Itron (NASDAQ:ITRI) Price Target Raised to $131.00 at Oppenheimer

Itron (NASDAQ:ITRI) had its target price upped by Oppenheimer from $124.00 to $131.00 in a report issued on Wednesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the scientific and technical instruments company’s stock.

Other equities analysts have also recently issued reports about the company. Roth Mkm raised their target price on Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Guggenheim raised their target price on Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. 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, November 1st. StockNews.com raised Itron from a “buy” rating to a “strong-buy” rating in a report on Friday, February 21st. Finally, Piper Sandler raised their price target on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $125.50.

Itron Price Performance

Shares of Itron stock opened at $107.72 on Wednesday. Itron has a one year low of $86.13 and a one year high of $124.90. The stock’s fifty day moving average is $104.98 and its 200 day moving average is $106.85. The stock has a market cap of $4.86 billion, a P/E ratio of 22.07, a P/E/G ratio of 0.81 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36.

Insider Activity

In other news, CAO David Marshall Wright sold 317 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $29,449.30. Following the completion of the transaction, the chief accounting officer now owns 8,108 shares in the company, valued at $753,233.20. This trade represents a 3.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Joan S. Hooper sold 2,322 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $215,713.80. Following the transaction, the chief financial officer now owns 92,076 shares of the company’s stock, valued at approximately $8,553,860.40. The trade was a 2.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,287 shares of company stock worth $305,362 over the last 90 days. Corporate insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC grew its position in Itron by 105.9% in the third quarter. Intech Investment Management LLC now owns 19,444 shares of the scientific and technical instruments company’s stock worth $2,077,000 after acquiring an additional 10,001 shares in the last quarter. Geode Capital Management LLC grew its position in 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 worth $114,835,000 after acquiring an additional 5,630 shares in the last quarter. 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 worth $660,000 after acquiring an additional 2,671 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. purchased a new position in Itron in the third quarter worth about $5,994,000. Finally, Systematic Financial Management LP grew its position in Itron by 12.2% in the third quarter. Systematic Financial Management LP now owns 134,362 shares of the scientific and technical instruments company’s stock worth $14,351,000 after acquiring an additional 14,590 shares in the last quarter. Hedge funds and other 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.