TD Cowen Issues Positive Forecast for Itron (NASDAQ:ITRI) Stock Price

Itron (NASDAQ:ITRI - Free Report) had its price objective upped by TD Cowen from $139.00 to $145.00 in a research report sent to investors on Friday, MarketBeat Ratings reports. TD Cowen currently has a buy rating on the scientific and technical instruments company's stock.

ITRI has been the subject of several other research reports. Piper Sandler dropped their price target on shares of Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Canaccord Genuity Group raised their price objective on shares of Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Wall Street Zen lowered shares of Itron from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. Oppenheimer raised their price objective on shares of Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Finally, Guggenheim reaffirmed a "buy" rating and set a $133.00 price objective on shares of Itron in a report on Thursday, April 17th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $128.18.

Itron Price Performance

NASDAQ:ITRI traded up $3.01 during mid-day trading on Friday, hitting $130.81. The company's stock had a trading volume of 852,660 shares, compared to its average volume of 565,474. Itron has a fifty-two week low of $90.11 and a fifty-two week high of $131.02. The company has a current ratio of 1.93, a quick ratio of 1.65 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 23.87, a P/E/G ratio of 0.81 and a beta of 1.33. The stock has a fifty day moving average of $114.06 and a 200-day moving average of $108.20.

Itron (NASDAQ:ITRI - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.22. Itron had a net margin of 10.34% and a return on equity of 19.65%. The firm had revenue of $607.15 million during the quarter, compared to analyst estimates of $608.86 million. During the same quarter in the prior year, the business posted $1.24 earnings per share. The company's quarterly revenue was up .6% compared to the same quarter last year. As a group, equities analysts forecast that Itron will post 5.33 EPS for the current fiscal year.

Insider Activity at Itron

In other news, SVP Justin K. Patrick sold 9,036 shares of Itron stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $121.77, for a total transaction of $1,100,313.72. Following the transaction, the senior vice president now directly owns 21,149 shares of the company's stock, valued at $2,575,313.73. This trade represents a 29.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Christopher E. Ware sold 339 shares of Itron stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total transaction of $38,968.05. Following the transaction, the senior vice president now directly owns 19,468 shares in the company, valued at approximately $2,237,846.60. This represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,905 shares of company stock valued at $2,439,202 over the last quarter. Corporate insiders own 1.51% of the company's stock.

Hedge Funds Weigh In On Itron

Hedge funds and other institutional investors have recently made changes to their positions in the company. GeoWealth Management LLC boosted its position in shares of Itron by 4,580.0% during the fourth quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company's stock worth $25,000 after purchasing an additional 229 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Itron during the first quarter worth $45,000. CoreCap Advisors LLC raised its holdings in shares of Itron by 25.5% during the fourth quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company's stock worth $67,000 after acquiring an additional 125 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Itron by 347.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company's stock worth $97,000 after acquiring an additional 688 shares during the period. Finally, Quarry LP raised its holdings in shares of Itron by 155.6% during the first quarter. Quarry LP now owns 910 shares of the scientific and technical instruments company's stock worth $95,000 after acquiring an additional 554 shares during the period. 96.19% of the stock is owned by institutional investors.

About Itron

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.