Itron (NASDAQ:ITRI) Hits New 52-Week High at $109.88

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

Analyst Upgrades and Downgrades

ITRI has been the topic of several research analyst reports. Stephens raised their target price on Itron from $85.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Monday. TD Cowen boosted their price objective on shares of Itron from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Canaccord Genuity Group raised shares of Itron from a “hold” rating to a “buy” rating and increased their target price for the company from $68.00 to $105.00 in a research report on Tuesday, February 27th. TheStreet upgraded shares of Itron from a “c” rating to a “b-” rating in a research note on Monday, February 26th. Finally, JPMorgan Chase & Co. raised their price objective on Itron from $77.00 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $104.18.

Itron Trading Up 0.7 %

The company has a 50 day simple moving average of $92.61 and a 200 day simple moving average of $78.34. 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 stock has a market capitalization of $5.00 billion, a PE ratio of 31.11, a P/E/G ratio of 1.16 and a beta of 1.38.

Itron (NASDAQ:ITRI) last released its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 EPS for the quarter, topping the consensus estimate of $0.85 by $0.39. Itron had a return on equity of 14.51% and a net margin of 7.03%. The business 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 business earned $0.49 earnings per share. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. Analysts predict that Itron, Inc. will post 3.68 earnings per share for the current fiscal year.

Insider Activity

In other Itron news, SVP Donald L. Reeves III sold 383 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total transaction of $28,866.71. Following the transaction, the senior vice president now owns 8,708 shares in the company, valued at approximately $656,321.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Itron news, SVP Donald L. Reeves III sold 383 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $28,866.71. Following the completion of the sale, the senior vice president now owns 8,708 shares of the company’s stock, valued at $656,321.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Donald L. Reeves III sold 502 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $91.02, for a total transaction of $45,692.04. Following the sale, the senior vice president now owns 16,427 shares in the company, valued at $1,495,185.54. The disclosure for this sale can be found here. Insiders have sold a total of 30,467 shares of company stock valued at $2,752,520 over the last quarter. Corporate insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new stake in shares of Itron in the 4th quarter worth approximately $27,000. Contravisory Investment Management Inc. grew its holdings in Itron by 61.5% in the first 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% 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 during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Itron in the fourth quarter valued at $50,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of Itron during the 4th quarter worth $76,000. 96.19% of the stock is 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.