Itron (NASDAQ:ITRI) Price Target Raised to $132.00

Itron (NASDAQ:ITRI) had its target price boosted by Canaccord Genuity Group from $130.00 to $132.00 in a research report report published on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the scientific and technical instruments company’s stock.

A number of other research analysts have also weighed in on ITRI. TD Cowen raised their price target on shares of Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Roth Mkm raised their price target on shares of Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Oppenheimer raised their price target on shares of Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a research note on Wednesday. Robert W. Baird raised their price target on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Guggenheim raised their price target on shares of Itron from $128.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Itron presently has an average rating of “Moderate Buy” and a consensus target price of $127.64.

Itron Price Performance

NASDAQ:ITRI opened at $108.89 on Wednesday. Itron has a 52 week low of $86.13 and a 52 week high of $124.90. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $4.91 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 0.81 and a beta of 1.46. The stock’s 50-day moving average price is $104.96 and its 200-day moving average price is $106.85.

Insiders Place Their Bets

In other Itron news, Director Mary C. Hemmingsen sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $107.27, for a total value of $80,452.50. Following the transaction, the director now directly owns 5,630 shares of the company’s stock, valued at $603,930.10. This trade represents a 11.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Christopher E. Ware sold 648 shares of Itron stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $60,199.20. Following the sale, the senior vice president now directly owns 20,326 shares in the company, valued at approximately $1,888,285.40. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,037 shares of company stock valued at $385,815 in the last ninety days. 1.45% of the stock is currently owned by corporate insiders.

Institutional Trading of Itron

Several institutional investors have recently made changes to their positions in ITRI. Norges Bank purchased a new stake in shares of Itron during the 4th quarter valued at approximately $64,615,000. Erste Asset Management GmbH purchased a new stake in shares of Itron during the 3rd quarter valued at approximately $38,534,000. Bowen Hanes & Co. Inc. purchased a new stake in shares of Itron during the 4th quarter valued at approximately $27,486,000. Raiffeisen Bank International AG purchased a new stake in shares of Itron during the 4th quarter valued at approximately $27,619,000. Finally, Franklin Resources Inc. increased its holdings in Itron by 611.9% in the 3rd quarter. Franklin Resources Inc. now owns 282,828 shares of the scientific and technical instruments company’s stock valued at $31,128,000 after purchasing an additional 243,102 shares during the last quarter. 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.