Itron (NASDAQ:ITRI) Price Target Raised to $124.00 at Piper Sandler

Itron (NASDAQ:ITRI) had its target price hoisted by equities researchers at Piper Sandler from $119.00 to $124.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the scientific and technical instruments company’s stock. Piper Sandler’s price objective points to a potential upside of 15.11% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Roth Mkm boosted their price objective on shares of Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 1st. TD Cowen boosted their price target on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Robert W. Baird increased their price objective on Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Guggenheim lifted their price objective on Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Oppenheimer upped their target price on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Itron presently has an average rating of “Moderate Buy” and an average target price of $125.92.

Itron Stock Up 5.8 %

Shares of Itron stock opened at $107.72 on Thursday. The company’s 50 day moving average price is $104.98 and its 200-day moving average price is $106.85. Itron has a 52-week low of $86.13 and a 52-week high of $124.90. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 22.07, a P/E/G ratio of 0.81 and a beta of 1.46.

Insider Transactions at Itron

In other news, CFO Joan S. Hooper sold 2,322 shares of Itron stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $215,713.80. Following the completion of the transaction, the chief financial officer now directly owns 92,076 shares in the company, valued at approximately $8,553,860.40. This trade represents a 2.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christopher E. Ware sold 648 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $60,199.20. Following the completion of the sale, the senior vice president now owns 20,326 shares in the company, valued at $1,888,285.40. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,287 shares of company stock valued at $305,362 in the last three months. 1.45% of the stock is currently owned by company insiders.

Institutional Trading of Itron

Several institutional investors have recently bought and sold shares of the company. GeoWealth Management LLC grew its holdings in shares of Itron by 4,580.0% during the fourth quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company’s stock valued at $25,000 after buying an additional 229 shares during the last quarter. Continuum Advisory LLC lifted its position in Itron by 42.1% in the 3rd quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock valued at $40,000 after acquiring an additional 102 shares in the last quarter. Quarry LP boosted its stake in Itron by 29.0% during the 3rd quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock valued at $48,000 after purchasing an additional 102 shares during the last quarter. Covestor Ltd boosted its stake in Itron by 26.1% during the 3rd quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock valued at $57,000 after purchasing an additional 111 shares during the last quarter. Finally, CoreCap Advisors LLC increased its holdings in shares of Itron by 25.5% in the 4th quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company’s stock worth $67,000 after purchasing an additional 125 shares in the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

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.