Itron (NASDAQ:ITRI) Given New $115.00 Price Target at TD Cowen

Itron (NASDAQ:ITRI) had its price objective boosted by TD Cowen from $110.00 to $115.00 in a research report sent to investors on Friday morning, Marketbeat.com reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

A number of other brokerages have also issued reports on ITRI. JPMorgan Chase & Co. lifted their price target on shares of Itron from $77.00 to $92.00 and gave the stock a neutral rating in a research note on Wednesday, March 13th. Robert W. Baird increased their price target on shares of Itron from $108.00 to $115.00 and gave the stock an outperform rating in a research report on Wednesday, March 13th. Canaccord Genuity Group raised Itron from a hold rating to a buy rating and boosted their price objective for the company from $68.00 to $105.00 in a report on Tuesday, February 27th. Roth Mkm reiterated a buy rating and issued a $102.00 target price on shares of Itron in a research report on Tuesday, April 23rd. Finally, Raymond James lowered Itron from an outperform rating to a market perform rating in a research report on Thursday, January 4th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $104.18.

Itron Stock Performance

Itron stock opened at $107.37 on Friday. Itron has a 12-month low of $56.11 and a 12-month high of $108.60. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.90 and a quick ratio of 1.40. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 30.85, a price-to-earnings-growth ratio of 1.16 and a beta of 1.38. The firm’s fifty day moving average price is $92.26 and its 200 day moving average price is $77.98.

Itron (NASDAQ:ITRI) last announced its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.39. Itron had a return on equity of 14.51% and a net margin of 7.03%. The business had revenue of $603.44 million for the quarter, compared to analyst estimates of $579.49 million. During the same period in the previous year, the company earned $0.49 earnings per share. The company’s revenue for the quarter was up 22.0% compared to the same quarter last year. On average, research analysts forecast that Itron will post 3.68 EPS for the current fiscal year.

Insider Activity at Itron

In other Itron news, SVP Donald L. Reeves III sold 383 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $28,866.71. Following the sale, the senior vice president now owns 8,708 shares in the company, valued at $656,321.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other 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 transaction, the senior vice president now owns 8,708 shares of the company’s stock, valued at $656,321.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas Deitrich sold 1,912 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $144,107.44. Following the transaction, the chief executive officer now directly owns 169,073 shares in the company, valued at $12,743,032.01. The disclosure for this sale can be found here. Insiders have sold a total of 30,467 shares of company stock worth $2,752,520 in the last ninety days. 1.45% of the stock is owned by insiders.

Institutional Trading of Itron

A number of institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP raised its holdings in Itron by 186.0% during the first quarter. Quantbot Technologies LP now owns 36,260 shares of the scientific and technical instruments company’s stock worth $3,355,000 after purchasing an additional 23,581 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings in shares of Itron by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 39,815 shares of the scientific and technical instruments company’s stock worth $3,684,000 after buying an additional 516 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Itron by 293.4% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,198 shares of the scientific and technical instruments company’s stock worth $388,000 after acquiring an additional 3,131 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Itron by 19.3% during the first quarter. Jennison Associates LLC now owns 5,625 shares of the scientific and technical instruments company’s stock valued at $520,000 after acquiring an additional 909 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Itron in the 1st quarter valued at approximately $346,000. 96.19% of the stock is 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.