Itron (NASDAQ:ITRI) Rating Lowered to Neutral at Piper Sandler

Itron (NASDAQ:ITRI) was downgraded by stock analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research note issued to investors on Tuesday, Marketbeat.com reports. They presently have a $109.00 price objective on the scientific and technical instruments company’s stock. Piper Sandler’s price target points to a potential upside of 1.12% from the company’s previous close.

ITRI has been the topic of several other research reports. Canaccord Genuity Group upgraded shares of Itron from a “hold” rating to a “buy” rating and lifted their target price for the stock from $68.00 to $105.00 in a report on Tuesday, February 27th. TheStreet raised Itron from a “c” rating to a “b-” rating in a research report on Monday, February 26th. TD Cowen increased their price objective on Itron from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Roth Mkm raised their price objective on shares of Itron from $102.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, Oppenheimer increased their price target on shares of Itron from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $104.18.

Itron Trading Up 0.7 %

NASDAQ ITRI opened at $107.79 on Tuesday. The company has a market capitalization of $4.94 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 1.08 and a beta of 1.38. Itron has a 1-year low of $56.11 and a 1-year high of $109.97. The company has a current ratio of 1.90, a quick ratio of 1.40 and a debt-to-equity ratio of 0.33. The firm’s fifty day simple moving average is $95.88 and its 200-day simple moving average is $82.01.

Itron (NASDAQ:ITRI) last released its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.39. The firm had revenue of $603.44 million for the quarter, compared to the consensus estimate of $579.49 million. Itron had a return on equity of 14.51% and a net margin of 7.03%. The firm’s revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 earnings per share. As a group, sell-side analysts anticipate that Itron will post 3.9 earnings per share for the current fiscal year.

Insider Transactions at Itron

In other Itron news, SVP Christopher E. Ware sold 311 shares of Itron 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 completion of the sale, the senior vice president now owns 15,371 shares of the company’s stock, valued at approximately $1,642,237.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Donald L. Reeves III sold 536 shares of Itron stock in a transaction on Monday, February 26th. The shares were sold at an average price of $87.10, for a total transaction of $46,685.60. Following the transaction, the senior vice president now directly owns 17,425 shares of the company’s stock, valued at $1,517,717.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Christopher E. Ware sold 311 shares of Itron stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $106.84, for a total value of $33,227.24. Following the transaction, the senior vice president now owns 15,371 shares in the company, valued at $1,642,237.64. The disclosure for this sale can be found here. Insiders sold a total of 26,923 shares of company stock worth $2,495,196 in the last quarter. 1.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On Itron

A number of hedge funds and other institutional investors have recently bought and sold shares of ITRI. Vanguard Group Inc. raised its stake in Itron by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,701,337 shares of the scientific and technical instruments company’s stock valued at $527,488,000 after buying an additional 45,909 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Itron by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,681,573 shares of the scientific and technical instruments company’s stock valued at $126,978,000 after purchasing an additional 51,874 shares during the last quarter. Vontobel Holding Ltd. boosted its position in Itron by 16.0% during the fourth quarter. Vontobel Holding Ltd. now owns 804,648 shares of the scientific and technical instruments company’s stock worth $60,759,000 after purchasing an additional 110,849 shares during the period. Guinness Asset Management LTD boosted its position in Itron by 1.9% during the third quarter. Guinness Asset Management LTD now owns 635,881 shares of the scientific and technical instruments company’s stock worth $38,504,000 after purchasing an additional 11,983 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of Itron by 2.2% in the first quarter. Janus Henderson Group PLC now owns 542,943 shares of the scientific and technical instruments company’s stock valued at $50,233,000 after purchasing an additional 11,918 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.