Itron, Inc. (NASDAQ:ITRI) Receives Average Rating of “Moderate Buy” from Analysts

Itron, Inc. (NASDAQ:ITRI) has been given an average rating of “Moderate Buy” by the thirteen ratings firms that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $123.92.

Several brokerages have weighed in on ITRI. Piper Sandler upped their price objective on shares of Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Roth Mkm raised their price target on Itron from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. Guggenheim lifted their price objective on Itron from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. BNP Paribas initiated coverage on Itron in a report on Thursday, September 5th. They set an “outperform” rating and a $133.00 target price on the stock. Finally, Oppenheimer lifted their price target on Itron from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, November 1st.

Itron Trading Up 1.4 %

Shares of ITRI opened at $110.45 on Thursday. 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 stock has a market cap of $4.98 billion, a PE ratio of 22.63, a PEG ratio of 0.86 and a beta of 1.46. Itron has a 1 year low of $67.21 and a 1 year high of $124.90. The stock has a 50 day simple moving average of $113.20 and a 200-day simple moving average of $105.96.

Itron (NASDAQ:ITRI) last released its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.71. Itron had a return on equity of 19.03% and a net margin of 9.37%. The firm had revenue of $615.46 million during the quarter, compared to analyst estimates of $596.41 million. During the same period in the prior year, the company posted $0.98 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts predict that Itron will post 5.33 EPS for the current fiscal year.

Insider Buying and Selling at Itron

In other news, CEO Thomas Deitrich sold 37,500 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total value of $3,931,125.00. Following the completion of the sale, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at $21,519,083.08. This represents a 15.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP grew its stake in Itron by 53.0% in the second quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock valued at $35,000 after acquiring an additional 122 shares during the period. Continuum Advisory LLC raised its holdings in Itron by 42.1% during the 3rd quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock worth $40,000 after buying an additional 102 shares during the period. Covestor Ltd lifted its stake in Itron by 26.1% in the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock valued at $57,000 after buying an additional 111 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Itron by 21.7% in the third quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock valued at $77,000 after buying an additional 129 shares during the period. Finally, Truvestments Capital LLC acquired a new stake in shares of Itron during the third quarter worth $103,000. Institutional investors own 96.19% of the company’s stock.

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.