Itron (NASDAQ:ITRI) Price Target Raised to $115.00 at Canaccord Genuity Group

Itron (NASDAQ:ITRI) had its target price boosted by Canaccord Genuity Group from $105.00 to $115.00 in a report issued on Friday, Benzinga reports. They currently have a buy rating on the scientific and technical instruments company’s stock.

Several other equities analysts have also recently weighed in on ITRI. Robert W. Baird lifted their price objective on shares of Itron from $108.00 to $115.00 and gave the stock an outperform rating in a research report on Wednesday, March 13th. Roth Mkm lifted their price objective on shares of Itron from $102.00 to $112.00 and gave the stock a buy rating in a research report on Friday. JPMorgan Chase & Co. lifted their target price on shares of Itron from $77.00 to $92.00 and gave the company a neutral rating in a research note on Wednesday, March 13th. TheStreet raised shares of Itron from a c rating to a b- rating in a research note on Monday, February 26th. Finally, Oppenheimer lifted their target price on shares of Itron from $100.00 to $110.00 and gave the company an outperform rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Itron has an average rating of Moderate Buy and a consensus target price of $104.18.

Itron Price Performance

Itron stock traded up $0.36 during mid-day trading on Friday, hitting $107.37. The company’s stock had a trading volume of 708,241 shares, compared to its average volume of 438,677. The company has a quick ratio of 1.40, a current ratio of 1.90 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $4.93 billion, a P/E ratio of 30.77, a P/E/G ratio of 1.16 and a beta of 1.38. Itron has a twelve month low of $56.11 and a twelve month high of $108.60. The stock’s fifty day moving average price is $91.94 and its two-hundred day moving average price is $77.64.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.39. Itron had a net margin of 7.03% and a return on equity of 14.51%. The firm had revenue of $603.44 million for the quarter, compared to analysts’ expectations of $579.49 million. During the same period in the previous year, the company posted $0.49 EPS. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. Research analysts forecast that Itron will post 3.68 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jerome J. Lande sold 14,896 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $95.25, for a total value of $1,418,844.00. Following the sale, the director now owns 5,750 shares of the company’s stock, valued at $547,687.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Itron news, SVP Donald L. Reeves III sold 383 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $28,866.71. Following the transaction, the senior vice president now directly owns 8,708 shares in the company, valued at $656,321.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jerome J. Lande sold 14,896 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the completion of the transaction, the director now owns 5,750 shares in the company, valued at $547,687.50. The disclosure for this sale can be found here. Insiders sold a total of 30,467 shares of company stock valued at $2,752,520 in the last quarter. Insiders own 1.45% of the company’s stock.

Hedge Funds Weigh In On Itron

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Itron during the third quarter worth approximately $239,000. Raymond James Financial Services Advisors Inc. lifted its position in shares of Itron by 1.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 19,549 shares of the scientific and technical instruments company’s stock worth $1,184,000 after purchasing an additional 236 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Itron by 453.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 114,856 shares of the scientific and technical instruments company’s stock valued at $6,958,000 after buying an additional 94,085 shares during the period. Mackenzie Financial Corp lifted its holdings in Itron by 313.4% in the third quarter. Mackenzie Financial Corp now owns 11,595 shares of the scientific and technical instruments company’s stock valued at $677,000 after buying an additional 8,790 shares during the period. Finally, Inspire Investing LLC lifted its holdings in Itron by 9.6% in the third quarter. Inspire Investing LLC now owns 5,684 shares of the scientific and technical instruments company’s stock valued at $344,000 after buying an additional 498 shares during the period. 96.19% of the stock is currently owned by institutional investors and hedge funds.

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.