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

by · The Markets Daily

Itron (NASDAQ:ITRI – Free Report) had its target price boosted by Guggenheim from $128.00 to $135.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

A number of other equities research analysts also recently issued reports on ITRI. Roth Mkm boosted their price target on Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Piper Sandler boosted their price target on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Stephens restated an “equal weight” rating and set a $110.00 price target on shares of Itron in a research note on Monday, August 5th. TD Cowen boosted their price objective on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Janney Montgomery Scott initiated coverage on Itron in a research note on Friday, September 27th. They set a “buy” rating and a $131.00 price objective for the company. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.92.

Read Our Latest Stock Analysis on ITRI

Itron Stock Performance

NASDAQ:ITRI traded up $0.67 during mid-day trading on Wednesday, reaching $122.79. The company’s stock had a trading volume of 58,385 shares, compared to its average volume of 523,655. Itron has a 12-month low of $62.45 and a 12-month high of $123.68. The firm’s fifty day moving average price is $104.90 and its two-hundred day moving average price is $103.24. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. The stock has a market cap of $5.54 billion, a P/E ratio of 25.02, a PEG ratio of 0.86 and a beta of 1.46.

Itron (NASDAQ:ITRI – Get Free Report) last issued its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.71. Itron had a return on equity of 19.03% and a net margin of 9.37%. The business had revenue of $615.46 million during the quarter, compared to analyst estimates of $596.41 million. During the same quarter in the previous year, the firm earned $0.98 EPS. Itron’s revenue was up 9.8% on a year-over-year basis. On average, equities analysts forecast that Itron will post 5.34 EPS for the current fiscal year.

Insider Transactions at Itron

In related news, CFO Joan S. Hooper sold 509 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $51,994.35. Following the sale, the chief financial officer now owns 72,338 shares in the company, valued at approximately $7,389,326.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Joan S. Hooper sold 509 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $51,994.35. Following the transaction, the chief financial officer now owns 72,338 shares of the company’s stock, valued at approximately $7,389,326.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total value of $425,210.00. Following the transaction, the senior vice president now directly owns 16,269 shares in the company, valued at $1,643,169. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,276 shares of company stock valued at $4,515,846 in the last ninety days. Corporate insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Itron

A number of institutional investors and hedge funds have recently modified their holdings of ITRI. Janney Montgomery Scott LLC acquired a new stake in shares of Itron during the first quarter worth about $346,000. Jennison Associates LLC lifted its holdings in Itron by 19.3% in the first quarter. Jennison Associates LLC now owns 5,625 shares of the scientific and technical instruments company’s stock valued at $520,000 after acquiring an additional 909 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Itron by 293.4% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,198 shares of the scientific and technical instruments company’s stock valued at $388,000 after acquiring an additional 3,131 shares during the period. Texas Permanent School Fund Corp lifted its holdings in Itron by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 39,815 shares of the scientific and technical instruments company’s stock valued at $3,684,000 after acquiring an additional 516 shares during the period. Finally, Quantbot Technologies LP lifted its holdings in Itron by 186.0% in the first quarter. Quantbot Technologies LP now owns 36,260 shares of the scientific and technical instruments company’s stock valued at $3,355,000 after acquiring an additional 23,581 shares during the period. Institutional investors and hedge funds own 96.19% of the company’s stock.

About Itron

(Get Free Report)

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.

Featured Articles