Itron (NASDAQ:ITRI) Price Target Increased to $115.00 by Analysts at Canaccord Genuity Group

Itron (NASDAQ:ITRI) had its target price upped by Canaccord Genuity Group from $105.00 to $115.00 in a report released on Friday, Benzinga reports. The firm currently has a buy rating on the scientific and technical instruments company’s stock.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. increased their target price on Itron from $77.00 to $92.00 and gave the company a neutral rating in a research report on Wednesday, March 13th. Piper Sandler restated an overweight rating and set a $109.00 target price (up from $103.00) on shares of Itron in a research report on Friday. Robert W. Baird lifted their price target on Itron from $108.00 to $115.00 and gave the stock an outperform rating in a research report on Wednesday, March 13th. Oppenheimer upped their price objective on Itron from $100.00 to $110.00 and gave the company an outperform rating in a research report on Friday. Finally, Raymond James lowered Itron from an outperform rating to a market perform rating in a research note on Thursday, January 4th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $103.60.

Itron Stock Performance

Shares of NASDAQ ITRI traded up $7.19 during trading on Friday, hitting $107.01. The company had a trading volume of 1,235,838 shares, compared to its average volume of 473,020. The stock has a 50 day simple moving average of $91.94 and a 200 day simple moving average of $77.39. The firm has a market capitalization of $4.91 billion, a P/E ratio of 30.75, a price-to-earnings-growth ratio of 1.11 and a beta of 1.38. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.43 and a current ratio of 1.90. Itron has a 12 month low of $56.11 and a 12 month high of $107.11.

Itron (NASDAQ:ITRI) last posted its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.39. The company had revenue of $603.44 million during the quarter, compared to analysts’ expectations of $579.49 million. Itron had a net margin of 7.03% and a return on equity of 14.51%. Itron’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period last year, the company posted $0.49 earnings per share. As a group, analysts anticipate that Itron will post 3.61 earnings per share for the current year.

Insider Activity at Itron

In related news, 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 transaction, the senior vice president now owns 8,708 shares of the company’s stock, valued at $656,321.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Itron news, SVP Donald L. Reeves III sold 383 shares of the stock in a transaction dated 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 in the company, valued at approximately $656,321.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Donald L. Reeves III sold 536 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $87.10, for a total transaction of $46,685.60. Following the transaction, the senior vice president now directly owns 17,425 shares in the company, valued at approximately $1,517,717.50. The disclosure for this sale can be found here. Insiders sold 30,467 shares of company stock worth $2,752,520 in the last 90 days. 1.45% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new stake in shares of Itron in the 4th quarter worth $27,000. Contravisory Investment Management Inc. grew its stake in shares of 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 worth $32,000 after acquiring an additional 131 shares during the last quarter. Covestor Ltd increased its holdings in shares of Itron by 9,150.0% during the third quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 549 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Itron in the 4th quarter valued at approximately $50,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Itron during the 4th quarter worth approximately $76,000. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

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.