Itron (NASDAQ:ITRI) Price Target Increased to $115.00 by Analysts at TD Cowen

Itron (NASDAQ:ITRI) had its price target upped by TD Cowen from $110.00 to $115.00 in a report issued on Friday, MarketBeat Ratings reports. TD Cowen currently has a buy rating on the scientific and technical instruments company’s stock.

Other research analysts have also issued research reports about the company. Oppenheimer raised Itron from a market perform rating to an outperform rating and set a $81.00 price target on the stock in a research report on Friday, January 19th. Canaccord Genuity Group upgraded shares of Itron from a hold rating to a buy rating and increased their price target for the stock from $68.00 to $105.00 in a research note on Tuesday, February 27th. JPMorgan Chase & Co. lifted their price objective on shares of Itron from $77.00 to $92.00 and gave the company a neutral rating in a research note on Wednesday, March 13th. Raymond James downgraded shares of Itron from an outperform rating to a market perform rating in a research note on Thursday, January 4th. Finally, Roth Mkm reaffirmed a buy rating and set a $102.00 price objective on shares of Itron in a research report on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $103.60.

Itron Stock Up 7.2 %

Shares of NASDAQ ITRI traded up $7.19 during midday trading on Friday, hitting $107.01. 1,235,838 shares of the company’s stock were exchanged, compared to its average volume of 473,020. The firm’s fifty day simple moving average is $91.94 and its 200-day simple moving average is $77.39. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.90 and a quick ratio of 1.43. The company has a market cap of $4.91 billion, a PE ratio of 30.75, a P/E/G ratio of 1.11 and a beta of 1.38. Itron has a twelve month low of $56.11 and a twelve month high of $107.11.

Itron (NASDAQ:ITRI) last issued 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 net margin of 7.03% and a return on equity of 14.51%. The business had revenue of $603.44 million during the quarter, compared to analysts’ expectations of $579.49 million. During the same quarter in the prior year, the business posted $0.49 EPS. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. Research analysts predict that Itron will post 3.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, 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 transaction of $28,866.71. Following the transaction, the senior vice president now directly owns 8,708 shares of the company’s stock, valued at approximately $656,321.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Thomas Deitrich sold 1,912 shares of Itron stock in a transaction on Tuesday, February 20th. The stock was 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 $12,743,032.01. The sale was disclosed in a legal filing with the SEC, which is accessible 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 completion of the sale, the senior vice president now directly owns 8,708 shares in the company, valued at approximately $656,321.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,467 shares of company stock worth $2,752,520. 1.45% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Itron

Several hedge funds have recently added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Itron by 293.4% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,198 shares of the scientific and technical instruments company’s stock worth $388,000 after purchasing an additional 3,131 shares in the last quarter. Jennison Associates LLC increased its position in Itron by 19.3% during the first quarter. Jennison Associates LLC now owns 5,625 shares of the scientific and technical instruments company’s stock worth $520,000 after buying an additional 909 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Itron in the first quarter worth $346,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Itron by 10.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 110,697 shares of the scientific and technical instruments company’s stock valued at $10,242,000 after acquiring an additional 10,716 shares in the last quarter. Finally, Braun Stacey Associates Inc. boosted its stake in shares of Itron by 18.2% during the first quarter. Braun Stacey Associates Inc. now owns 255,497 shares of the scientific and technical instruments company’s stock valued at $23,638,000 after acquiring an additional 39,309 shares during the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

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.