Itron, Inc. (NASDAQ:ITRI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Itron, Inc. (NASDAQ:ITRI) have earned a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $123.92.

ITRI has been the subject of a number of research analyst reports. Piper Sandler boosted their target price on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Oppenheimer boosted their price objective on Itron from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Roth Mkm raised their target price on shares of Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a 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 report on Wednesday, November 6th. Finally, Robert W. Baird raised their price objective on shares of Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, November 1st.

Hedge Funds Weigh In On Itron

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in Itron by 0.5% during 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 acquiring an additional 5,630 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of Itron by 62.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 899,789 shares of the scientific and technical instruments company’s stock worth $96,106,000 after purchasing an additional 346,615 shares in the last quarter. Select Equity Group L.P. boosted its holdings in shares of Itron by 86.2% in the 2nd quarter. Select Equity Group L.P. now owns 603,877 shares of the scientific and technical instruments company’s stock valued at $59,760,000 after buying an additional 279,629 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Itron by 90.7% in the third quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company’s stock valued at $54,658,000 after buying an additional 243,355 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in Itron by 1.5% during the third quarter. Vontobel Holding Ltd. now owns 429,945 shares of the scientific and technical instruments company’s stock worth $45,922,000 after buying an additional 6,310 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

Itron Price Performance

Itron stock opened at $106.86 on Monday. The firm has a market capitalization of $4.82 billion, a P/E ratio of 21.90, a PEG ratio of 0.88 and a beta of 1.47. The business has a 50-day moving average of $111.24 and a 200-day moving average of $106.94. 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 1 year low of $71.00 and a 1 year high of $124.90.

Itron (NASDAQ:ITRI) last issued its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.13 by $0.71. The firm had revenue of $615.46 million during the quarter, compared to the consensus estimate of $596.41 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 earnings per share. On average, equities analysts anticipate that Itron will post 5.33 EPS for the current year.

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.