Itron (NASDAQ:ITRI) Stock Price Expected to Rise, Oppenheimer Analyst Says

Itron (NASDAQ:ITRI) had its price objective hoisted by stock analysts at Oppenheimer from $124.00 to $131.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the scientific and technical instruments company’s stock. Oppenheimer’s price target would suggest a potential upside of 21.34% from the company’s previous close.

A number of other research analysts also recently weighed in on ITRI. Robert W. Baird increased their target price on Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, November 1st. TD Cowen lifted their price objective on shares of Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Guggenheim boosted 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. StockNews.com upgraded shares of Itron from a “buy” rating to a “strong-buy” rating in a report on Friday, February 21st. Finally, Piper Sandler increased their target price 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. 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. According to data from MarketBeat, Itron currently has an average rating of “Moderate Buy” and a consensus price target of $124.50.

Itron Stock Performance

Shares of Itron stock traded up $6.15 during trading on Wednesday, hitting $107.96. 400,114 shares of the company’s stock traded hands, compared to its average volume of 592,009. The business has a 50-day simple moving average of $104.99 and a 200-day simple moving average of $106.84. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. The stock has a market capitalization of $4.87 billion, a P/E ratio of 22.09, a PEG ratio of 0.81 and a beta of 1.46. Itron has a 1 year low of $86.13 and a 1 year high of $124.90.

Insider Buying and Selling at Itron

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

Hedge Funds Weigh In On Itron

A number of hedge funds have recently modified their holdings of the stock. Louisiana State Employees Retirement System grew its holdings in Itron by 0.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 21,800 shares of the scientific and technical instruments company’s stock valued at $2,367,000 after buying an additional 100 shares during the last quarter. Quarry LP raised its holdings in shares of Itron by 29.0% in the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock valued at $48,000 after buying an additional 102 shares during the last quarter. Continuum Advisory LLC increased its position in Itron by 42.1% in the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock worth $40,000 after purchasing an additional 102 shares during the period. Stifel Financial Corp increased its stake in Itron by 2.2% in the third quarter. Stifel Financial Corp now owns 4,921 shares of the scientific and technical instruments company’s stock valued at $526,000 after purchasing an additional 108 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of Itron by 26.1% in the 3rd quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock valued at $57,000 after purchasing an additional 111 shares during the period. 96.19% of the stock is owned by institutional investors and hedge funds.

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.