Oppenheimer Forecasts Strong Price Appreciation for Itron (NASDAQ:ITRI) Stock

Itron (NASDAQ:ITRI) had its price target boosted by equities research analysts at Oppenheimer from $124.00 to $131.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the scientific and technical instruments company’s stock. Oppenheimer’s price target would suggest a potential upside of 22.56% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Robert W. Baird upped their price objective on Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Piper Sandler increased their price target on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. StockNews.com raised Itron from a “buy” rating to a “strong-buy” rating in a report on Friday, February 21st. Guggenheim increased their price objective on Itron from $128.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, TD Cowen increased their price objective on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.64.

Itron Price Performance

Shares of ITRI stock opened at $106.89 on Wednesday. Itron has a twelve month low of $86.13 and a twelve month high of $124.90. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 21.90, a P/E/G ratio of 0.81 and a beta of 1.46. The stock has a fifty day simple moving average of $104.98 and a two-hundred day simple moving average of $106.85. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91.

Insiders Place Their Bets

In other Itron news, 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 transaction of $215,713.80. Following the transaction, the chief financial officer now owns 92,076 shares in the company, valued at approximately $8,553,860.40. This represents a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Christopher E. Ware sold 648 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 $60,199.20. Following the transaction, the senior vice president now owns 20,326 shares in the company, valued at $1,888,285.40. This represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,287 shares of company stock worth $305,362. 1.45% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Itron

Hedge funds have recently bought and sold shares of the business. GeoWealth Management LLC boosted its position in 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 worth $25,000 after purchasing an additional 229 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Itron in the fourth quarter valued at approximately $30,000. Continuum Advisory LLC lifted its position in shares of Itron by 42.1% in the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock valued at $40,000 after acquiring an additional 102 shares in the last quarter. Quarry LP lifted its position 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 valued at $48,000 after acquiring an additional 102 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of Itron by 26.1% in the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock valued at $57,000 after acquiring an additional 111 shares in the last quarter. Hedge funds and other 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.