Itron (NASDAQ:ITRI) Hits New 52-Week High at $98.18

Itron, Inc. (NASDAQ:ITRI)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $98.18 and last traded at $96.34, with a volume of 65466 shares changing hands. The stock had previously closed at $91.54.

Wall Street Analyst Weigh In

ITRI has been the subject of several research reports. Canaccord Genuity Group upgraded Itron from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $105.00 in a report on Tuesday, February 27th. Piper Sandler reduced their target price on Itron from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. Roth Mkm restated a “buy” rating and issued a $102.00 target price on shares of Itron in a report on Tuesday, April 23rd. Robert W. Baird upped their price target on Itron from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. Finally, TD Cowen upped their price target on Itron from $107.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Itron has an average rating of “Moderate Buy” and an average target price of $97.60.

Itron Stock Up 8.0 %

The business has a 50-day simple moving average of $90.81 and a two-hundred day simple moving average of $76.89. The stock has a market capitalization of $4.53 billion, a P/E ratio of 47.30, a PEG ratio of 1.02 and a beta of 1.38. The company has a quick ratio of 1.43, a current ratio of 1.95 and a debt-to-equity ratio of 0.34.

Itron (NASDAQ:ITRI) last announced its earnings results on Monday, February 26th. The scientific and technical instruments company reported $1.23 EPS for the quarter, topping the consensus estimate of $0.75 by $0.48. The company had revenue of $577.17 million for the quarter, compared to analysts’ expectations of $569.90 million. Itron had a return on equity of 12.27% and a net margin of 4.46%. The business’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 earnings per share. Equities research analysts forecast that Itron, Inc. will post 3.61 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Joan S. Hooper sold 1,560 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total transaction of $117,577.20. Following the transaction, the chief financial officer now owns 60,141 shares of the company’s stock, valued at $4,532,827.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Itron news, CFO Joan S. Hooper sold 1,560 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $117,577.20. Following the transaction, the chief financial officer now owns 60,141 shares of the company’s stock, valued at $4,532,827.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Donald L. Reeves III sold 383 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $28,866.71. Following the sale, the senior vice president now directly owns 8,708 shares in the company, valued at approximately $656,321.96. The disclosure for this sale can be found here. Insiders have sold 30,467 shares of company stock valued at $2,752,520 over the last 90 days. 1.45% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Contravisory Investment Management Inc. grew its holdings in shares of Itron by 61.5% during the first quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock worth $32,000 after buying an additional 131 shares in the last quarter. GAMMA Investing LLC bought a new position in Itron in the fourth quarter valued at approximately $27,000. Covestor Ltd grew its stake in Itron by 9,150.0% in the third quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company’s stock valued at $34,000 after purchasing an additional 549 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Itron in the fourth quarter valued at approximately $50,000. Finally, C M Bidwell & Associates Ltd. bought a new position in Itron in the fourth quarter valued at approximately $76,000. 96.19% of the stock is currently owned by 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.