Canaccord Genuity Group Raises Itron (NASDAQ:ITRI) Price Target to $132.00

Itron (NASDAQ:ITRI) had its price target raised by analysts at Canaccord Genuity Group from $130.00 to $132.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the scientific and technical instruments company’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 21.79% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Oppenheimer upped their price objective on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research note on Wednesday. Piper Sandler boosted their target price on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. StockNews.com raised shares of Itron from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 21st. Roth Mkm increased their price objective on shares of Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, TD Cowen upped their price target on shares of Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.50.

Itron Stock Up 6.5 %

Shares of Itron stock traded up $6.58 during trading hours on Wednesday, reaching $108.39. 486,409 shares of the company’s stock were exchanged, compared to its average volume of 594,286. The stock has a market cap of $4.89 billion, a P/E ratio of 22.21, a P/E/G ratio of 0.81 and a beta of 1.46. The company has a 50 day moving average of $104.99 and a two-hundred day moving average of $106.84. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. Itron has a fifty-two week low of $86.13 and a fifty-two week high of $124.90.

Insider Transactions at Itron

In related news, SVP Christopher E. Ware sold 648 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $60,199.20. Following the completion of the sale, the senior vice president now directly owns 20,326 shares of the company’s stock, valued at $1,888,285.40. The trade was a 3.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Joan S. Hooper sold 2,322 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $215,713.80. Following the sale, the chief financial officer now owns 92,076 shares of the company’s stock, valued at approximately $8,553,860.40. This represents a 2.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,287 shares of company stock worth $305,362. Company insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ITRI. Louisiana State Employees Retirement System lifted its stake in Itron by 0.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 21,800 shares of the scientific and technical instruments company’s stock valued at $2,367,000 after acquiring an additional 100 shares in the last quarter. Quarry LP lifted its position in shares of Itron by 29.0% during the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock valued at $48,000 after purchasing an additional 102 shares in the last quarter. Continuum Advisory LLC boosted its holdings in Itron by 42.1% during the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock worth $40,000 after purchasing an additional 102 shares during the last quarter. Stifel Financial Corp grew its position in Itron by 2.2% in the 3rd quarter. Stifel Financial Corp now owns 4,921 shares of the scientific and technical instruments company’s stock worth $526,000 after purchasing an additional 108 shares in the last quarter. Finally, Covestor Ltd increased its stake in Itron by 26.1% in the 3rd quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock valued at $57,000 after buying an additional 111 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

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.