Skip to main content

Oppenheimer Lowers Itron (NASDAQ:ITRI) Price Target to $105.00

Tuesday, May 4, 2021 | MarketBeat

Itron (NASDAQ:ITRI) had its target price lowered by equities research analysts at Oppenheimer from $127.00 to $105.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an "outperform" rating on the scientific and technical instruments company's stock. Oppenheimer's target price indicates a potential upside of 22.92% from the stock's previous close.

A number of other equities research analysts also recently issued reports on ITRI. Zacks Investment Research downgraded shares of Itron from a "hold" rating to a "strong sell" rating and set a $123.00 price target on the stock. in a report on Friday, February 26th. Piper Sandler began coverage on Itron in a research report on Thursday, April 1st. They set an "overweight" rating and a $120.00 target price for the company. Canaccord Genuity lowered their price objective on shares of Itron from $140.00 to $126.00 and set a "buy" rating on the stock in a research report on Tuesday. Argus upgraded Itron from a "hold" rating to a "buy" rating and set a $140.00 price target on the stock in a research report on Tuesday, March 9th. Finally, Morgan Stanley started coverage on Itron in a report on Wednesday, March 31st. They set an "equal weight" rating and a $90.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of "Buy" and a consensus price target of $101.50.

Itron stock traded down $3.03 during trading on Tuesday, hitting $85.42. The stock had a trading volume of 1,241 shares, compared to its average volume of 569,260. The stock's 50 day moving average is $90.43 and its two-hundred day moving average is $89.97. Itron has a 1 year low of $50.87 and a 1 year high of $122.31. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of -52.92 and a beta of 1.18. The company has a quick ratio of 1.95, a current ratio of 2.30 and a debt-to-equity ratio of 1.65.

Itron (NASDAQ:ITRI) last posted its earnings results on Monday, May 3rd. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.10. The firm had revenue of $519.60 million during the quarter, compared to the consensus estimate of $547.37 million. Itron had a negative net margin of 2.85% and a positive return on equity of 9.74%. The company's revenue was down 13.2% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share. As a group, equities research analysts anticipate that Itron will post 1.48 EPS for the current fiscal year.

In related news, SVP Michel Cadieux sold 6,316 shares of the stock in a transaction that occurred on Wednesday, February 24th. The shares were sold at an average price of $95.25, for a total transaction of $601,599.00. Following the transaction, the senior vice president now owns 29,542 shares in the company, valued at $2,813,875.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.72% of the company's stock.

Large investors have recently modified their holdings of the company. BlackRock Inc. increased its holdings in Itron by 6.2% during the fourth quarter. BlackRock Inc. now owns 6,167,292 shares of the scientific and technical instruments company's stock valued at $591,444,000 after buying an additional 360,091 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Itron by 93.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,690,335 shares of the scientific and technical instruments company's stock valued at $162,104,000 after purchasing an additional 814,324 shares during the period. UBS Asset Management Americas Inc. increased its position in Itron by 49.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 876,706 shares of the scientific and technical instruments company's stock worth $84,076,000 after buying an additional 290,137 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Itron by 39.2% during the 1st quarter. Victory Capital Management Inc. now owns 832,468 shares of the scientific and technical instruments company's stock valued at $73,798,000 after acquiring an additional 234,533 shares during the period. Finally, Robeco Schweiz AG raised its stake in Itron by 41.4% during the 1st quarter. Robeco Schweiz AG now owns 810,000 shares of the scientific and technical instruments company's stock worth $71,807,000 after acquiring an additional 237,000 shares during the period. Hedge funds and other institutional investors own 96.45% of the company's stock.

About Itron

Itron, Inc, a technology and service company, provides end-to-end solutions that help manage operations in the energy, water, and smart city space worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.

Further Reading: What is the S&P 500 Index?

Analyst Recommendations for Itron (NASDAQ:ITRI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: What is Forex?

7 Things You Need To Know About Cryptocurrency

The Cryptocurrency Market Is About To Boil Over

The cryptocurrency was quiet for years, but it’s starting to boil over once again. With the price of Bitcoin up 550%, it certainly seems like the sky is the limit.

Whether or not you choose to trade Bitcoin or any other cryptocurrency, it is important to understand what it is and the trends driving it.

The bottom line, however, is that the world’s money is flowing onto the blockchain, and the use of cryptocurrency is growing at an exponential rate.

View the "7 Things You Need To Know About Cryptocurrency".

MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.