Itron (NASDAQ:ITRI) Given New $110.00 Price Target at Oppenheimer

Itron (NASDAQ:ITRI) had its price objective lifted by Oppenheimer from $100.00 to $110.00 in a research report report published on Friday, Benzinga reports. Oppenheimer currently has an outperform rating on the scientific and technical instruments company’s stock.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Itron from $77.00 to $92.00 and gave the company a neutral rating in a research report on Wednesday, March 13th. Robert W. Baird raised their price target on shares of Itron from $108.00 to $115.00 and gave the company an outperform rating in a report on Wednesday, March 13th. TD Cowen upped their price objective on shares of Itron from $110.00 to $115.00 and gave the stock a buy rating in a report on Friday. Canaccord Genuity Group upgraded Itron from a hold rating to a buy rating and raised their target price for the company from $68.00 to $105.00 in a report on Tuesday, February 27th. Finally, TheStreet upgraded Itron from a c rating to a b- rating in a research note on Monday, February 26th. Three 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 target price of $103.60.

Itron Stock Up 7.2 %

ITRI traded up $7.19 on Friday, reaching $107.01. 1,235,838 shares of the company traded hands, compared to its average volume of 473,020. The stock’s 50 day moving average price is $91.94 and its 200-day moving average price is $77.39. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.90 and a quick ratio of 1.43. Itron has a 52-week low of $56.11 and a 52-week high of $107.11. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 1.11 and a beta of 1.38.

Itron (NASDAQ:ITRI) last released its quarterly earnings data 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 return on equity of 14.51% and a net margin of 7.03%. The firm had revenue of $603.44 million during the quarter, compared to analysts’ expectations of $579.49 million. During the same quarter last year, the firm earned $0.49 earnings per share. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. On average, sell-side analysts expect that Itron will post 3.61 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Joan S. Hooper sold 1,560 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total transaction of $117,577.20. Following the completion of the transaction, the chief financial officer now directly owns 60,141 shares in the company, valued at approximately $4,532,827.17. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Thomas Deitrich sold 1,912 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total transaction of $144,107.44. Following the completion of the transaction, the chief executive officer now directly owns 169,073 shares of the company’s stock, valued at approximately $12,743,032.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joan S. Hooper sold 1,560 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total transaction of $117,577.20. Following the completion of the sale, the chief financial officer now directly owns 60,141 shares in the company, valued at approximately $4,532,827.17. The disclosure for this sale can be found here. Insiders have sold a total of 30,467 shares of company stock valued at $2,752,520 in the last three months. Company insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ITRI. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Itron by 293.4% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,198 shares of the scientific and technical instruments company’s stock worth $388,000 after buying an additional 3,131 shares in the last quarter. Jennison Associates LLC grew its position in Itron by 19.3% in the first quarter. Jennison Associates LLC now owns 5,625 shares of the scientific and technical instruments company’s stock valued at $520,000 after acquiring an additional 909 shares during the period. Janney Montgomery Scott LLC acquired a new position in Itron during the first quarter worth $346,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Itron by 10.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 110,697 shares of the scientific and technical instruments company’s stock valued at $10,242,000 after acquiring an additional 10,716 shares during the period. Finally, Braun Stacey Associates Inc. boosted its stake in shares of Itron by 18.2% in the 1st quarter. Braun Stacey Associates Inc. now owns 255,497 shares of the scientific and technical instruments company’s stock valued at $23,638,000 after purchasing an additional 39,309 shares in the last quarter. Institutional investors 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.