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

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

Several other equities analysts have also issued reports on the company. Canaccord Genuity Group raised Itron from a hold rating to a buy rating and raised their price objective for the stock from $68.00 to $105.00 in a report on Tuesday, February 27th. Piper Sandler reaffirmed an overweight rating and set a $109.00 price target (up previously from $103.00) on shares of Itron in a research report on Friday. TD Cowen increased their price objective on Itron from $110.00 to $115.00 and gave the company a buy rating in a report on Friday. TheStreet upgraded shares of Itron from a c rating to a b- rating in a research report on Monday, February 26th. Finally, Oppenheimer upped their price target on shares of Itron from $100.00 to $110.00 and gave the company an outperform rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $104.18.

Itron Stock Up 0.3 %

Shares of Itron stock traded up $0.36 during trading on Friday, hitting $107.37. 700,072 shares of the stock were exchanged, compared to its average volume of 438,584. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.90 and a quick ratio of 1.40. The firm’s 50-day moving average price is $91.94 and its 200 day moving average price is $77.64. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 30.77, a price-to-earnings-growth ratio of 1.16 and a beta of 1.38. Itron has a 12-month low of $56.11 and a 12-month high of $108.60.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results 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. Itron had a return on equity of 14.51% and a net margin of 7.03%. The company had revenue of $603.44 million during the quarter, compared to the consensus estimate of $579.49 million. During the same period in the previous year, the business earned $0.49 EPS. Itron’s revenue for the quarter was up 22.0% on a year-over-year basis. As a group, analysts forecast that Itron will post 3.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Itron

In other Itron news, SVP Donald L. Reeves III sold 383 shares of Itron 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 completion of the transaction, the senior vice president now owns 8,708 shares of the company’s stock, valued at $656,321.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Itron news, CEO Thomas Deitrich sold 1,912 shares of the business’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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Donald L. Reeves III sold 383 shares of the stock in a transaction that occurred 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 directly owns 8,708 shares of the company’s stock, valued at $656,321.96. The disclosure for this sale can be found here. Insiders have sold 30,467 shares of company stock worth $2,752,520 over the last quarter. 1.45% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Itron

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Itron during the 4th quarter valued at $24,504,000. Assenagon Asset Management S.A. boosted its stake in Itron by 517.4% during the third quarter. Assenagon Asset Management S.A. now owns 246,688 shares of the scientific and technical instruments company’s stock valued at $14,944,000 after buying an additional 206,729 shares in the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in Itron during the fourth quarter worth about $11,654,000. Vanguard Group Inc. raised its position in Itron by 2.6% in the third quarter. Vanguard Group Inc. now owns 5,668,071 shares of the scientific and technical instruments company’s stock worth $343,372,000 after acquiring an additional 142,564 shares in the last quarter. Finally, Braun Stacey Associates Inc. lifted its holdings in Itron by 140.6% in the 4th quarter. Braun Stacey Associates Inc. now owns 216,188 shares of the scientific and technical instruments company’s stock valued at $16,324,000 after acquiring an additional 126,328 shares during 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.