Itron (NASDAQ:ITRI) Stock Rating Reaffirmed by Piper Sandler

Itron (NASDAQ:ITRI)‘s stock had its “overweight” rating reaffirmed by investment analysts at Piper Sandler in a note issued to investors on Friday, Benzinga reports. They presently have a $109.00 target price on the scientific and technical instruments company’s stock, up from their prior target price of $103.00. Piper Sandler’s target price suggests a potential upside of 1.86% from the company’s current price.

Other research analysts also recently issued reports about the company. Oppenheimer upgraded Itron from a “market perform” rating to an “outperform” rating and set a $81.00 price objective for the company in a research note on Friday, January 19th. Roth Mkm restated a “buy” rating and set a $102.00 price objective on shares of Itron in a research note on Tuesday, April 23rd. TheStreet upgraded Itron from a “c” rating to a “b-” rating in a research note on Monday, February 26th. Raymond James downgraded Itron from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 4th. Finally, JPMorgan Chase & Co. increased their price target on Itron from $77.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $103.60.

Itron Price Performance

Shares of NASDAQ ITRI opened at $107.01 on Friday. Itron has a twelve month low of $56.11 and a twelve month high of $107.11. The company has a current ratio of 1.90, a quick ratio of 1.43 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 30.75, a price-to-earnings-growth ratio of 1.11 and a beta of 1.38. The business has a 50 day simple moving average of $91.94 and a 200-day simple moving average of $77.51.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.39. The business had revenue of $603.44 million during the quarter, compared to the consensus estimate of $579.49 million. Itron had a return on equity of 14.51% and a net margin of 7.03%. The business’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 EPS. As a group, equities research analysts expect that Itron will post 3.61 earnings per share for the current year.

Insider Activity

In other news, SVP Donald L. Reeves III sold 383 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $28,866.71. Following the completion of the sale, the senior vice president now owns 8,708 shares in the company, valued at $656,321.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Donald L. Reeves III sold 383 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $28,866.71. Following the completion of the sale, the senior vice president now owns 8,708 shares in the company, valued at $656,321.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Donald L. Reeves III sold 502 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $91.02, for a total value of $45,692.04. Following the completion of the sale, the senior vice president now owns 16,427 shares of the company’s stock, valued at approximately $1,495,185.54. The disclosure for this sale can be found here. Insiders sold a total of 30,467 shares of company stock worth $2,752,520 over the last 90 days. 1.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Itron

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC purchased a new stake in shares of Itron during the fourth quarter valued at $27,000. Contravisory Investment Management Inc. lifted its stake in Itron by 61.5% in the 1st quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock worth $32,000 after acquiring an additional 131 shares in the last quarter. Covestor Ltd lifted its stake in Itron by 9,150.0% in the 3rd quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 549 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Itron in the 4th quarter worth about $50,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Itron in the 4th quarter worth about $76,000. 96.19% of the stock is owned by hedge funds and other institutional investors.

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.