Itron, Inc. (NASDAQ:ITRI) Stock Has Average Price Target of $129.20

Shares of Itron, Inc. (NASDAQ:ITRI) have been given an average rating of “Moderate Buy” by the thirteen brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $129.20.

Several analysts have issued reports on the company. Weiss Ratings lowered Itron from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 28th. BNP Paribas Exane reduced their target price on Itron from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 28th. Oppenheimer restated an “outperform” rating on shares of Itron in a research note on Wednesday, October 28th. Zacks Research cut shares of Itron from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Itron from $107.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th.

Insiders Place Their Bets

In other Itron news, SVP Justin Patrick sold 10,210 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $97.36, for a total value of $994,045.60. Following the transaction, the senior vice president directly owned 22,065 shares of the company’s stock, valued at $2,148,248.40. This represents a 31.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Donald Reeves, III sold 329 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $98.79, for a total transaction of $32,501.91. Following the sale, the senior vice president owned 27,945 shares of the company’s stock, valued at $2,760,686.55. This trade represents a 1.16% decrease in their ownership of the stock. 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. Insiders have sold 19,233 shares of company stock worth $1,886,033 in the last 90 days. Corporate insiders own 1.77% of the company’s stock.

Institutional Trading of Itron

Several hedge funds have recently added to or reduced their stakes in ITRI. PenderFund Capital Management Ltd. acquired a new position in Itron in the 2nd quarter valued at $35,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Itron during the second quarter worth $36,000. Quantbot Technologies LP acquired a new stake in shares of Itron during the second quarter worth $36,000. Public Employees Retirement System of Ohio bought a new stake in shares of Itron in the second quarter valued at about $48,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Itron by 37.9% in 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 acquiring an additional 176 shares during the period. 96.19% of the stock is owned by institutional investors and hedge funds.

Itron Stock Performance

Shares of ITRI opened at $98.44 on Friday. The firm has a 50-day moving average of $91.09 and a 200-day moving average of $91.05. Itron has a one year low of $77.77 and a one year high of $108.20. The company has a market cap of $4.32 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.16 and a beta of 1.33. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.83 and a quick ratio of 2.36.

Itron (NASDAQ:ITRI) last issued its earnings results on Tuesday, October 27th. The scientific and technical instruments company reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.38. Itron had a net margin of 12.05% and a return on equity of 20.11%. The company had revenue of $599.33 million for the quarter, compared to analysts’ expectations of $595.50 million. During the same period in the prior year, the firm earned $1.54 EPS. Itron’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts forecast that Itron will post 6.78 earnings per share for the current year.

Itron Company Profile

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.