Itron (NASDAQ:ITRI) Hits New 1-Year High at $109.88

Itron, Inc. (NASDAQ:ITRI)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $109.88 and last traded at $109.79, with a volume of 100213 shares traded. The stock had previously closed at $108.25.

Analyst Ratings Changes

Several research firms have commented on ITRI. Oppenheimer increased their target price on shares of Itron from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. TD Cowen raised their price objective on Itron from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. boosted their target price on Itron from $77.00 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. Piper Sandler reiterated an “overweight” rating and set a $109.00 price target (up previously from $103.00) on shares of Itron in a report on Friday, May 3rd. Finally, Canaccord Genuity Group lifted their price target on shares of Itron from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $104.18.

Itron Stock Up 0.7 %

The firm’s 50-day simple moving average is $92.61 and its 200-day simple moving average is $78.34. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.40 and a current ratio of 1.90. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 31.11, a price-to-earnings-growth ratio of 1.16 and a beta of 1.38.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $579.49 million. During the same quarter in the prior year, the company posted $0.49 EPS. The business’s revenue was up 22.0% on a year-over-year basis. Sell-side analysts forecast that Itron, Inc. will post 3.68 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Joan S. Hooper sold 1,560 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total transaction of $117,577.20. Following the completion of the sale, the chief financial officer now directly 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 SEC, which is available at this link. In other Itron news, Director Jerome J. Lande sold 14,896 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the transaction, the director now owns 5,750 shares in the company, valued at approximately $547,687.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Joan S. Hooper sold 1,560 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $117,577.20. Following the completion of the sale, the chief financial officer now owns 60,141 shares of the company’s stock, valued at $4,532,827.17. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,467 shares of company stock valued at $2,752,520. Insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ITRI. GAMMA Investing LLC acquired a new position in shares of Itron during the 4th quarter valued at $27,000. Contravisory Investment Management Inc. boosted its stake in Itron by 61.5% during the 1st quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock valued at $32,000 after purchasing an additional 131 shares during the last quarter. Covestor Ltd grew its holdings in Itron by 9,150.0% during the third quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 549 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Itron in the fourth quarter valued at about $50,000. Finally, C M Bidwell & Associates Ltd. bought a new position in shares of Itron during the 4th quarter worth approximately $76,000. Institutional investors and hedge funds own 96.19% of the company’s stock.

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.