Brokerages Set Itron, Inc. (NASDAQ:ITRI) Price Target at $123.92

Shares of Itron, Inc. (NASDAQ:ITRI - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $123.92.

Several analysts have recently weighed in on the company. Robert W. Baird upped their price objective on Itron from $123.00 to $132.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Janney Montgomery Scott started coverage on shares of Itron in a research report on Friday, September 27th. They set a "buy" rating and a $131.00 price objective for the company. Oppenheimer lifted their price objective on shares of Itron from $120.00 to $124.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Guggenheim increased their target price on shares of Itron from $128.00 to $135.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Finally, TD Cowen lifted their price target on shares of Itron from $125.00 to $136.00 and gave the stock a "buy" rating in a research report on Friday, November 1st.

Itron Price Performance

Itron stock traded up $0.91 during trading hours on Monday, hitting $105.36. 394,015 shares of the company traded hands, compared to its average volume of 353,397. Itron has a 1-year low of $69.23 and a 1-year high of $124.90. The firm has a market cap of $4.75 billion, a P/E ratio of 21.59, a P/E/G ratio of 0.85 and a beta of 1.47. The firm's 50-day simple moving average is $112.13 and its two-hundred day simple moving average is $106.71. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

Itron (NASDAQ:ITRI - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, beating analysts' consensus estimates of $1.13 by $0.71. The business had revenue of $615.46 million for the quarter, compared to analyst estimates of $596.41 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. The business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the business earned $0.98 earnings per share. As a group, analysts forecast that Itron will post 5.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Itron

A number of institutional investors have recently bought and sold shares of ITRI. Erste Asset Management GmbH acquired a new stake in shares of Itron during the 3rd quarter valued at about $38,534,000. Handelsbanken Fonder AB boosted its holdings in Itron by 62.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 899,789 shares of the scientific and technical instruments company's stock valued at $96,106,000 after purchasing an additional 346,615 shares during the period. Select Equity Group L.P. grew its position in Itron by 86.2% during the second quarter. Select Equity Group L.P. now owns 603,877 shares of the scientific and technical instruments company's stock worth $59,760,000 after buying an additional 279,629 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Itron by 90.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company's stock worth $54,658,000 after purchasing an additional 243,355 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Itron by 611.9% during the third quarter. Franklin Resources Inc. now owns 282,828 shares of the scientific and technical instruments company's stock worth $31,128,000 after buying an additional 243,102 shares in the last quarter. 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.