Itron, Inc. (NASDAQ:ITRI) Receives $95.60 Average Target Price from Brokerages

Itron, Inc. (NASDAQ:ITRI) has been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $95.60.

A number of equities research analysts recently issued reports on ITRI shares. Robert W. Baird boosted their price objective on Itron from $108.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. boosted their price objective on Itron from $77.00 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. TheStreet raised Itron from a “c” rating to a “b-” rating in a report on Monday, February 26th. Piper Sandler cut their price objective on Itron from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. Finally, Raymond James lowered Itron from an “outperform” rating to a “market perform” rating in a report on Thursday, January 4th.

Itron Price Performance

ITRI opened at $91.46 on Friday. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 43.55, a P/E/G ratio of 0.99 and a beta of 1.41. Itron has a 1 year low of $50.60 and a 1 year high of $96.73. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.95 and a quick ratio of 1.43. The firm’s fifty day moving average price is $88.21 and its two-hundred day moving average price is $75.27.

Itron (NASDAQ:ITRI) last released its earnings results on Monday, February 26th. The scientific and technical instruments company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.48. The company had revenue of $577.17 million for the quarter, compared to analysts’ expectations of $569.90 million. Itron had a return on equity of 12.27% and a net margin of 4.46%. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 EPS. As a group, analysts anticipate that Itron will post 3.61 earnings per share for the current fiscal year.

Insider Activity at Itron

In related news, Director Jerome J. Lande sold 14,896 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the sale, the director now directly owns 5,750 shares of the company’s stock, valued at $547,687.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Itron news, Director Jerome J. Lande sold 14,896 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $95.25, for a total value of $1,418,844.00. Following the transaction, the director now owns 5,750 shares of the company’s stock, valued at $547,687.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $28,866.71. Following the completion of the transaction, 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. Insiders have sold 30,467 shares of company stock valued at $2,752,520 over the last ninety days. Insiders own 1.45% of the company’s stock.

Hedge Funds Weigh In On Itron

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Itron by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,668,071 shares of the scientific and technical instruments company’s stock valued at $343,372,000 after buying an additional 142,564 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Itron by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,681,573 shares of the scientific and technical instruments company’s stock valued at $126,978,000 after buying an additional 51,874 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in Itron by 16.0% during the 4th quarter. Vontobel Holding Ltd. now owns 804,648 shares of the scientific and technical instruments company’s stock valued at $60,759,000 after buying an additional 110,849 shares in the last quarter. Guinness Asset Management LTD grew its holdings in Itron by 1.9% during the 3rd quarter. Guinness Asset Management LTD now owns 635,881 shares of the scientific and technical instruments company’s stock valued at $38,504,000 after buying an additional 11,983 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Itron by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 518,157 shares of the scientific and technical instruments company’s stock valued at $39,126,000 after buying an additional 15,157 shares in 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.