Itron (NASDAQ:ITRI) Sets New 1-Year High at $112.29

Shares of Itron, Inc. (NASDAQ:ITRI) reached a new 52-week high on Thursday . The company traded as high as $112.29 and last traded at $112.15, with a volume of 139195 shares. The stock had previously closed at $103.44.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ITRI shares. TD Cowen increased their price objective on shares of Itron from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Roth Mkm increased their price objective on shares of Itron from $112.00 to $122.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Canaccord Genuity Group increased their price objective on shares of Itron from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. JPMorgan Chase & Co. increased their price objective on shares of Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Finally, Guggenheim raised shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 target price on the stock in a research note on Thursday, July 11th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $112.09.

Itron Stock Performance

The company has a current ratio of 1.90, a quick ratio of 1.40 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average price is $103.54 and its two-hundred day moving average price is $93.74. The company has a market cap of $5.12 billion, a P/E ratio of 32.27, a price-to-earnings-growth ratio of 0.95 and a beta of 1.45.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.39. Itron had a net margin of 7.03% and a return on equity of 14.51%. The company had revenue of $603.44 million during the quarter, compared to analyst estimates of $579.49 million. During the same quarter last year, the firm posted $0.49 EPS. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. As a group, equities analysts forecast that Itron, Inc. will post 4.1 earnings per share for the current year.

Insider Activity

In other news, SVP Christopher E. Ware sold 311 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $106.84, for a total transaction of $33,227.24. Following the completion of the transaction, the senior vice president now owns 15,371 shares in the company, valued at approximately $1,642,237.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Itron news, SVP Christopher E. Ware sold 311 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $106.84, for a total value of $33,227.24. Following the completion of the transaction, the senior vice president now directly owns 15,371 shares in the company, valued at $1,642,237.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Joan S. Hooper sold 501 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $108.87, for a total transaction of $54,543.87. Following the completion of the transaction, the chief financial officer now owns 72,847 shares of the company’s stock, valued at $7,930,852.89. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,775 shares of company stock worth $192,613. Corporate insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hexagon Capital Partners LLC boosted its holdings in shares of Itron by 85.6% in 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. Contravisory Investment Management Inc. boosted 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 purchasing an additional 131 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Itron during the fourth quarter worth approximately $27,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Itron during the fourth quarter worth approximately $50,000. Finally, CWM LLC boosted its holdings in shares of Itron by 315.6% during the second quarter. CWM LLC now owns 881 shares of the scientific and technical instruments company’s stock worth $87,000 after purchasing an additional 669 shares during the period. 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.