Itron (NASDAQ:ITRI) Cut to Buy at StockNews.com

StockNews.com cut shares of Itron (NASDAQ:ITRI) from a strong-buy rating to a buy rating in a report released on Saturday.

Other analysts also recently issued reports about the company. Piper Sandler increased their price objective on Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Oppenheimer increased their price target on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Guggenheim cut their price objective on Itron from $135.00 to $133.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Roth Mkm increased their target price on shares of Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Robert W. Baird raised their price target on shares of Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $127.64.

Itron Stock Performance

Shares of ITRI stock opened at $106.52 on Friday. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 21.83, 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. The business’s 50-day moving average price is $104.96 and its 200-day moving average price is $107.09. Itron has a 12 month low of $86.13 and a 12 month high of $124.90.

Insiders Place Their Bets

In related news, SVP Christopher E. Ware sold 648 shares of Itron 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 sale, the senior vice president now owns 20,326 shares of the company’s stock, valued at approximately $1,888,285.40. This trade represents a 3.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mary C. Hemmingsen sold 750 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $107.27, for a total transaction of $80,452.50. Following the sale, the director now owns 5,630 shares of the company’s stock, valued at $603,930.10. This trade represents a 11.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,037 shares of company stock worth $385,815. 1.45% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC bought a new position in Itron in the 3rd quarter valued at about $223,000. Farther Finance Advisors LLC boosted its position in shares of Itron by 21.7% during the third quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock valued at $77,000 after buying an additional 129 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Itron by 1.7% during the third quarter. Janney Montgomery Scott LLC now owns 11,425 shares of the scientific and technical instruments company’s stock worth $1,220,000 after buying an additional 190 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in Itron in the 3rd quarter valued at $473,000. Finally, Hanseatic Management Services Inc. raised its position in Itron by 4.4% in the 3rd quarter. Hanseatic Management Services Inc. now owns 7,522 shares of the scientific and technical instruments company’s stock valued at $803,000 after buying an additional 318 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

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.