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

Itron (NASDAQ:ITRI) had its price target raised by Guggenheim from $128.00 to $135.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

Other analysts have also recently issued reports about the company. Stephens reiterated an “equal weight” rating and set a $110.00 price target on shares of Itron in a research report on Monday, August 5th. JPMorgan Chase & Co. upped their target price on Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. BNP Paribas started coverage on Itron in a report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 target price for the company. Piper Sandler upped their target price on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Janney Montgomery Scott started coverage on Itron in a research note on Friday, September 27th. They issued a “buy” rating and a $131.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Itron presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.92.

Itron Price Performance

Shares of Itron stock traded up $0.67 on Wednesday, reaching $122.79. The company’s stock had a trading volume of 58,385 shares, compared to its average volume of 523,655. The company has a market capitalization of $5.54 billion, a P/E ratio of 25.02, a PEG ratio of 0.86 and a beta of 1.46. Itron has a 52-week low of $62.45 and a 52-week high of $123.68. The stock has a 50-day moving average price of $104.90 and a 200-day moving average price of $103.24. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.71. The business had revenue of $615.46 million during the quarter, compared to analysts’ expectations of $596.41 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 earnings per share. Analysts expect that Itron will post 5.34 EPS for the current year.

Insider Buying and Selling

In related news, CEO Thomas Deitrich sold 37,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the transaction, the chief executive officer now owns 205,276 shares of the company’s stock, valued at approximately $21,519,083.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Itron news, CEO Thomas Deitrich sold 37,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total value of $3,931,125.00. Following the sale, the chief executive officer now owns 205,276 shares of the company’s stock, valued at $21,519,083.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total value of $425,210.00. Following the completion of the sale, the senior vice president now directly owns 16,269 shares in the company, valued at $1,643,169. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,276 shares of company stock valued at $4,515,846. Corporate insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Saturna Capital Corp increased its holdings in shares of Itron by 6.1% in the 3rd quarter. Saturna Capital Corp now owns 7,213 shares of the scientific and technical instruments company’s stock valued at $770,000 after acquiring an additional 413 shares during the last quarter. Victory Capital Management Inc. grew its stake in Itron by 41.6% during the 3rd quarter. Victory Capital Management Inc. now owns 283,728 shares of the scientific and technical instruments company’s stock worth $30,305,000 after buying an additional 83,328 shares during the last quarter. Entropy Technologies LP purchased a new position in Itron during the 3rd quarter worth approximately $502,000. Chartwell Investment Partners LLC purchased a new position in Itron during the 3rd quarter worth approximately $1,891,000. Finally, Peregrine Asset Advisers Inc. grew its stake in Itron by 1.8% during the 3rd quarter. Peregrine Asset Advisers Inc. now owns 21,664 shares of the scientific and technical instruments company’s stock worth $2,314,000 after buying an additional 393 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

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.