Guggenheim Cuts Itron (NASDAQ:ITRI) Price Target to $133.00

Itron (NASDAQ:ITRI) had its price target trimmed by Guggenheim from $135.00 to $133.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has a buy rating on the scientific and technical instruments company’s stock.

Several other research analysts have also weighed in on the stock. Oppenheimer increased their price objective on shares of Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a report on Wednesday. Roth Mkm increased their price objective on shares of Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Piper Sandler raised their price target on shares of Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday. TD Cowen raised their price target on shares of Itron from $125.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, StockNews.com upgraded shares of Itron from a “buy” rating to a “strong-buy” rating in a report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.64.

Itron Price Performance

NASDAQ:ITRI opened at $108.89 on Thursday. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 0.81 and a beta of 1.46. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. The company’s 50-day moving average is $104.96 and its two-hundred day moving average is $106.95. Itron has a 12-month low of $86.13 and a 12-month high of $124.90.

Insider Buying and Selling at Itron

In other news, CFO Joan S. Hooper sold 2,322 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO David Marshall Wright sold 317 shares of the firm’s 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 $29,449.30. Following the sale, the chief accounting officer now directly owns 8,108 shares of the company’s stock, valued at $753,233.20. The trade was a 3.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,037 shares of company stock valued at $385,815 over the last 90 days. 1.45% of the stock is owned by corporate insiders.

Institutional Trading of Itron

Hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System lifted its stake in Itron by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 21,800 shares of the scientific and technical instruments company’s stock worth $2,367,000 after purchasing an additional 100 shares during the last quarter. Quarry LP lifted its stake in Itron by 29.0% during the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock worth $48,000 after purchasing an additional 102 shares during the last quarter. Continuum Advisory LLC lifted its stake in Itron by 42.1% during the third 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. Stifel Financial Corp lifted its stake in Itron by 2.2% during the third quarter. Stifel Financial Corp now owns 4,921 shares of the scientific and technical instruments company’s stock worth $526,000 after purchasing an additional 108 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Itron by 26.1% during the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock worth $57,000 after purchasing an additional 111 shares during the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

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.