Guggenheim Issues Pessimistic Forecast for Itron (NASDAQ:ITRI) Stock Price

Itron (NASDAQ:ITRI) had its price objective cut by Guggenheim from $135.00 to $133.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. Guggenheim’s target price would suggest a potential upside of 23.83% from the company’s previous close.

Several other research analysts have also commented on the stock. Oppenheimer raised their price target on shares of Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a report on Wednesday. Robert W. Baird raised their target price on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Canaccord Genuity Group upped their price target on shares of Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler increased their price target on Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday. Finally, TD Cowen boosted their price objective on Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Itron currently has an average rating of “Moderate Buy” and an average target price of $125.75.

Itron Trading Down 0.3 %

NASDAQ:ITRI traded down $0.32 on Thursday, hitting $107.41. 152,663 shares of the stock were exchanged, compared to its average volume of 606,061. The stock has a fifty day moving average of $104.98 and a 200-day moving average of $106.85. The stock has a market cap of $4.84 billion, a PE ratio of 22.01, a PEG ratio of 0.81 and a beta of 1.46. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. Itron has a fifty-two week low of $86.13 and a fifty-two week high of $124.90.

Insider Buying and Selling at Itron

In other Itron news, CAO David Marshall Wright sold 317 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $29,449.30. Following the completion of the transaction, the chief accounting officer now directly owns 8,108 shares of the company’s stock, valued at $753,233.20. This trade represents a 3.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Christopher E. Ware sold 648 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $60,199.20. Following the completion of the sale, the senior vice president now owns 20,326 shares in the company, valued at approximately $1,888,285.40. This trade represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,287 shares of company stock worth $305,362 in the last 90 days. 1.45% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Itron by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock worth $114,835,000 after purchasing an additional 5,630 shares during the period. First Trust Advisors LP grew its position in shares of Itron by 9.1% during the 4th quarter. First Trust Advisors LP now owns 802,584 shares of the scientific and technical instruments company’s stock valued at $87,145,000 after buying an additional 66,637 shares during the last quarter. Norges Bank acquired a new stake in Itron during the fourth quarter worth about $64,615,000. Northern Trust Corp boosted its stake in Itron by 11.4% in the fourth quarter. Northern Trust Corp now owns 572,266 shares of the scientific and technical instruments company’s stock valued at $62,137,000 after acquiring an additional 58,546 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in shares of Itron by 21.5% during the fourth quarter. Nuveen Asset Management LLC now owns 560,478 shares of the scientific and technical instruments company’s stock valued at $60,857,000 after purchasing an additional 99,142 shares during the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

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.