Itron (NASDAQ:ITRI) Price Target Raised to $131.00

Itron (NASDAQ:ITRI) had its price objective raised by Oppenheimer from $124.00 to $131.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the scientific and technical instruments company’s stock.

ITRI has been the topic of several other research reports. TD Cowen increased their target price on Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Roth Mkm increased their target price on Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Guggenheim increased their target price on Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Robert W. Baird increased their target price on Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, StockNews.com upgraded Itron from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.64.

Itron Price Performance

Shares of NASDAQ ITRI opened at $108.89 on Wednesday. The stock has a fifty day simple moving average of $104.96 and a two-hundred day simple moving average of $106.85. Itron has a 1-year low of $86.13 and a 1-year high of $124.90. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 0.81 and a beta of 1.46. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91.

Insider Buying and Selling

In other Itron news, Director Mary C. Hemmingsen sold 750 shares of Itron stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $107.27, for a total transaction of $80,452.50. Following the completion of the sale, the director now owns 5,630 shares of the company’s stock, valued at $603,930.10. The trade was a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO David Marshall Wright sold 317 shares of Itron stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $29,449.30. Following the sale, the chief accounting officer now directly owns 8,108 shares of the company’s stock, valued at approximately $753,233.20. This trade represents a 3.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,037 shares of company stock worth $385,815. Corporate insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Itron

Hedge funds have recently added to or reduced their stakes in the company. Intech Investment Management LLC lifted its stake in Itron by 105.9% during the third quarter. Intech Investment Management LLC now owns 19,444 shares of the scientific and technical instruments company’s stock worth $2,077,000 after purchasing an additional 10,001 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Itron by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock valued at $114,835,000 after acquiring an additional 5,630 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Itron by 78.3% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 6,083 shares of the scientific and technical instruments company’s stock valued at $660,000 after acquiring an additional 2,671 shares during the last quarter. Beacon Harbor Wealth Advisors Inc. bought a new stake in shares of Itron in the 3rd quarter valued at about $5,994,000. Finally, Systematic Financial Management LP lifted its stake in shares of Itron by 12.2% in the 3rd quarter. Systematic Financial Management LP now owns 134,362 shares of the scientific and technical instruments company’s stock valued at $14,351,000 after acquiring an additional 14,590 shares during the last quarter. Institutional investors 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.