Canaccord Genuity Group Increases Itron (NASDAQ:ITRI) Price Target to $115.00

Itron (NASDAQ:ITRI) had its target price lifted by investment analysts at Canaccord Genuity Group from $105.00 to $115.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the scientific and technical instruments company’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 7.47% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Roth Mkm raised their target price on shares of Itron from $102.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday. Raymond James cut Itron from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 4th. Oppenheimer upped their target price on Itron from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday. JPMorgan Chase & Co. raised their target price on Itron from $77.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Finally, Robert W. Baird lifted their price target on Itron from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.60.

Itron Trading Up 7.2 %

ITRI traded up $7.19 during midday trading on Friday, reaching $107.01. 1,235,792 shares of the company’s stock traded hands, compared to its average volume of 435,543. Itron has a 52 week low of $56.11 and a 52 week high of $107.11. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.95 and a quick ratio of 1.43. The firm has a fifty day moving average of $91.94 and a two-hundred day moving average of $77.39. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 50.96, a P/E/G ratio of 1.02 and a beta of 1.38.

Itron (NASDAQ:ITRI) last posted its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.39. Itron had a return on equity of 12.27% and a net margin of 4.46%. The firm had revenue of $603.44 million for the quarter, compared to analysts’ expectations of $579.49 million. During the same period in the previous year, the firm earned $0.49 earnings per share. The business’s revenue was up 22.0% compared to the same quarter last year. On average, equities analysts anticipate that Itron will post 3.61 earnings per share for the current fiscal year.

Insider Transactions at Itron

In other news, Director Jerome J. Lande sold 14,896 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $95.25, for a total value of $1,418,844.00. Following the transaction, 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 SEC, which is available at this link. In other Itron news, Director Jerome J. Lande sold 14,896 shares of Itron stock in a transaction 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 of the company’s stock, valued at approximately $547,687.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Donald L. Reeves III sold 383 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 value of $28,866.71. Following the transaction, the senior vice president now directly owns 8,708 shares in the company, valued at $656,321.96. The disclosure for this sale can be found here. Insiders sold a total of 30,467 shares of company stock valued at $2,752,520 in the last quarter. 1.45% of the stock is owned by insiders.

Institutional Trading of Itron

A number of institutional investors have recently made changes to their positions in the stock. Contravisory Investment Management Inc. lifted its position in Itron by 61.5% during the first quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock valued at $32,000 after purchasing an additional 131 shares during the period. GAMMA Investing LLC purchased a new position in shares of Itron in the 4th quarter worth $27,000. Covestor Ltd grew its holdings in shares of Itron by 9,150.0% in the third quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 549 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Itron in the fourth quarter worth $50,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Itron during the fourth quarter valued at $76,000. 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.