Itron, Inc. (NASDAQ:ITRI) Stock Has Average Price Target of $129.20 According to Analysts

Shares of Itron, Inc. (NASDAQ:ITRI) have earned an average rating of “Moderate Buy” from the thirteen analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $129.20.

ITRI has been the subject of several analyst reports. Robert W. Baird set a $125.00 price target on shares of Itron in a report on Wednesday, July 29th. Needham & Company LLC boosted their target price on shares of Itron from $128.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, October 27th. Wall Street Zen raised shares of Itron from a “hold” rating to a “buy” rating in a research note on Saturday. Seaport Research Partners reiterated a “buy” rating and set a $150.00 target price on shares of Itron in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of Itron from $107.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th.

Insider Transactions at Itron

In other Itron news, CFO Joan Hooper sold 455 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $98.79, for a total transaction of $44,949.45. Following the completion of the sale, the chief financial officer directly owned 118,440 shares of the company’s stock, valued at approximately $11,700,687.60. The trade was a 0.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Donald Reeves, III sold 283 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $99.99, for a total value of $28,297.17. Following the sale, the senior vice president directly owned 27,662 shares of the company’s stock, valued at $2,765,923.38. This represents a 1.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 17,903 shares of company stock valued at $1,753,521 in the last three months. Company insiders own 1.77% of the company’s stock.

Institutional Trading of Itron

A number of hedge funds have recently modified their holdings of ITRI. Ethic Inc. grew its holdings in shares of Itron by 156.8% during the third quarter. Ethic Inc. now owns 9,922 shares of the scientific and technical instruments company’s stock worth $857,000 after buying an additional 6,059 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in Itron by 7.6% in the 3rd quarter. Pictet Asset Management Holding SA now owns 6,788 shares of the scientific and technical instruments company’s stock valued at $586,000 after acquiring an additional 482 shares in the last quarter. Parallel Advisors LLC lifted its stake in Itron by 9,111.1% in the 3rd quarter. Parallel Advisors LLC now owns 829 shares of the scientific and technical instruments company’s stock valued at $72,000 after acquiring an additional 820 shares in the last quarter. CenterBook Partners LP acquired a new position in Itron during the 3rd quarter worth approximately $1,481,000. Finally, Kestra Advisory Services LLC acquired a new position in Itron during the 3rd quarter worth approximately $255,000. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Itron Stock Down 1.6%

Shares of ITRI opened at $98.22 on Friday. The company has a quick ratio of 2.36, a current ratio of 2.83 and a debt-to-equity ratio of 0.92. The company has a 50-day moving average price of $91.04 and a two-hundred day moving average price of $91.05. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 1.13 and a beta of 1.33. Itron has a 12 month low of $77.77 and a 12 month high of $108.20.

Itron (NASDAQ:ITRI) last released its quarterly earnings data on Tuesday, October 27th. The scientific and technical instruments company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.38. The company had revenue of $599.33 million for the quarter, compared to analyst estimates of $595.50 million. Itron had a return on equity of 20.11% and a net margin of 12.05%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.54 EPS. Equities analysts predict that Itron will post 6.78 EPS for the current fiscal year.

About Itron

Itron, Inc is a technology company that provides solutions to utilities and cities for managing electricity, natural gas, and water resources. Its offerings help organizations measure consumption, collect and analyze data, improve operational efficiency, and support more reliable and sustainable delivery of essential services.

The company’s portfolio includes smart meters, advanced metering infrastructure, communications networks, sensors, data management systems, and utility software.