Guggenheim Issues Pessimistic Forecast for Itron (NASDAQ:ITRI) Stock Price

Itron (NASDAQ:ITRI) had its price objective lowered by Guggenheim from $135.00 to $133.00 in a research note released on Thursday,Benzinga reports. Guggenheim currently has a buy rating on the scientific and technical instruments company’s stock.

ITRI has been the subject of several other reports. Robert W. Baird upped their price objective on Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Piper Sandler raised their price target on shares of Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday. Oppenheimer upped their price objective on shares of Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research report on Wednesday. StockNews.com upgraded shares of Itron from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 21st. Finally, TD Cowen upped their price target on shares of Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Itron has a consensus rating of “Moderate Buy” and a consensus price target of $127.64.

Itron Stock Down 0.8 %

Shares of ITRI opened at $106.89 on Thursday. The firm has a 50 day simple moving average of $104.98 and a two-hundred day simple moving average of $106.85. The company has a market cap of $4.82 billion, a P/E ratio of 21.90, a P/E/G ratio of 0.81 and a beta of 1.46. Itron has a one year low of $86.13 and a one year high of $124.90. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83.

Insider Transactions at Itron

In other Itron news, CAO David Marshall Wright sold 317 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $29,449.30. Following the sale, the chief accounting officer now owns 8,108 shares of the company’s stock, valued at approximately $753,233.20. This represents a 3.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Joan S. Hooper sold 2,322 shares of Itron stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $215,713.80. Following the completion of the transaction, the chief financial officer now directly owns 92,076 shares of the company’s stock, valued at approximately $8,553,860.40. This trade represents a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,287 shares of company stock worth $305,362 over the last ninety days. 1.45% of the stock is owned by insiders.

Institutional Trading of Itron

Hedge funds have recently modified their holdings of the stock. Virtue Capital Management LLC increased its stake in Itron by 5.4% in the fourth quarter. Virtue Capital Management LLC now owns 8,249 shares of the scientific and technical instruments company’s stock valued at $896,000 after purchasing an additional 419 shares in the last quarter. GTS Securities LLC bought a new stake in Itron in the 4th quarter valued at about $288,000. Vise Technologies Inc. increased its position in Itron by 18.4% in the 4th quarter. Vise Technologies Inc. now owns 2,456 shares of the scientific and technical instruments company’s stock valued at $267,000 after buying an additional 381 shares in the last quarter. Squarepoint Ops LLC raised its stake in Itron by 52.6% during the 4th quarter. Squarepoint Ops LLC now owns 139,538 shares of the scientific and technical instruments company’s stock worth $15,151,000 after buying an additional 48,084 shares during the period. Finally, Tema Etfs LLC acquired a new stake in Itron in the fourth quarter valued at approximately $517,000. 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.