Itron (NASDAQ:ITRI) Hits New 1-Year High – Here’s What Happened

Itron, Inc. (NASDAQ:ITRI) hit a new 52-week high during trading on Thursday . The stock traded as high as $115.92 and last traded at $114.34, with a volume of 261950 shares trading hands. The stock had previously closed at $103.86.

Wall Street Analyst Weigh In

Several analysts recently commented on ITRI shares. Guggenheim upgraded shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 price objective for the company in a research note on Thursday, July 11th. TD Cowen raised their price objective on shares of Itron from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Oppenheimer raised their price objective on shares of Itron from $110.00 to $112.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Robert W. Baird raised their price objective on shares of Itron from $115.00 to $123.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Piper Sandler raised their price objective on shares of Itron from $109.00 to $110.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Itron currently has a consensus rating of “Moderate Buy” and an average target price of $119.67.

Itron Trading Up 9.6 %

The firm has a market capitalization of $5.22 billion, a PE ratio of 32.85, a P/E/G ratio of 0.85 and a beta of 1.47. The company has a quick ratio of 2.61, a current ratio of 3.16 and a debt-to-equity ratio of 0.98. The business’s fifty day moving average price is $103.36 and its 200 day moving average price is $102.34.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.25. The business had revenue of $609.07 million during the quarter, compared to the consensus estimate of $599.25 million. Itron had a net margin of 7.98% and a return on equity of 16.42%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 earnings per share. As a group, analysts expect that Itron, Inc. will post 4.58 EPS for the current fiscal year.

Insider Transactions at Itron

In other news, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the sale, the senior vice president now directly owns 16,269 shares in the company, valued at $1,643,169. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Donald L. Reeves III sold 4,210 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total value of $425,210.00. Following the completion of the sale, the senior vice president now directly owns 16,269 shares in the company, valued at approximately $1,643,169. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Deitrich sold 37,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the completion of the sale, the chief executive officer now owns 205,276 shares of the company’s stock, valued at approximately $21,519,083.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,276 shares of company stock worth $4,515,846 over the last ninety days. 1.45% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Itron

A number of institutional investors have recently bought and sold shares of ITRI. Quarry LP grew its stake in Itron by 53.0% during the second quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock worth $35,000 after buying an additional 122 shares during the period. Hexagon Capital Partners LLC grew its stake in Itron by 85.6% during the second quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock worth $27,000 after buying an additional 125 shares during the period. Farther Finance Advisors LLC grew its stake in 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 worth $77,000 after buying an additional 129 shares during the period. Xponance Inc. grew its stake in Itron by 5.1% during the second quarter. Xponance Inc. now owns 2,910 shares of the scientific and technical instruments company’s stock worth $288,000 after buying an additional 142 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake 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 during the period. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

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.