Roth Mkm Raises Itron (NASDAQ:ITRI) Price Target to $125.00

Itron (NASDAQ:ITRI) had its price target upped by Roth Mkm from $122.00 to $125.00 in a report published on Friday, Benzinga reports. The brokerage currently has a buy rating on the scientific and technical instruments company’s stock.

ITRI has been the topic of a number of other research reports. Stephens upped their target price on Itron from $85.00 to $110.00 and gave the company an equal weight rating in a research note on Monday, May 6th. Piper Sandler increased their price target on shares of Itron from $109.00 to $110.00 and gave the company a neutral rating in a research report on Monday, July 22nd. Canaccord Genuity Group lifted their target price on shares of Itron from $115.00 to $120.00 and gave the stock a buy rating in a research note on Thursday, June 20th. JPMorgan Chase & Co. upped their price target on shares of Itron from $104.00 to $112.00 and gave the company a neutral rating in a research note on Tuesday, July 16th. Finally, Robert W. Baird lifted their price objective on shares of Itron from $115.00 to $123.00 and gave the stock an outperform rating in a research note on Friday. Four equities research 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 $114.00.

Itron Price Performance

Shares of Itron stock traded down $2.71 during trading hours on Friday, reaching $98.44. The company’s stock had a trading volume of 430,759 shares, compared to its average volume of 518,910. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.16 and a quick ratio of 1.40. Itron has a one year low of $56.11 and a one year high of $113.07. The firm has a 50 day moving average price of $103.39 and a 200-day moving average price of $94.38. The stock has a market cap of $4.52 billion, a P/E ratio of 28.07, a P/E/G ratio of 0.91 and a beta of 1.45.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.25. Itron had a return on equity of 16.42% and a net margin of 7.98%. The company had revenue of $609.07 million during the quarter, compared to the consensus estimate of $599.25 million. During the same period last year, the company earned $0.65 earnings per share. Itron’s revenue was up 12.6% on a year-over-year basis. On average, analysts predict that Itron will post 4.55 EPS for the current year.

Insiders Place Their Bets

In related 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 value of $95,043.51. Following the completion of the transaction, the chief executive officer now directly owns 206,163 shares in the company, valued at approximately $22,444,965.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Thomas Deitrich sold 873 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $108.87, for a total transaction of $95,043.51. Following the completion of the transaction, 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 SEC, which is available at this link. Also, SVP Christopher E. Ware sold 311 shares of Itron stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $106.84, for a total transaction of $33,227.24. Following the completion of the sale, the senior vice president now owns 15,371 shares in the company, valued at approximately $1,642,237.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,775 shares of company stock worth $192,613. Corporate insiders own 1.45% of the company’s stock.

Institutional Trading of Itron

Several large investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Itron by 32.7% in the first quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock valued at $45,000 after buying an additional 121 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Itron by 85.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock worth $27,000 after acquiring an additional 125 shares during the last quarter. Contravisory Investment Management Inc. boosted its position in shares of Itron by 61.5% during the 1st quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock valued at $32,000 after acquiring an additional 131 shares during the last quarter. Natixis Advisors L.P. grew its holdings in shares of Itron by 0.4% in the fourth quarter. Natixis Advisors L.P. now owns 31,458 shares of the scientific and technical instruments company’s stock valued at $2,375,000 after purchasing an additional 139 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its position in Itron by 2.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 13,296 shares of the scientific and technical instruments company’s stock worth $1,230,000 after purchasing an additional 290 shares during the last quarter. 96.19% of the stock is currently 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.