Roth Mkm Raises Itron (NASDAQ:ITRI) Price Target to $112.00

Itron (NASDAQ:ITRI) had its price objective hoisted by Roth Mkm from $102.00 to $112.00 in a report released on Friday, Benzinga reports. The firm currently has a buy rating on the scientific and technical instruments company’s stock.

A number of other equities analysts also recently issued reports on the stock. TD Cowen lifted 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. Piper Sandler restated an overweight rating and issued a $109.00 target price (up from $103.00) on shares of Itron in a research note on Friday. TheStreet raised Itron from a c rating to a b- rating in a report on Monday, February 26th. Canaccord Genuity Group raised shares of Itron from a hold rating to a buy rating and upped their target price for the stock from $68.00 to $105.00 in a report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. raised their price target on Itron from $77.00 to $92.00 and gave the company a neutral rating in a report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $103.60.

Itron Trading Up 7.2 %

NASDAQ:ITRI traded up $7.19 on Friday, reaching $107.01. 1,235,838 shares of the stock traded hands, compared to its average volume of 473,020. Itron has a 1-year low of $56.11 and a 1-year high of $107.11. The company has a current ratio of 1.90, a quick ratio of 1.43 and a debt-to-equity ratio of 0.33. The company’s 50 day moving average is $91.94 and its 200-day moving average is $77.39. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of 30.75, a price-to-earnings-growth 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, topping analysts’ consensus estimates of $0.85 by $0.39. The company had revenue of $603.44 million for the quarter, compared to analysts’ expectations of $579.49 million. Itron had a net margin of 7.03% and a return on equity of 14.51%. The business’s revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 EPS. Equities research analysts anticipate that Itron will post 3.61 EPS for the current fiscal year.

Insider Activity

In related news, Director Jerome J. Lande sold 14,896 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $95.25, for a total value of $1,418,844.00. Following the completion of the sale, the director now owns 5,750 shares in the company, valued at $547,687.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Jerome J. Lande sold 14,896 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the sale, the director now owns 5,750 shares in the company, valued at $547,687.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Donald L. Reeves III sold 383 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was 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 owns 8,708 shares of the company’s stock, valued at approximately $656,321.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,467 shares of company stock valued at $2,752,520. 1.45% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Itron

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Itron during the third quarter worth about $239,000. Raymond James Financial Services Advisors Inc. increased its position in shares of Itron by 1.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 19,549 shares of the scientific and technical instruments company’s stock valued at $1,184,000 after buying an additional 236 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Itron by 453.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 114,856 shares of the scientific and technical instruments company’s stock worth $6,958,000 after buying an additional 94,085 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Itron by 313.4% in the third quarter. Mackenzie Financial Corp now owns 11,595 shares of the scientific and technical instruments company’s stock valued at $677,000 after buying an additional 8,790 shares during the last quarter. Finally, Inspire Investing LLC grew its holdings in Itron by 9.6% in the 3rd quarter. Inspire Investing LLC now owns 5,684 shares of the scientific and technical instruments company’s stock valued at $344,000 after buying an additional 498 shares during the period. Hedge funds and other 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.