Itron (NASDAQ:ITRI) Price Target Raised to $109.00

Itron (NASDAQ:ITRI) had its target price lifted by JPMorgan Chase & Co. from $107.00 to $109.00 in a report released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the scientific and technical instruments company’s stock.

Several other equities analysts have also weighed in on the stock. BNP Paribas Exane decreased their target price on shares of Itron from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday. Robert W. Baird set a $125.00 price target on shares of Itron in a research note on Wednesday, July 29th. Weiss Ratings upgraded shares of Itron from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, October 12th. Seaport Research Partners reaffirmed a “buy” rating and set a $150.00 price target on shares of Itron in a research report on Wednesday, July 29th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Itron in a report on Wednesday. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.20.

Itron Stock Up 1.2%

Shares of NASDAQ:ITRI opened at $95.82 on Wednesday. Itron has a 52-week low of $77.77 and a 52-week high of $112.00. The stock has a market cap of $4.20 billion, a P/E ratio of 15.48, a PEG ratio of 1.07 and a beta of 1.32. The business has a fifty day moving average of $91.05 and a two-hundred day moving average of $91.04. The company has a quick ratio of 2.29, a current ratio of 2.83 and a debt-to-equity ratio of 0.92.

Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Tuesday, October 27th. The scientific and technical instruments company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.56 by $0.38. The business had revenue of $599.33 million for the quarter, compared to analyst estimates of $595.50 million. Itron had a return on equity of 20.11% and a net margin of 12.05%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.54 EPS. On average, research analysts expect that Itron will post 6.78 earnings per share for the current year.

Insider Buying and Selling at Itron

In other Itron news, CFO Joan S. Hooper sold 4,406 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $98.86, for a total value of $435,577.16. Following the completion of the transaction, the chief financial officer owned 117,113 shares in the company, valued at $11,577,791.18. The trade was a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP John Marcolini sold 331 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $98.79, for a total value of $32,699.49. Following the sale, the senior vice president owned 12,683 shares in the company, valued at approximately $1,252,953.57. This trade represents a 2.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 17,903 shares of company stock worth $1,753,521. 1.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On Itron

Institutional investors and hedge funds have recently modified their holdings of the company. Impact Partnership Wealth LLC grew its stake in shares of Itron by 4.7% in the first quarter. Impact Partnership Wealth LLC now owns 2,661 shares of the scientific and technical instruments company’s stock worth $239,000 after purchasing an additional 119 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Itron by 37.9% during the third quarter. Farther Finance Advisors LLC now owns 640 shares of the scientific and technical instruments company’s stock valued at $55,000 after purchasing an additional 176 shares in the last quarter. Two Sigma Securities LLC lifted its holdings in Itron by 5.2% in the second quarter. Two Sigma Securities LLC now owns 3,937 shares of the scientific and technical instruments company’s stock worth $341,000 after purchasing an additional 195 shares during the period. Personal CFO Solutions LLC lifted its holdings in Itron by 8.3% in the first quarter. Personal CFO Solutions LLC now owns 2,727 shares of the scientific and technical instruments company’s stock worth $244,000 after purchasing an additional 208 shares during the period. Finally, IFP Advisors Inc lifted its holdings in Itron by 38.7% in the third quarter. IFP Advisors Inc now owns 803 shares of the scientific and technical instruments company’s stock worth $69,000 after purchasing an additional 224 shares during the period. Institutional investors and hedge funds own 96.19% of the company’s stock.

About Itron

Itron, Inc is a technology company that provides solutions to utilities and cities for managing electricity, natural gas, and water resources. Its offerings help organizations measure consumption, collect and analyze data, improve operational efficiency, and support more reliable and sustainable delivery of essential services.

The company’s portfolio includes smart meters, advanced metering infrastructure, communications networks, sensors, data management systems, and utility software.