Itron (NASDAQ:ITRI) Stock Price Expected to Rise, Oppenheimer Analyst Says

Itron (NASDAQ:ITRI) had its price target upped by Oppenheimer from $124.00 to $131.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the scientific and technical instruments company’s stock. Oppenheimer’s price objective suggests a potential upside of 21.34% from the company’s current price.

Other research analysts have also issued research reports about the company. Roth Mkm raised their target price on Itron from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. StockNews.com upgraded shares of Itron from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 21st. TD Cowen increased their price target on shares of Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Guggenheim raised their target price on shares of Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Robert W. Baird upped their price objective on Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Itron presently has a consensus rating of “Moderate Buy” and an average price target of $124.50.

Itron Stock Up 6.0 %

Shares of Itron stock traded up $6.15 during trading on Wednesday, reaching $107.96. 400,114 shares of the company traded hands, compared to its average volume of 592,009. The firm has a market capitalization of $4.87 billion, a PE ratio of 22.09, a P/E/G ratio of 0.81 and a beta of 1.46. Itron has a 1-year low of $86.13 and a 1-year high of $124.90. The company has a 50 day moving average price of $104.99 and a 200-day moving average price of $106.84. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83.

Insiders Place Their Bets

In other Itron news, SVP Christopher E. Ware sold 648 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 $60,199.20. Following the completion of the sale, the senior vice president now directly owns 20,326 shares in the company, valued at approximately $1,888,285.40. The trade was a 3.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Joan S. Hooper sold 2,322 shares of the business’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 $215,713.80. Following the completion of the transaction, the chief financial officer now owns 92,076 shares of the company’s stock, valued at approximately $8,553,860.40. This represents a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,287 shares of company stock worth $305,362 over the last quarter. Company insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Itron

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GeoWealth Management LLC raised its position in shares of Itron by 4,580.0% during the 4th 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 period. Proficio Capital Partners LLC purchased a new stake in Itron in the 4th quarter valued at $30,000. Continuum Advisory LLC lifted its position in Itron by 42.1% during the 3rd quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock worth $40,000 after acquiring an additional 102 shares during the period. Quarry LP lifted its position in Itron by 29.0% in the third 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 period. Finally, Covestor Ltd grew its position in Itron by 26.1% during the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock worth $57,000 after buying an additional 111 shares during the period. 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.