Roth Mkm Issues Positive Forecast for Itron (NASDAQ:ITRI) Stock Price

Itron (NASDAQ:ITRI) had its target price upped by Roth Mkm from $125.00 to $130.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. Roth Mkm’s price objective indicates a potential upside of 16.45% from the company’s current price.

Other research analysts have also issued reports about the stock. BNP Paribas began coverage on shares of Itron in a report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price objective for the company. Guggenheim raised Itron from a “neutral” rating to a “buy” rating and set a $130.00 price objective on the stock in a research report on Thursday, July 11th. JPMorgan Chase & Co. raised their target price on Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Oppenheimer raised their price objective on Itron from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Robert W. Baird boosted their target price on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $123.50.

Itron Price Performance

Shares of ITRI stock traded down $0.12 during trading on Friday, hitting $111.64. The company had a trading volume of 595,314 shares, compared to its average volume of 519,338. Itron has a 52 week low of $58.88 and a 52 week high of $116.39. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 27.56, a price-to-earnings-growth ratio of 0.87 and a beta of 1.47. The company has a quick ratio of 2.61, a current ratio of 3.16 and a debt-to-equity ratio of 0.98. The stock’s 50-day moving average is $103.68 and its two-hundred day moving average is $102.41.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.71. Itron had a net margin of 7.98% and a return on equity of 16.42%. The firm had revenue of $615.46 million during the quarter, compared to analyst estimates of $596.41 million. During the same period in the previous year, the business posted $0.98 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, analysts predict that Itron will post 4.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Thomas Deitrich sold 37,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the completion of the sale, the chief executive officer now directly owns 205,276 shares in the company, valued at approximately $21,519,083.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Thomas Deitrich sold 37,500 shares of Itron stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the transaction, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at $21,519,083.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the sale, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at $1,643,169. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,276 shares of company stock worth $4,515,846. 1.45% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Itron

Several institutional investors and hedge funds have recently modified their holdings of ITRI. Vanguard Group Inc. lifted its stake in Itron by 0.8% in 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 purchasing an additional 45,909 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Itron by 62.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 899,789 shares of the scientific and technical instruments company’s stock worth $96,106,000 after acquiring an additional 346,615 shares in the last quarter. Select Equity Group L.P. boosted its position in shares of Itron by 86.2% during the 2nd quarter. Select Equity Group L.P. now owns 603,877 shares of the scientific and technical instruments company’s stock valued at $59,760,000 after acquiring an additional 279,629 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Itron by 2.2% in the first quarter. Janus Henderson Group PLC now owns 542,943 shares of the scientific and technical instruments company’s stock valued at $50,233,000 after purchasing an additional 11,918 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Itron by 90.7% in the third quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company’s stock worth $54,658,000 after purchasing an additional 243,355 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

Itron Company Profile

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.