Stephens Raises Itron (NASDAQ:ITRI) Price Target to $110.00

Itron (NASDAQ:ITRI) had its target price raised by Stephens from $85.00 to $110.00 in a report released on Monday morning, Benzinga reports. They currently have an equal weight rating on the scientific and technical instruments company’s stock.

Several other brokerages also recently weighed in on ITRI. Canaccord Genuity Group boosted their price objective on Itron from $105.00 to $115.00 and gave the company a buy rating in a research report on Friday, May 3rd. Robert W. Baird upped their price target on shares of Itron from $108.00 to $115.00 and gave the company an outperform rating in a report on Wednesday, March 13th. Roth Mkm increased their price target on shares of Itron from $102.00 to $112.00 and gave the company a buy rating in a research report on Friday, May 3rd. Oppenheimer upped their price objective on shares of Itron from $100.00 to $110.00 and gave the company an outperform rating in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their target price on Itron from $77.00 to $92.00 and gave the stock a neutral rating in a research note on Wednesday, March 13th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $104.18.

Itron Price Performance

ITRI stock opened at $109.06 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.40 and a current ratio of 1.90. The firm has a market cap of $5.00 billion, a P/E ratio of 31.34, a P/E/G ratio of 1.16 and a beta of 1.38. The firm’s fifty day moving average is $92.90 and its 200 day moving average is $78.56. Itron has a 52 week low of $56.11 and a 52 week high of $109.97.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.39. Itron had a return on equity of 14.51% and a net margin of 7.03%. The firm had revenue of $603.44 million for the quarter, compared to analysts’ expectations of $579.49 million. During the same period last year, the firm earned $0.49 earnings per share. The company’s revenue for the quarter was up 22.0% compared to the same quarter last year. Research analysts predict that Itron will post 3.68 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jerome J. Lande sold 14,896 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 5,750 shares in the company, valued at approximately $547,687.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Itron news, CEO Thomas Deitrich sold 3,362 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $87.10, for a total value of $292,830.20. Following the sale, the chief executive officer now owns 205,162 shares in the company, valued at $17,869,610.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jerome J. Lande sold 14,896 shares of Itron stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $95.25, for a total transaction 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 30,467 shares of company stock worth $2,752,520. Company insiders own 1.45% of the company’s stock.

Institutional Trading of Itron

Several hedge funds and other institutional investors have recently made changes to their positions in ITRI. Vanguard Group Inc. boosted its holdings in Itron by 2.6% in the third quarter. Vanguard Group Inc. now owns 5,668,071 shares of the scientific and technical instruments company’s stock worth $343,372,000 after acquiring an additional 142,564 shares in the last quarter. Raymond James & Associates grew its position in Itron by 51.6% during the 4th quarter. Raymond James & Associates now owns 47,621 shares of the scientific and technical instruments company’s stock valued at $3,596,000 after purchasing an additional 16,208 shares during the last quarter. Trexquant Investment LP increased its stake in Itron by 48.8% during the 3rd quarter. Trexquant Investment LP now owns 57,431 shares of the scientific and technical instruments company’s stock valued at $3,479,000 after purchasing an additional 18,842 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Itron in the fourth quarter worth about $210,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Itron by 495.8% in the third quarter. Hsbc Holdings PLC now owns 21,086 shares of the scientific and technical instruments company’s stock worth $1,280,000 after buying an additional 17,547 shares in the last quarter. Hedge funds and other 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.