Itron (NASDAQ:ITRI) Earns Buy Rating from Analysts at Janney Montgomery Scott

Equities researchers at Janney Montgomery Scott assumed coverage on shares of Itron (NASDAQ:ITRI) in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm set a “buy” rating and a $131.00 price target on the scientific and technical instruments company’s stock. Janney Montgomery Scott’s price target points to a potential upside of 22.11% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Robert W. Baird increased their target price on Itron from $115.00 to $123.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Canaccord Genuity Group increased their price objective on shares of Itron from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. TD Cowen boosted their target price on shares of Itron from $115.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Roth Mkm reaffirmed a “buy” rating and set a $125.00 price target on shares of Itron in a research report on Wednesday, August 21st. Finally, 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 target on the stock. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.67.

Itron Price Performance

Itron stock opened at $107.28 on Friday. The firm’s 50-day moving average is $101.00 and its two-hundred day moving average is $99.83. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.16 and a quick ratio of 2.61. The stock has a market capitalization of $4.92 billion, a P/E ratio of 30.83, a P/E/G ratio of 0.90 and a beta of 1.47. Itron has a 12-month low of $56.11 and a 12-month high of $113.07.

Itron (NASDAQ:ITRI) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $599.25 million. Itron had a net margin of 7.98% and a return on equity of 16.42%. Itron’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 EPS. Equities analysts predict that Itron will post 4.59 earnings per share for the current year.

Insider Activity at Itron

In other Itron news, SVP Donald L. Reeves III sold 4,210 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the transaction, the senior vice president now owns 16,269 shares in the company, valued at $1,643,169. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Thomas Deitrich sold 887 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $90,607.05. Following the completion of the sale, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at approximately $20,968,943.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Donald L. Reeves III sold 4,210 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 16,269 shares in the company, valued at approximately $1,643,169. The disclosure for this sale can be found here. In the last three months, insiders sold 5,776 shares of company stock worth $584,721. Corporate insiders own 1.45% of the company’s stock.

Institutional Trading of Itron

Several large investors have recently modified their holdings of ITRI. Hexagon Capital Partners LLC boosted its holdings in Itron by 85.6% in the second quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock valued at $27,000 after purchasing an additional 125 shares during the last quarter. Contravisory Investment Management Inc. grew its position in shares of Itron by 61.5% during the first quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock worth $32,000 after buying an additional 131 shares in the last quarter. Quarry LP increased its stake in shares of Itron by 53.0% in the second quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock worth $35,000 after buying an additional 122 shares during the last quarter. GAMMA Investing LLC raised its holdings in Itron by 32.7% in the first quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock valued at $45,000 after acquiring an additional 121 shares in the last quarter. Finally, CWM LLC boosted its stake in Itron by 315.6% during the 2nd quarter. CWM LLC now owns 881 shares of the scientific and technical instruments company’s stock valued at $87,000 after acquiring an additional 669 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

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.