TD Cowen Increases Itron (NASDAQ:ITRI) Price Target to $115.00

Itron (NASDAQ:ITRI) had its price target raised by analysts at TD Cowen from $110.00 to $115.00 in a report released on Friday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the scientific and technical instruments company’s stock. TD Cowen’s price target points to a potential upside of 7.47% from the company’s previous close.

ITRI has been the subject of a number of other research reports. Canaccord Genuity Group raised Itron from a “hold” rating to a “buy” rating and upped their price target for the stock from $68.00 to $105.00 in a research report on Tuesday, February 27th. Robert W. Baird upped their target price on Itron from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. JPMorgan Chase & Co. increased their price objective on Itron from $77.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. Oppenheimer raised shares of Itron from a “market perform” rating to an “outperform” rating and set a $81.00 target price for the company in a research report on Friday, January 19th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $102.00 price target on shares of Itron in a research report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $103.60.

Itron Stock Performance

ITRI stock traded up $7.19 during midday trading on Friday, hitting $107.01. The stock had a trading volume of 1,235,838 shares, compared to its average volume of 473,020. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of 30.75, a P/E/G ratio of 1.19 and a beta of 1.38. The stock has a 50-day simple moving average of $91.94 and a 200 day simple moving average of $77.51. Itron has a 52 week low of $56.11 and a 52 week high of $107.11. The company has a current ratio of 1.90, a quick ratio of 1.43 and a debt-to-equity ratio of 0.33.

Itron (NASDAQ:ITRI) last announced its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.39. Itron had a return on equity of 14.51% and a net margin of 7.03%. The company had revenue of $603.44 million during the quarter, compared to analyst estimates of $579.49 million. During the same period last year, the company posted $0.49 earnings per share. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Itron will post 3.68 earnings per share for the current year.

Insider Activity at Itron

In related news, CEO Thomas Deitrich sold 1,912 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $144,107.44. Following the sale, the chief executive officer now owns 169,073 shares of the company’s stock, valued at $12,743,032.01. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Itron news, CEO Thomas Deitrich sold 1,912 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total transaction of $144,107.44. Following the completion of the sale, the chief executive officer now owns 169,073 shares of the company’s stock, valued at approximately $12,743,032.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jerome J. Lande sold 14,896 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was 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 approximately $547,687.50. The disclosure for this sale can be found here. Insiders have sold 30,467 shares of company stock valued at $2,752,520 over the last three months. 1.45% of the stock is owned by insiders.

Hedge Funds Weigh In On Itron

A number of institutional investors and hedge funds have recently modified their holdings of the business. Contravisory Investment Management Inc. grew its holdings in Itron by 61.5% during the first quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock worth $32,000 after buying an additional 131 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Itron in the 4th quarter worth approximately $27,000. Covestor Ltd grew its holdings in shares of Itron by 9,150.0% during the third quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 549 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Itron during the fourth quarter worth about $50,000. Finally, C M Bidwell & Associates Ltd. bought a new position in shares of Itron during the 4th quarter valued at $76,000. 96.19% of the stock is currently owned by 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.