Oppenheimer Boosts Itron (NASDAQ:ITRI) Price Target to $124.00

Itron (NASDAQ:ITRI) had its price objective hoisted by stock analysts at Oppenheimer from $120.00 to $124.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the scientific and technical instruments company’s stock. Oppenheimer’s price target suggests a potential upside of 10.90% from the stock’s previous close.

ITRI has been the subject of a number of other research reports. BNP Paribas assumed coverage on Itron in a research report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price target for the company. Piper Sandler upped their price target on shares of Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research report on Friday. Guggenheim upgraded shares of 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. Stephens restated an “equal weight” rating and issued a $110.00 target price on shares of Itron in a report on Monday, August 5th. Finally, Janney Montgomery Scott assumed coverage on Itron in a report on Friday, September 27th. They set a “buy” rating and a $131.00 price target on the stock. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $123.50.

Itron Trading Up 0.0 %

Shares of ITRI stock opened at $111.81 on Friday. The stock has a 50-day simple moving average of $103.88 and a 200 day simple moving average of $102.65. The stock has a market capitalization of $5.03 billion, a P/E ratio of 22.91, a P/E/G ratio of 0.94 and a beta of 1.46. The company has a quick ratio of 2.61, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. Itron has a fifty-two week low of $58.88 and a fifty-two week high of $116.39.

Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.71. Itron had a net margin of 9.37% and a return on equity of 19.03%. The firm had revenue of $615.46 million for the quarter, compared to analyst estimates of $596.41 million. During the same quarter in the previous year, the business posted $0.98 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts expect that Itron will post 4.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Itron

In other news, CEO Thomas Deitrich sold 37,500 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 205,276 shares in the company, valued at approximately $21,519,083.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Thomas Deitrich sold 37,500 shares of the company’s 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 completion of the sale, the chief executive officer now owns 205,276 shares in the company, valued at approximately $21,519,083.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Joan S. Hooper sold 509 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $51,994.35. Following the completion of the transaction, the chief financial officer now directly owns 72,338 shares in the company, valued at $7,389,326.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,276 shares of company stock worth $4,515,846 over the last ninety days. 1.45% of the stock is currently owned by insiders.

Institutional Trading of Itron

Several large investors have recently modified their holdings of the company. Commonwealth Equity Services LLC bought a new position in Itron in the 1st quarter worth $1,076,000. Jupiter Asset Management Ltd. bought a new position in shares of Itron in the first quarter worth about $2,029,000. Sculptor Capital LP acquired a new position in shares of Itron during the 2nd quarter worth about $5,255,000. UniSuper Management Pty Ltd bought a new stake in Itron during the 1st quarter valued at approximately $904,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Itron by 113.0% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 30,988 shares of the scientific and technical instruments company’s stock valued at $2,867,000 after buying an additional 16,441 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.