Itron, Inc. (NASDAQ:ITRI) Receives $127.64 Consensus Target Price from Brokerages

Itron, Inc. (NASDAQ:ITRI) has been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $127.64.

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

Insider Activity at Itron

In other news, CAO David Marshall Wright sold 317 shares of the 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 completion of the transaction, the chief accounting officer now owns 8,108 shares of the company’s stock, valued at approximately $753,233.20. This represents a 3.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Joan S. Hooper sold 2,322 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $215,713.80. Following the transaction, the chief financial officer now directly owns 92,076 shares in the company, valued at approximately $8,553,860.40. The trade was a 2.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,037 shares of company stock worth $385,815 in the last ninety days. 1.45% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Itron in the 4th quarter worth approximately $64,615,000. Bowen Hanes & Co. Inc. purchased a new position in Itron in the 4th quarter worth about $27,486,000. Raiffeisen Bank International AG purchased a new position in Itron in the 4th quarter worth about $27,619,000. Franklin Resources Inc. raised its holdings in Itron by 611.9% during the 3rd quarter. Franklin Resources Inc. now owns 282,828 shares of the scientific and technical instruments company’s stock worth $31,128,000 after buying an additional 243,102 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Itron by 180.7% during the fourth quarter. Wellington Management Group LLP now owns 333,363 shares of the scientific and technical instruments company’s stock valued at $36,197,000 after buying an additional 214,600 shares in the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

Itron Stock Down 0.4 %

Shares of NASDAQ ITRI opened at $94.38 on Friday. 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 1 year low of $88.87 and a 1 year high of $124.90. The stock’s 50-day simple moving average is $103.59 and its 200-day simple moving average is $107.94. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 0.81 and a beta of 1.39.

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.