Itron (NASDAQ:ITRI) Price Target Raised to $132.00 at Canaccord Genuity Group

Itron (NASDAQ:ITRI) had its price target increased by stock analysts at Canaccord Genuity Group from $130.00 to $132.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. Canaccord Genuity Group’s price objective points to a potential upside of 21.79% from the company’s current price.

A number of other brokerages have also recently commented on ITRI. Guggenheim upped their price target on shares of Itron from $128.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Oppenheimer increased their target price on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research report on Wednesday. Roth Mkm lifted their price target on Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 1st. TD Cowen increased their price objective on Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Robert W. Baird lifted their target price on Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $125.50.

Itron Stock Performance

ITRI traded up $6.58 during trading hours on Wednesday, hitting $108.39. The stock had a trading volume of 486,409 shares, compared to its average volume of 594,286. The stock has a market cap of $4.89 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 0.81 and a beta of 1.46. Itron has a 1 year low of $86.13 and a 1 year high of $124.90. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The company’s fifty day simple moving average is $104.99 and its 200 day simple moving average is $106.84.

Insider Buying and Selling

In other news, SVP Christopher E. Ware sold 648 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $60,199.20. Following the completion of the sale, the senior vice president now directly owns 20,326 shares in the company, valued at approximately $1,888,285.40. This represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Joan S. Hooper sold 2,322 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $215,713.80. Following the completion of the sale, the chief financial officer now owns 92,076 shares of the company’s stock, valued at approximately $8,553,860.40. This trade represents a 2.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,287 shares of company stock worth $305,362 in the last quarter. 1.45% of the stock is owned by insiders.

Institutional Investors Weigh In On Itron

Several institutional investors and hedge funds have recently modified their holdings of ITRI. GeoWealth Management LLC boosted its position in shares of Itron by 4,580.0% during the fourth quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 229 shares in the last quarter. Continuum Advisory LLC raised its position in shares of Itron by 42.1% in the 3rd quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock worth $40,000 after purchasing an additional 102 shares during the last quarter. Quarry LP lifted its stake in shares of Itron by 29.0% in the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock worth $48,000 after buying an additional 102 shares in the last quarter. Covestor Ltd raised its holdings in Itron by 26.1% in the 3rd quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock worth $57,000 after acquiring an additional 111 shares during the last quarter. Finally, CoreCap Advisors LLC increased its holdings in shares of Itron by 25.5% in the 4th quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company’s stock worth $67,000 after purchasing an additional 125 shares in the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

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.