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

Itron, Inc. (NASDAQ:ITRI) has earned an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $127.64.

A number of research analysts have recently weighed in on ITRI shares. Guggenheim cut their price objective on Itron from $135.00 to $133.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Piper Sandler raised their price target on Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. StockNews.com cut Itron from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 1st. Oppenheimer increased their target price on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, Canaccord Genuity Group boosted their price target on shares of Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th.

Itron Stock Performance

ITRI opened at $103.72 on Tuesday. 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 stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 0.81 and a beta of 1.49. The company has a fifty day moving average of $104.60 and a 200 day moving average of $107.39. Itron has a fifty-two week low of $86.13 and a fifty-two week high of $124.90.

Insider Transactions at Itron

In other news, SVP Christopher E. Ware sold 648 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $60,199.20. Following the sale, the senior vice president now directly owns 20,326 shares in the company, valued at approximately $1,888,285.40. This represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mary C. Hemmingsen sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $107.27, for a total value of $80,452.50. Following the sale, the director now directly owns 5,630 shares of the company’s stock, valued at $603,930.10. This represents a 11.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,037 shares of company stock worth $385,815. 1.45% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Itron

Several hedge funds have recently bought and sold shares of ITRI. GeoWealth Management LLC grew its stake in Itron by 4,580.0% in the 4th quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company’s stock worth $25,000 after acquiring an additional 229 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Itron in the fourth quarter valued at approximately $30,000. Continuum Advisory LLC boosted its holdings in shares of Itron by 42.1% in the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock valued at $40,000 after purchasing an additional 102 shares during the period. Quarry LP grew its stake in Itron by 29.0% in 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 in the last quarter. Finally, Covestor Ltd increased its holdings in Itron by 26.1% during the 3rd 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 period. 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.