Itron (NASDAQ:ITRI) PT Raised to $115.00 at Canaccord Genuity Group

Itron (NASDAQ:ITRI) had its price objective increased by Canaccord Genuity Group from $105.00 to $115.00 in a research note released on Friday morning, Benzinga reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

ITRI has been the subject of several other reports. Raymond James downgraded Itron from an outperform rating to a market perform rating in a research report on Thursday, January 4th. Canaccord Genuity Group upgraded Itron from a hold rating to a buy rating and boosted their price target for the company from $68.00 to $105.00 in a report on Tuesday, February 27th. Oppenheimer increased their price target on Itron from $100.00 to $110.00 and gave the stock an outperform rating in a research note on Friday. TD Cowen increased their price target on Itron from $110.00 to $115.00 and gave the stock a buy rating in a research note on Friday. Finally, Robert W. Baird increased their price target on Itron from $108.00 to $115.00 and gave the stock an outperform rating in a research note on Wednesday, March 13th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $104.18.

Itron Trading Up 0.3 %

Shares of Itron stock opened at $107.37 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.90 and a quick ratio of 1.40. Itron has a 1 year low of $56.11 and a 1 year high of $108.60. The company has a market capitalization of $4.93 billion, a P/E ratio of 30.85, a P/E/G ratio of 1.16 and a beta of 1.38. The business has a 50 day moving average price of $92.26 and a 200 day moving average price of $77.98.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.39. Itron had a return on equity of 14.51% and a net margin of 7.03%. The firm had revenue of $603.44 million during the quarter, compared to the consensus estimate of $579.49 million. During the same period in the previous year, the firm posted $0.49 EPS. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. Sell-side analysts anticipate that Itron will post 3.68 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Joan S. Hooper sold 1,560 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $117,577.20. Following the transaction, the chief financial officer now directly owns 60,141 shares of the company’s stock, valued at approximately $4,532,827.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Donald L. Reeves III sold 383 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $28,866.71. Following the completion of the sale, the senior vice president now directly owns 8,708 shares in the company, valued at approximately $656,321.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Joan S. Hooper sold 1,560 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $117,577.20. Following the completion of the sale, the chief financial officer now owns 60,141 shares of the company’s stock, valued at $4,532,827.17. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,467 shares of company stock valued at $2,752,520. 1.45% of the stock is currently owned by company insiders.

Institutional Trading of Itron

Large investors have recently added to or reduced their stakes in the stock. Contravisory Investment Management Inc. grew its stake in shares of Itron by 61.5% during the first quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock valued at $32,000 after acquiring an additional 131 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Itron during the 4th quarter valued at approximately $27,000. Covestor Ltd grew its position in shares of Itron by 9,150.0% during the third quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 549 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Itron in the fourth quarter worth $50,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Itron in the fourth quarter valued at $76,000. 96.19% of the stock is currently owned by institutional investors and hedge funds.

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.