Itron, Inc. (NASDAQ:ITRI) Receives $136.10 Average Price Target from Brokerages

Itron, Inc. (NASDAQ:ITRI) has been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $136.10.

Several equities research analysts have recently commented on the stock. Argus reaffirmed a “hold” rating on shares of Itron in a research report on Tuesday, November 4th. Oppenheimer lowered their price objective on shares of Itron from $145.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, January 27th. Zacks Research cut Itron from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 28th. Stephens upgraded Itron from an “equal weight” rating to an “overweight” rating and set a $130.00 target price for the company in a research note on Monday, November 3rd. Finally, Wall Street Zen cut Itron from a “buy” rating to a “hold” rating in a research note on Wednesday, January 14th.

Itron Price Performance

Shares of ITRI stock opened at $99.08 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.17. Itron has a fifty-two week low of $90.11 and a fifty-two week high of $142.00. The firm has a market cap of $4.54 billion, a P/E ratio of 17.82, a P/E/G ratio of 0.56 and a beta of 1.48. The business’s 50 day moving average price is $97.30 and its 200-day moving average price is $113.44.

Itron (NASDAQ:ITRI) last announced its earnings results on Thursday, October 30th. The scientific and technical instruments company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. The company had revenue of $581.63 million during the quarter, compared to the consensus estimate of $578.49 million. Itron had a return on equity of 17.82% and a net margin of 10.69%.The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.84 earnings per share. On average, equities research analysts anticipate that Itron will post 5.33 earnings per share for the current year.

Insider Buying and Selling at Itron

In related news, SVP John F. Marcolini sold 553 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $96.51, for a total value of $53,370.03. Following the completion of the transaction, the senior vice president directly owned 13,843 shares in the company, valued at $1,335,987.93. This trade represents a 3.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Christopher E. Ware sold 343 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $96.51, for a total transaction of $33,102.93. Following the sale, the senior vice president directly owned 18,774 shares in the company, valued at $1,811,878.74. The trade was a 1.79% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 2,971 shares of company stock valued at $286,731. Company insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Itron

Institutional investors and hedge funds have recently made changes to their positions in the business. State of New Jersey Common Pension Fund D boosted its position in shares of Itron by 30.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 22,404 shares of the scientific and technical instruments company’s stock worth $2,080,000 after purchasing an additional 5,168 shares in the last quarter. Pictet Asset Management Holding SA increased its position in Itron by 8.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,372 shares of the scientific and technical instruments company’s stock valued at $592,000 after buying an additional 523 shares in the last quarter. Inscription Capital LLC purchased a new position in Itron during the fourth quarter valued at $297,000. Peregrine Capital Management LLC boosted its holdings in Itron by 19.3% in the fourth quarter. Peregrine Capital Management LLC now owns 103,474 shares of the scientific and technical instruments company’s stock worth $9,609,000 after acquiring an additional 16,742 shares in the last quarter. Finally, Graphene Investments SAS grew its stake in shares of Itron by 13.1% in the fourth quarter. Graphene Investments SAS now owns 29,400 shares of the scientific and technical instruments company’s stock worth $2,730,000 after acquiring an additional 3,400 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

About Itron

Itron, Inc (NASDAQ: ITRI) is a global technology company that develops innovative solutions to measure, manage and analyze the use of energy and water. Its comprehensive portfolio includes smart meters, data collection devices, communication networks and advanced software applications designed to optimize utility operations and foster sustainable resource management. The company’s offerings enable utilities and cities to accurately monitor consumption patterns, streamline billing processes and improve grid reliability.

Itron’s product lineup spans a range of hardware and software solutions, from residential and commercial smart meters to meter data management systems (MDMS), networked communication platforms and analytics tools.