Itron (NASDAQ:ITRI) Raised to Strong-Buy at StockNews.com

Itron (NASDAQ:ITRI) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.

ITRI has been the subject of a number of other reports. Piper Sandler upped their target price on shares of Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Oppenheimer increased their target price on shares of Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Robert W. Baird upped their price target on shares of Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Guggenheim increased their price objective on shares of Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, TD Cowen lifted their target price on shares of Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.92.

Itron Stock Down 0.6 %

ITRI opened at $106.09 on Wednesday. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 0.89 and a beta of 1.46. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The firm has a 50 day moving average price of $109.25 and a 200-day moving average price of $107.03. Itron has a twelve month low of $71.72 and a twelve month high of $124.90.

Institutional Investors Weigh In On Itron

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in shares of Itron by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock valued at $114,835,000 after purchasing an additional 5,630 shares during the period. Assenagon Asset Management S.A. raised its position in Itron by 90.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company’s stock valued at $54,658,000 after purchasing an additional 243,355 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of Itron by 8.1% during the 4th quarter. Vontobel Holding Ltd. now owns 464,787 shares of the scientific and technical instruments company’s stock worth $50,467,000 after buying an additional 34,842 shares in the last quarter. Pinnacle Associates Ltd. grew its position in shares of Itron by 9.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 398,372 shares of the scientific and technical instruments company’s stock worth $42,550,000 after buying an additional 34,014 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new stake in shares of Itron in the third quarter valued at about $38,534,000. 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.