Itron (NASDAQ:ITRI) Price Target Raised to $125.00 at TD Cowen

Itron (NASDAQ:ITRI) had its price target boosted by TD Cowen from $115.00 to $125.00 in a report published on Friday morning, MarketBeat reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

A number of other research firms have also recently commented on ITRI. Stephens boosted their price target on shares of Itron from $85.00 to $110.00 and gave the stock an equal weight rating in a research note on Monday, May 6th. Roth Mkm upped their price objective on shares of Itron from $112.00 to $122.00 and gave the company a buy rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. upped their price objective on shares of Itron from $104.00 to $112.00 and gave the company a neutral rating in a research note on Tuesday, July 16th. StockNews.com cut shares of Itron from a strong-buy rating to a buy rating in a research note on Friday, June 28th. Finally, Piper Sandler upped their price objective on shares of Itron from $109.00 to $110.00 and gave the company a neutral rating in a research note on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Itron currently has an average rating of Moderate Buy and an average target price of $114.00.

Itron Price Performance

Shares of NASDAQ:ITRI opened at $97.39 on Friday. The company has a 50 day moving average of $103.39 and a 200 day moving average of $94.38. The stock has a market cap of $4.47 billion, a P/E ratio of 27.99, a P/E/G ratio of 0.91 and a beta of 1.45. Itron has a 12 month low of $56.11 and a 12 month high of $113.07. The company has a current ratio of 3.16, a quick ratio of 1.40 and a debt-to-equity ratio of 0.98.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Thursday, August 1st. The scientific and technical instruments company reported $1.21 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $599.25 million. During the same quarter in the previous year, the company earned $0.65 earnings per share. Itron’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, sell-side analysts forecast that Itron will post 4.55 EPS for the current fiscal year.

Insider Transactions at Itron

In other Itron news, CEO Thomas Deitrich sold 873 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $108.87, for a total transaction of $95,043.51. Following the sale, the chief executive officer now owns 206,163 shares in the company, valued at approximately $22,444,965.81. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Christopher E. Ware sold 311 shares of Itron stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $106.84, for a total transaction of $33,227.24. Following the sale, the senior vice president now owns 15,371 shares in the company, valued at $1,642,237.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Thomas Deitrich sold 873 shares of Itron stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $108.87, for a total transaction of $95,043.51. Following the sale, the chief executive officer now owns 206,163 shares in the company, valued at approximately $22,444,965.81. The disclosure for this sale can be found here. Insiders have sold 1,775 shares of company stock worth $192,613 in the last quarter. Company insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Itron

Institutional investors and hedge funds have recently modified their holdings of the stock. Hexagon Capital Partners LLC raised its position in shares of Itron by 85.6% during 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 buying an additional 125 shares during the last quarter. Contravisory Investment Management Inc. raised 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 valued at $32,000 after buying an additional 131 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Itron during the fourth quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Itron in the fourth quarter valued at $50,000. Finally, CWM LLC grew its holdings in shares of Itron by 315.6% in the second quarter. CWM LLC now owns 881 shares of the scientific and technical instruments company’s stock valued at $87,000 after purchasing an additional 669 shares in the last quarter. Institutional investors 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.