Itron, Inc. (NASDAQ:ITRI) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Itron, Inc. (NASDAQ:ITRI) have earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $127.64.

A number of research analysts recently commented on the stock. Guggenheim lowered their price target on shares of Itron from $135.00 to $133.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Piper Sandler raised their price objective on Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Canaccord Genuity Group boosted their target price on Itron from $130.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Oppenheimer raised their price target on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Finally, StockNews.com cut shares of Itron from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 1st.

Insider Transactions at Itron

In other Itron news, CFO Joan S. Hooper sold 2,322 shares of the company’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 $215,713.80. Following the completion of the sale, the chief financial officer now directly owns 92,076 shares in the company, valued at approximately $8,553,860.40. This represents a 2.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary C. Hemmingsen sold 750 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $107.27, for a total value of $80,452.50. Following the transaction, the director now owns 5,630 shares in the company, valued at approximately $603,930.10. This represents a 11.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,037 shares of company stock worth $385,815. Insiders own 1.45% of the company’s stock.

Institutional Trading of Itron

Hedge funds have recently added to or reduced their stakes in the business. GeoWealth Management LLC raised its holdings in shares of Itron by 4,580.0% in the 4th quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 229 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Itron during the fourth quarter valued at approximately $30,000. Continuum Advisory LLC raised its stake in Itron by 42.1% in the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock worth $40,000 after buying an additional 102 shares in the last quarter. Quarry LP lifted its holdings in Itron by 29.0% during the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock worth $48,000 after buying an additional 102 shares during the period. Finally, Hager Investment Management Services LLC bought a new stake in Itron during the 4th quarter valued at $67,000. 96.19% of the stock is owned by hedge funds and other institutional investors.

Itron Price Performance

ITRI stock opened at $101.00 on Friday. Itron has a 52 week low of $88.87 and a 52 week high of $124.90. The firm has a market capitalization of $4.60 billion, a P/E ratio of 20.70, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39. The company has a fifty day simple moving average of $102.47 and a two-hundred day simple moving average of $107.53. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

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.