Guggenheim Reiterates Buy Rating for Itron (NASDAQ:ITRI)

Itron (NASDAQ:ITRI)‘s stock had its “buy” rating reissued by analysts at Guggenheim in a research note issued to investors on Thursday,Benzinga reports. They presently have a $133.00 price objective on the scientific and technical instruments company’s stock. Guggenheim’s price objective would suggest a potential upside of 28.80% from the stock’s previous close.

A number of other brokerages also recently weighed in on ITRI. Piper Sandler increased their price target on shares of Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Oppenheimer lifted their price target on shares of Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. StockNews.com cut shares of Itron from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 1st. Finally, Canaccord Genuity Group lifted their target price on Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $127.64.

Itron Price Performance

Shares of ITRI stock opened at $103.26 on Thursday. The firm’s 50 day moving average price is $102.16 and its two-hundred day moving average price is $107.41. The stock has a market cap of $4.71 billion, a PE ratio of 21.16, a PEG ratio of 0.81 and a beta of 1.39. Itron has a 52-week low of $88.92 and a 52-week high of $124.90. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36.

Insider Activity at Itron

In other news, Director Mary C. Hemmingsen sold 750 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $603,930.10. The trade was a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Christopher E. Ware sold 648 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $60,199.20. Following the completion of the sale, the senior vice president now owns 20,326 shares of the company’s stock, valued at $1,888,285.40. This trade represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,037 shares of company stock worth $385,815. Company insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ITRI. GeoWealth Management LLC grew its position in Itron by 4,580.0% in the fourth quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company’s stock valued at $25,000 after acquiring an additional 229 shares during the last quarter. CoreCap Advisors LLC raised its stake in shares of Itron by 25.5% during the fourth quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company’s stock valued at $67,000 after acquiring an additional 125 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in shares of Itron during the fourth quarter worth $67,000. Contravisory Investment Management Inc. grew its stake in shares of Itron by 154.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company’s stock worth $94,000 after purchasing an additional 525 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Itron by 347.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company’s stock valued at $97,000 after purchasing an additional 688 shares during the period. 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.