Itron (NASDAQ:ITRI) Price Target Raised to $145.00 at TD Cowen

Itron (NASDAQ:ITRI - Get Free Report) had its price target upped by equities researchers at TD Cowen from $139.00 to $145.00 in a research report issued on Friday, MarketBeat reports. The firm presently has a "buy" rating on the scientific and technical instruments company's stock. TD Cowen's price target points to a potential upside of 15.35% from the stock's current price.

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

Itron Stock Up 1.0%

Shares of NASDAQ ITRI opened at $125.70 on Friday. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 0.80 and a beta of 1.33. Itron has a 52-week low of $90.11 and a 52-week high of $126.05. The company's 50-day simple moving average is $112.93 and its 200-day simple moving average is $108.15. The company has a quick ratio of 1.65, a current ratio of 1.93 and a debt-to-equity ratio of 0.52.

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

Insider Activity

In related news, 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 value of $38,968.05. Following the completion of the transaction, the senior vice president now directly owns 19,468 shares in the company, valued at approximately $2,237,846.60. This trade represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mary C. Hemmingsen sold 5,150 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $108.70, for a total value of $559,805.00. Following the completion of the sale, the director now directly owns 952 shares in the company, valued at $103,482.40. This represents a 84.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,905 shares of company stock valued at $2,439,202. 1.45% of the stock is currently owned by company insiders.

Institutional Trading of Itron

Several hedge funds have recently added to or reduced their stakes in ITRI. Strs Ohio purchased a new stake in shares of Itron in the 1st quarter valued at approximately $430,000. Intech Investment Management LLC grew its stake in shares of Itron by 17.7% during the first quarter. Intech Investment Management LLC now owns 48,699 shares of the scientific and technical instruments company's stock worth $5,102,000 after purchasing an additional 7,336 shares in the last quarter. Bayforest Capital Ltd grew its stake in shares of Itron by 43.9% during the first quarter. Bayforest Capital Ltd now owns 3,980 shares of the scientific and technical instruments company's stock worth $417,000 after purchasing an additional 1,215 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Itron by 129.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 732,274 shares of the scientific and technical instruments company's stock valued at $76,713,000 after buying an additional 413,487 shares during the last quarter. Finally, Optimize Financial Inc raised its stake in Itron by 2.7% in the first quarter. Optimize Financial Inc now owns 17,570 shares of the scientific and technical instruments company's stock valued at $1,841,000 after buying an additional 463 shares in the last quarter. Institutional investors and hedge funds own 96.19% of the company's stock.

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.

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