Itron (NASDAQ:ITRI) Given New $133.00 Price Target at Guggenheim

Itron (NASDAQ:ITRI) had its target price decreased by investment analysts at Guggenheim from $135.00 to $133.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the scientific and technical instruments company’s stock. Guggenheim’s target price suggests a potential upside of 22.14% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Roth Mkm boosted their price target on shares of Itron from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. Oppenheimer boosted their target price on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a research note on Wednesday. Robert W. Baird raised their price target on Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Piper Sandler boosted their price target on Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Canaccord Genuity Group increased their price objective on Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $127.64.

Itron Stock Performance

ITRI stock opened at $108.89 on Thursday. The firm has a 50 day simple moving average of $104.96 and a 200 day simple moving average of $106.85. Itron has a 52 week low of $86.13 and a 52 week high of $124.90. The stock has a market cap of $4.91 billion, a P/E ratio of 22.31, a P/E/G ratio of 0.81 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36.

Insider Activity

In related news, Director Mary C. Hemmingsen sold 750 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $107.27, for a total value of $80,452.50. Following the transaction, the director now directly owns 5,630 shares in the company, valued at approximately $603,930.10. This trade represents a 11.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Joan S. Hooper sold 2,322 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $215,713.80. Following the transaction, the chief financial officer now directly owns 92,076 shares of the company’s stock, valued at approximately $8,553,860.40. This represents a 2.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,037 shares of company stock valued at $385,815 over the last 90 days. 1.45% of the stock is currently owned by company insiders.

Institutional Trading of Itron

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GeoWealth Management LLC boosted its position in shares of Itron by 4,580.0% in the fourth quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company’s stock valued at $25,000 after acquiring an additional 229 shares during the period. Proficio Capital Partners LLC acquired a new position in Itron during the 4th quarter valued at $30,000. Continuum Advisory LLC raised its stake 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 valued at $40,000 after purchasing an additional 102 shares during the last quarter. Quarry LP boosted its holdings in Itron by 29.0% in the 3rd 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 increased its holdings in shares of Itron by 26.1% during the 3rd quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock worth $57,000 after purchasing an additional 111 shares during the period. Institutional investors and hedge funds 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.