Piper Sandler Boosts Itron (NASDAQ:ITRI) Price Target to $124.00

Itron (NASDAQ:ITRI) had its price target lifted by investment analysts at Piper Sandler from $119.00 to $124.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the scientific and technical instruments company’s stock. Piper Sandler’s price objective suggests a potential upside of 15.11% from the stock’s current price.

Several other equities analysts have also recently weighed in on ITRI. StockNews.com raised Itron from a “buy” rating to a “strong-buy” rating in a report on Friday, February 21st. TD Cowen increased their target price on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Roth Mkm raised their target price on Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Guggenheim upped their price target on shares of Itron from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Canaccord Genuity Group raised their price objective on shares of Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday. 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.92.

Itron Stock Up 5.8 %

Shares of Itron stock opened at $107.72 on Thursday. Itron has a twelve month low of $86.13 and a twelve month high of $124.90. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The company’s 50 day moving average is $104.98 and its 200 day moving average is $106.85. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 0.81 and a beta of 1.46.

Insiders Place Their Bets

In related news, SVP Christopher E. Ware sold 648 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $60,199.20. Following the completion of the transaction, the senior vice president now owns 20,326 shares of the company’s stock, valued at approximately $1,888,285.40. This represents a 3.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Joan S. Hooper sold 2,322 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $215,713.80. Following the completion of the sale, the chief financial officer now owns 92,076 shares of the company’s stock, valued at $8,553,860.40. The trade was a 2.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,287 shares of company stock worth $305,362. Company insiders own 1.45% of the company’s stock.

Hedge Funds Weigh In On Itron

Hedge funds have recently made changes to their positions in the business. Louisiana State Employees Retirement System lifted its holdings in Itron by 0.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 21,800 shares of the scientific and technical instruments company’s stock worth $2,367,000 after purchasing an additional 100 shares in the last quarter. Quarry LP grew its holdings in Itron by 29.0% during the 3rd quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock valued at $48,000 after buying an additional 102 shares in the last quarter. Continuum Advisory LLC raised its position in shares of Itron by 42.1% during the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock valued at $40,000 after buying an additional 102 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Itron by 2.2% in the third quarter. Stifel Financial Corp now owns 4,921 shares of the scientific and technical instruments company’s stock worth $526,000 after buying an additional 108 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of 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 acquiring an additional 111 shares during the last quarter. 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.