Robert W. Baird Increases Itron (NASDAQ:ITRI) Price Target to $123.00

Itron (NASDAQ:ITRI) had its price target lifted by research analysts at Robert W. Baird from $115.00 to $123.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the scientific and technical instruments company’s stock. Robert W. Baird’s price target indicates a potential upside of 19.82% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Roth Mkm lifted their target price on shares of Itron from $112.00 to $122.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Piper Sandler lifted their price target on shares of Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. StockNews.com downgraded shares of Itron from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 28th. Guggenheim raised shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 target price for the company in a research report on Thursday, July 11th. Finally, Stephens lifted their price target on Itron from $85.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, May 6th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Itron presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.73.

Itron Trading Down 5.0 %

Shares of ITRI stock traded down $5.44 during trading hours on Friday, hitting $102.65. The company had a trading volume of 231,628 shares, compared to its average volume of 514,213. The company’s fifty day moving average is $103.56 and its 200 day moving average is $93.84. 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 fifty-two week low of $56.11 and a fifty-two week high of $113.07. The stock has a market capitalization of $4.71 billion, a PE ratio of 29.50, a price-to-earnings-growth ratio of 0.97 and a beta of 1.45.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Thursday, August 1st. The scientific and technical instruments company reported $1.21 EPS for the quarter, topping the consensus estimate of $0.96 by $0.25. The firm had revenue of $609.07 million for the quarter, compared to analyst estimates of $599.25 million. Itron had a net margin of 7.03% and a return on equity of 14.51%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 EPS. Research analysts expect that Itron will post 4.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Itron

In related news, CEO Thomas Deitrich sold 873 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $108.87, for a total value of $95,043.51. Following the sale, the chief executive officer now owns 206,163 shares of the company’s stock, valued at approximately $22,444,965.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Itron news, CEO Thomas Deitrich sold 873 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $108.87, for a total transaction of $95,043.51. Following the transaction, the chief executive officer now owns 206,163 shares of the company’s stock, valued at approximately $22,444,965.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Joan S. Hooper sold 501 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $108.87, for a total value of $54,543.87. Following the completion of the transaction, the chief financial officer now directly owns 72,847 shares in the company, valued at approximately $7,930,852.89. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,775 shares of company stock worth $192,613. 1.45% of the stock is owned by insiders.

Institutional Investors Weigh In On Itron

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Itron by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 5,701,337 shares of the scientific and technical instruments company’s stock worth $527,488,000 after acquiring an additional 45,909 shares during the period. Dimensional Fund Advisors LP lifted its stake in Itron by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,681,573 shares of the scientific and technical instruments company’s stock valued at $126,978,000 after buying an additional 51,874 shares during the period. Vontobel Holding Ltd. grew its position in shares of Itron by 16.0% during the 4th quarter. Vontobel Holding Ltd. now owns 804,648 shares of the scientific and technical instruments company’s stock worth $60,759,000 after buying an additional 110,849 shares during the period. Janus Henderson Group PLC grew its position in shares of Itron by 2.2% during the 1st quarter. Janus Henderson Group PLC now owns 542,943 shares of the scientific and technical instruments company’s stock worth $50,233,000 after buying an additional 11,918 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Itron by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 518,157 shares of the scientific and technical instruments company’s stock valued at $39,126,000 after acquiring an additional 15,157 shares during the last quarter. 96.19% of the stock is owned by institutional investors.

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.