares of ITRI opened at $102.03 on Monday. Itron has a twelve month low of $56.11 and a twelve month high of $111.00. The stock’s 50 day moving average is $104.25 and its two-hundred day moving average is $92.59. The firm has a market capitalization of $4.68 billion, a PE ratio of 29.32, a P/E/G ratio of 0.98 and a beta of 1.45. The company has a current ratio of 1.90, a quick ratio of 1.40 and a debt-to-equity ratio of 0.33.

Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.39. Itron had a net margin of 7.03% and a return on equity of 14.51%. The company had revenue of $603.44 million during the quarter, compared to the consensus estimate of $579.49 million. During the same period last year, the firm earned $0.49 EPS. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. Research analysts anticipate that Itron will post 4.1 earnings per share for the current year.

Insider Buying and Selling at Itron

In other Itron news, SVP Christopher E. Ware sold 311 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $106.84, for a total value of $33,227.24. Following the completion of the transaction, the senior vice president now directly owns 15,371 shares in the company, valued at approximately $1,642,237.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Thomas Deitrich sold 873 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $108.87, for a total transaction of $95,043.51. Following the completion of the sale, the chief executive officer now directly owns 206,163 shares of the company’s stock, valued at approximately $22,444,965.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Christopher E. Ware sold 311 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $106.84, for a total transaction of $33,227.24. Following the sale, the senior vice president now directly owns 15,371 shares of the company’s stock, valued at $1,642,237.64. The disclosure for this sale can be found here. In the last three months, insiders sold 1,775 shares of company stock worth $192,613. Insiders own 1.45% of the company’s stock.

Institutional Trading of Itron

Several institutional investors have recently made changes to their positions in ITRI. Silvercrest Asset Management Group LLC purchased a new stake in shares of Itron during the 1st quarter valued at $401,000. Norges Bank purchased a new stake in shares of Itron during the 4th quarter valued at $24,504,000. Mesirow Institutional Investment Management Inc. purchased a new stake in Itron during the 4th quarter worth $11,654,000. Vanguard Group Inc. boosted its position in Itron by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,668,071 shares of the scientific and technical instruments company’s stock worth $343,372,000 after purchasing an additional 142,564 shares during the period. Finally, Braun Stacey Associates Inc. boosted its position in Itron by 140.6% during the 4th quarter. Braun Stacey Associates Inc. now owns 216,188 shares of the scientific and technical instruments company’s stock worth $16,324,000 after purchasing an additional 126,328 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.