Itron, Inc. (NASDAQ:ITRI) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Itron, Inc. (NASDAQ:ITRI - Get Free Report) have received an average rating of "Moderate Buy" from the thirteen brokerages that are covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $123.92.

A number of brokerages recently weighed in on ITRI. Oppenheimer lifted their target price on Itron from $120.00 to $124.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Stephens reiterated an "equal weight" rating and set a $110.00 target price on shares of Itron in a report on Monday, August 5th. Robert W. Baird raised their price target on shares of Itron from $123.00 to $132.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Guggenheim boosted their price objective on shares of Itron from $128.00 to $135.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Finally, Piper Sandler raised their target price on shares of Itron from $110.00 to $119.00 and gave the company a "neutral" rating in a research note on Friday, November 1st.

Itron Stock Performance

Shares of NASDAQ ITRI traded down $0.76 during trading hours on Friday, reaching $118.53. The stock had a trading volume of 209,181 shares, compared to its average volume of 513,149. Itron has a fifty-two week low of $65.81 and a fifty-two week high of $124.90. The firm has a 50-day moving average of $110.92 and a 200-day moving average of $105.38. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 0.89 and a beta of 1.46.

Itron (NASDAQ:ITRI - Get Free Report) last released its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.71. The firm had revenue of $615.46 million during the quarter, compared to the consensus estimate of $596.41 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. Itron's revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 earnings per share. Equities research analysts predict that Itron will post 5.33 earnings per share for the current year.

Insider Activity

In other news, CEO Thomas Deitrich sold 37,500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the transaction, the chief executive officer now owns 205,276 shares of the company's stock, valued at approximately $21,519,083.08. This trade represents a 15.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.45% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Itron by 6.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,298 shares of the scientific and technical instruments company's stock worth $2,804,000 after purchasing an additional 1,765 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Itron during the first quarter valued at $1,319,000. Swedbank AB acquired a new position in shares of Itron during the first quarter valued at $1,900,000. GAMMA Investing LLC grew its position in shares of Itron by 46.6% during the second quarter. GAMMA Investing LLC now owns 720 shares of the scientific and technical instruments company's stock worth $71,000 after acquiring an additional 229 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Itron by 315.6% in the 2nd quarter. CWM LLC now owns 881 shares of the scientific and technical instruments company's stock worth $87,000 after acquiring an additional 669 shares during the period. 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.