Itron (NASDAQ:ITRI) Given New $124.00 Price Target at Oppenheimer

Itron (NASDAQ:ITRI) had its target price increased by Oppenheimer from $120.00 to $124.00 in a report released on Friday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the scientific and technical instruments company’s stock.

Several other research firms have also commented on ITRI. Piper Sandler raised their target price on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a report on Friday. Roth Mkm reaffirmed a “buy” rating and set a $125.00 target price on shares of Itron in a report on Wednesday, August 21st. Robert W. Baird raised their target price on Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday. TD Cowen raised their target price on Itron from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Janney Montgomery Scott started coverage on Itron in a report on Friday, September 27th. They set a “buy” rating and a $131.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Itron has a consensus rating of “Moderate Buy” and a consensus target price of $123.50.

Itron Stock Performance

Shares of NASDAQ:ITRI traded up $0.05 during trading on Friday, hitting $111.81. The stock had a trading volume of 963,729 shares, compared to its average volume of 521,076. Itron has a 12-month low of $58.88 and a 12-month high of $116.39. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 0.87 and a beta of 1.47. The company has a quick ratio of 2.61, a current ratio of 3.16 and a debt-to-equity ratio of 0.98. The stock has a 50-day simple moving average of $103.88 and a two-hundred day simple moving average of $102.57.

Itron (NASDAQ:ITRI) last announced 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 16.42% and a net margin of 7.98%. The firm had revenue of $615.46 million during the quarter, compared to analysts’ expectations of $596.41 million. During the same period last year, the business posted $0.98 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities research analysts expect that Itron will post 4.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Donald L. Reeves III sold 4,210 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the sale, the senior vice president now directly owns 16,269 shares in the company, valued at approximately $1,643,169. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Donald L. Reeves III sold 4,210 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the sale, the senior vice president now directly owns 16,269 shares in the company, valued at approximately $1,643,169. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joan S. Hooper sold 509 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total value of $51,994.35. Following the transaction, the chief financial officer now directly owns 72,338 shares in the company, valued at $7,389,326.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,276 shares of company stock worth $4,515,846. 1.45% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Itron

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC acquired a new position in Itron during the first quarter worth $1,076,000. Jupiter Asset Management Ltd. acquired a new position in Itron during the first quarter worth $2,029,000. Sculptor Capital LP acquired a new position in shares of Itron in the 2nd quarter valued at $5,255,000. UniSuper Management Pty Ltd acquired a new position in shares of Itron in the 1st quarter valued at $904,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Itron by 113.0% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 30,988 shares of the scientific and technical instruments company’s stock valued at $2,867,000 after purchasing an additional 16,441 shares during the last quarter. Institutional investors and hedge funds 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.