Itron (NASDAQ:ITRI) Earns Outperform Rating from Analysts at BNP Paribas

BNP Paribas assumed coverage on shares of Itron (NASDAQ:ITRI) in a research report sent to investors on Thursday morning, MarketBeat reports. The firm issued an outperform rating and a $133.00 target price on the scientific and technical instruments company’s stock.

Several other equities research analysts also recently issued reports on ITRI. Piper Sandler raised their price target on Itron from $109.00 to $110.00 and gave the stock a neutral rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. raised their target price on shares of Itron from $104.00 to $112.00 and gave the stock a neutral rating in a report on Tuesday, July 16th. TD Cowen upped their price target on shares of Itron from $115.00 to $125.00 and gave the company a buy rating in a report on Friday, August 2nd. Canaccord Genuity Group raised 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. Finally, Oppenheimer upped their target price on shares of Itron from $110.00 to $112.00 and gave the stock an outperform rating in a research note on Wednesday, July 17th. Four investment 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 stock currently has an average rating of Moderate Buy and an average target price of $118.64.

Itron Stock Performance

Shares of NASDAQ:ITRI opened at $96.74 on Thursday. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 27.80, a P/E/G ratio of 0.86 and a beta of 1.45. The firm’s 50 day simple moving average is $100.45 and its 200 day simple moving average is $98.46. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.16 and a quick ratio of 2.61. Itron has a fifty-two week low of $56.11 and a fifty-two week high of $113.07.

Itron (NASDAQ:ITRI) last posted its earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.25. Itron had a net margin of 7.98% and a return on equity of 16.42%. The company had revenue of $609.07 million for the quarter, compared to analyst estimates of $599.25 million. During the same period last year, the business posted $0.65 earnings per share. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Itron will post 4.59 earnings per share for the current year.

Insider Activity

In related news, CEO Thomas Deitrich sold 887 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $90,607.05. Following the sale, the chief executive officer now owns 205,276 shares in the company, valued at $20,968,943.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Itron news, CEO Thomas Deitrich sold 887 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $90,607.05. Following the transaction, the chief executive officer now owns 205,276 shares of the company’s stock, valued at approximately $20,968,943.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joan S. Hooper sold 509 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $51,994.35. Following the completion of the sale, the chief financial officer now directly owns 72,338 shares of the company’s stock, valued at approximately $7,389,326.70. The disclosure for this sale can be found here. Insiders sold 5,776 shares of company stock worth $584,721 in the last quarter. Corporate insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in Itron by 32.7% during the first quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock worth $45,000 after purchasing an additional 121 shares during the period. Quarry LP boosted its stake in shares of Itron by 53.0% during the 2nd quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock worth $35,000 after acquiring an additional 122 shares during the period. Hexagon Capital Partners LLC increased its holdings in shares of Itron by 85.6% during the 2nd quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock worth $27,000 after acquiring an additional 125 shares during the last quarter. Contravisory Investment Management Inc. raised its stake in Itron by 61.5% in the 1st quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock valued at $32,000 after acquiring an additional 131 shares during the period. Finally, Natixis Advisors L.P. lifted its holdings in Itron by 0.4% during the 4th quarter. Natixis Advisors L.P. now owns 31,458 shares of the scientific and technical instruments company’s stock valued at $2,375,000 after purchasing an additional 139 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

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.