Itron (NASDAQ:ITRI) Receives Overweight Rating from Piper Sandler

Piper Sandler reissued their overweight rating on shares of Itron (NASDAQ:ITRI) in a report published on Friday, Benzinga reports. The brokerage currently has a $109.00 price objective on the scientific and technical instruments company’s stock, up from their previous price objective of $103.00.

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 boosted their price target for the company from $68.00 to $105.00 in a research report on Tuesday, February 27th. TD Cowen upped their target price on Itron from $110.00 to $115.00 and gave the stock a buy rating in a report on Friday. TheStreet upgraded Itron from a c rating to a b- rating in a research note on Monday, February 26th. Oppenheimer raised Itron from a market perform rating to an outperform rating and set a $81.00 price target on the stock in a research note on Friday, January 19th. Finally, JPMorgan Chase & Co. increased their price objective on Itron from $77.00 to $92.00 and gave the stock a neutral rating in a report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Itron has a consensus rating of Moderate Buy and a consensus price target of $103.60.

Itron Trading Up 7.2 %

Shares of ITRI stock traded up $7.19 during trading hours on Friday, reaching $107.01. The company’s stock had a trading volume of 1,235,838 shares, compared to its average volume of 473,020. The company has a current ratio of 1.90, a quick ratio of 1.43 and a debt-to-equity ratio of 0.33. Itron has a one year low of $56.11 and a one year high of $107.11. The stock has a market capitalization of $4.91 billion, a P/E ratio of 30.75, a P/E/G ratio of 1.11 and a beta of 1.38. The firm’s fifty day simple moving average is $91.94 and its 200 day simple moving average is $77.39.

Itron (NASDAQ:ITRI) last released its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.39. Itron had a net margin of 7.03% and a return on equity of 14.51%. The business had revenue of $603.44 million for the quarter, compared to analysts’ expectations of $579.49 million. During the same quarter in the previous year, the business posted $0.49 earnings per share. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. Equities research analysts expect that Itron will post 3.61 EPS for the current year.

Insider Activity at Itron

In other Itron news, SVP Donald L. Reeves III sold 383 shares of Itron stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $28,866.71. Following the completion of the transaction, the senior vice president now directly owns 8,708 shares of the company’s stock, valued at $656,321.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Itron news, SVP Donald L. Reeves III sold 383 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total transaction of $28,866.71. Following the sale, the senior vice president now directly owns 8,708 shares in the company, valued at approximately $656,321.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Thomas Deitrich sold 1,912 shares of Itron stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $144,107.44. Following the completion of the sale, the chief executive officer now directly owns 169,073 shares of the company’s stock, valued at approximately $12,743,032.01. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,467 shares of company stock valued at $2,752,520. 1.45% of the stock is owned by insiders.

Hedge Funds Weigh In On Itron

Several hedge funds and other institutional investors have recently bought and sold shares of ITRI. GAMMA Investing LLC bought a new stake in shares of Itron in the fourth quarter worth approximately $27,000. Contravisory Investment Management Inc. raised its stake in 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 buying an additional 131 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Itron by 9,150.0% during the 3rd quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 549 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of Itron in the 4th quarter worth $50,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Itron in the fourth quarter worth $76,000. 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.