Itron Inc. (ITRI) Reaches New 1-Year High at $48.73
Itron Inc. (NASDAQ:ITRI)’s share price reached a new 52-week high on Tuesday . The company traded as high as $48.73 and last traded at $48.32, with a volume of 28,567 shares. The stock had previously closed at $48.12.
A number of research firms have weighed in on ITRI. Canaccord Genuity restated a “buy” rating on shares of Itron in a report on Wednesday, May 4th. Robert W. Baird restated an “outperform” rating and issued a $47.00 price target on shares of Itron in a report on Saturday, August 13th. Zacks Investment Research upgraded Itron from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Thursday, May 19th. Finally, TheStreet lowered Itron from a “buy” rating to a “hold” rating in a research report on Monday, July 25th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $45.14.
The firm has a market cap of $1.85 billion and a P/E ratio of 107.75. The stock’s 50-day moving average price is $44.27 and its 200 day moving average price is $42.08.
Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Thursday, August 11th. The company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.12. During the same period last year, the business earned $0.20 earnings per share. The firm had revenue of $498 million for the quarter, compared to analysts’ expectations of $446.75 million. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities research analysts anticipate that Itron Inc. will post $2.13 earnings per share for the current year.
In other news, Chairman Jon E. Eliassen sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $45.00, for a total transaction of $90,000.00. Following the completion of the sale, the chairman now directly owns 17,492 shares of the company’s stock, valued at approximately $787,140. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
A hedge fund recently raised its stake in Itron stock. KBC Group NV boosted its position in Itron Inc. (NASDAQ:ITRI) by 85.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,635 shares of the company’s stock after buying an additional 54,115 shares during the period. KBC Group NV owned 0.31% of Itron worth $4,256,000 as of its most recent filing with the SEC.
Itron, Inc (Itron) is a technology and service company, offering metering solutions to electric, natural gas, and water utilities around the world. The Company provides solutions that measure, manage, and analyze energy and water use. The Company operates in three segments: Electricity, which is the is the supplier of electricity metering solutions, including standard meters and advanced and smart metering systems; Gas, which is the supplier of gas metering solutions, including standard meters and advanced and smart metering systems, and Water, which is the supplier of standard and advanced water meters and communication modules.
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