Piper Sandler Lowers Itron (NASDAQ:ITRI) Price Target to $121.00

Itron (NASDAQ:ITRI - Get Free Report) had its price target dropped by equities researchers at Piper Sandler from $124.00 to $121.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the scientific and technical instruments company's stock. Piper Sandler's price objective would indicate a potential upside of 12.15% from the company's previous close.

A number of other analysts have also recently issued reports on the company. Guggenheim restated a "buy" rating and set a $133.00 price objective on shares of Itron in a research report on Thursday, April 17th. Canaccord Genuity Group boosted their price target on shares of Itron from $130.00 to $132.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. StockNews.com downgraded shares of Itron from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 1st. Finally, Oppenheimer upped their target price on shares of Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $127.36.

Itron Stock Performance

Shares of ITRI traded down $0.34 during mid-day trading on Monday, hitting $107.89. The company's stock had a trading volume of 128,500 shares, compared to its average volume of 566,957. The stock's 50-day moving average is $104.37 and its two-hundred day moving average is $107.48. The firm has a market capitalization of $4.92 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 0.81 and a beta of 1.31. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. Itron has a one year low of $90.11 and a one year high of $124.90.

Itron (NASDAQ:ITRI - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.30 by $0.22. The firm had revenue of $607.15 million during the quarter, compared to the consensus estimate of $608.86 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. The business's revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 EPS. As a group, sell-side analysts anticipate that Itron will post 5.33 EPS for the current year.

Insider Transactions at Itron

In other Itron news, CAO David Marshall Wright sold 317 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $29,449.30. Following the transaction, the chief accounting officer now owns 8,108 shares of the company's stock, valued at approximately $753,233.20. The trade was a 3.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joan S. Hooper sold 2,322 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $215,713.80. Following the completion of the sale, the chief financial officer now owns 92,076 shares of the company's stock, valued at approximately $8,553,860.40. This trade represents a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,037 shares of company stock valued at $385,815. Corporate insiders own 1.45% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ITRI. Louisiana State Employees Retirement System raised its stake in shares of Itron by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 21,800 shares of the scientific and technical instruments company's stock worth $2,367,000 after acquiring an additional 100 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Itron by 0.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,795 shares of the scientific and technical instruments company's stock worth $1,759,000 after purchasing an additional 121 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in Itron by 6.1% during the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,185 shares of the scientific and technical instruments company's stock worth $237,000 after buying an additional 125 shares in the last quarter. CoreCap Advisors LLC boosted its position in Itron by 25.5% in the 4th quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company's stock valued at $67,000 after buying an additional 125 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of Itron by 6.3% in the 4th quarter. Captrust Financial Advisors now owns 2,144 shares of the scientific and technical instruments company's stock valued at $233,000 after buying an additional 128 shares during the period. 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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