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

Shares of Itron, Inc. (NASDAQ:ITRI) have been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $123.92.

Several analysts have recently commented on the company. Guggenheim raised their target price on Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Oppenheimer raised their price target on shares of Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Piper Sandler increased their target price on shares of Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Robert W. Baird boosted their price target on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Janney Montgomery Scott started coverage on Itron in a report on Friday, September 27th. They set a “buy” rating and a $131.00 price objective for the company.

Institutional Investors Weigh In On Itron

Several hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC boosted its position in shares of Itron by 45.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,674 shares of the scientific and technical instruments company’s stock valued at $1,810,000 after acquiring an additional 5,249 shares in the last quarter. Merit Financial Group LLC acquired a new stake in Itron in the 4th quarter valued at $301,000. Hennion & Walsh Asset Management Inc. grew its position in Itron by 78.3% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 6,083 shares of the scientific and technical instruments company’s stock valued at $660,000 after acquiring an additional 2,671 shares during the period. Contravisory Investment Management Inc. lifted its holdings in shares of Itron by 154.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company’s stock valued at $94,000 after acquiring an additional 525 shares during the period. Finally, Burney Co. boosted its stake in shares of Itron by 129.0% in the 4th quarter. Burney Co. now owns 8,795 shares of the scientific and technical instruments company’s stock valued at $955,000 after purchasing an additional 4,955 shares in the last quarter. Institutional investors own 96.19% of the company’s stock.

Itron Price Performance

NASDAQ ITRI opened at $105.36 on Monday. The stock has a market capitalization of $4.75 billion, a P/E ratio of 21.59, a P/E/G ratio of 0.85 and a beta of 1.47. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. The business’s fifty day moving average is $112.52 and its two-hundred day moving average is $106.67. Itron has a 1 year low of $69.23 and a 1 year high of $124.90.

Itron (NASDAQ:ITRI) last posted 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 for the quarter, compared to the consensus estimate of $596.41 million. During the same quarter in the previous year, the company earned $0.98 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, research analysts forecast that Itron will post 5.33 earnings per share for the current fiscal year.

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.