Analysts Set Itron, Inc. (NASDAQ:ITRI) Price Target at $127.64

Itron, Inc. (NASDAQ:ITRI) has earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $127.64.

A number of brokerages recently issued reports on ITRI. StockNews.com lowered shares of Itron from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 1st. Guggenheim cut their price target on shares of Itron from $135.00 to $133.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Piper Sandler increased their price objective on Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Canaccord Genuity Group lifted their target price on Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Finally, Oppenheimer increased their price target on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th.

Insider Buying and Selling at Itron

In other news, SVP Christopher E. Ware sold 648 shares of Itron stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $60,199.20. Following the completion of the sale, the senior vice president now owns 20,326 shares in the company, valued at $1,888,285.40. The trade was a 3.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Joan S. Hooper sold 2,322 shares of the stock in a transaction 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 directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 4,037 shares of company stock valued at $385,815. 1.45% of the stock is currently owned by company insiders.

Institutional Trading of Itron

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ITRI. Wealth Enhancement Advisory Services LLC bought a new position in Itron in the third quarter worth approximately $223,000. Farther Finance Advisors LLC lifted its holdings in shares of Itron by 21.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock worth $77,000 after purchasing an additional 129 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Itron by 1.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 11,425 shares of the scientific and technical instruments company’s stock valued at $1,220,000 after purchasing an additional 190 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in Itron during the 3rd quarter valued at $473,000. Finally, Principal Financial Group Inc. raised its holdings in Itron by 4.5% during the third quarter. Principal Financial Group Inc. now owns 248,077 shares of the scientific and technical instruments company’s stock worth $26,497,000 after buying an additional 10,677 shares during the last quarter. 96.19% of the stock is owned by institutional investors.

Itron Price Performance

Shares of ITRI opened at $104.57 on Tuesday. The business has a 50-day simple moving average of $104.06 and a two-hundred day simple moving average of $107.43. Itron has a 12-month low of $86.45 and a 12-month high of $124.90. The stock has a market cap of $4.72 billion, a PE ratio of 21.43, a PEG ratio of 0.81 and a beta of 1.49. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

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.