Itron (NASDAQ:ITRI) Hits New 1-Year High – Here’s What Happened

Itron, Inc. (NASDAQ:ITRIGet Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $115.92 and last traded at $114.34, with a volume of 261950 shares traded. The stock had previously closed at $103.86.

Analysts Set New Price Targets

ITRI has been the subject of several research reports. Stephens reiterated an “equal weight” rating and set a $110.00 price objective on shares of Itron in a research note on Monday, August 5th. 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 report on Thursday, July 11th. TD Cowen boosted their target price on shares of Itron from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. BNP Paribas began coverage on shares of Itron in a research report on Thursday, September 5th. They set an “outperform” rating and a $133.00 target price on the stock. Finally, Roth Mkm reissued a “buy” rating and set a $125.00 target price on shares of Itron in a research report on Wednesday, August 21st. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $119.67.

Read Our Latest Report on ITRI

Itron Stock Up 9.6 %

The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 32.85, a PEG ratio of 0.85 and a beta of 1.47. The stock’s fifty day simple moving average is $103.36 and its two-hundred day simple moving average is $102.34. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.16 and a quick ratio of 2.61.

Itron (NASDAQ:ITRIGet Free Report) last issued its earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.25. The company had revenue of $609.07 million for the quarter, compared to analysts’ expectations of $599.25 million. Itron had a net margin of 7.98% and a return on equity of 16.42%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 earnings per share. On average, sell-side analysts predict that Itron, Inc. will post 4.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total value of $425,210.00. Following the sale, the senior vice president now owns 16,269 shares of the company’s stock, valued at $1,643,169. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Itron news, CEO Thomas Deitrich sold 37,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the transaction, the chief executive officer now owns 205,276 shares of the company’s stock, valued at approximately $21,519,083.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donald L. Reeves III sold 4,210 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the transaction, the senior vice president now directly owns 16,269 shares in the company, valued at approximately $1,643,169. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,276 shares of company stock valued at $4,515,846. Company insiders own 1.45% of the company’s stock.

Hedge Funds Weigh In On Itron

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Itron by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 5,701,337 shares of the scientific and technical instruments company’s stock valued at $527,488,000 after buying an additional 45,909 shares during the period. Handelsbanken Fonder AB increased its stake in Itron by 62.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 899,789 shares of the scientific and technical instruments company’s stock valued at $96,106,000 after buying an additional 346,615 shares during the period. Select Equity Group L.P. grew its stake in shares of Itron by 86.2% in the 2nd quarter. Select Equity Group L.P. now owns 603,877 shares of the scientific and technical instruments company’s stock worth $59,760,000 after purchasing an additional 279,629 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Itron by 2.2% in the 1st quarter. Janus Henderson Group PLC now owns 542,943 shares of the scientific and technical instruments company’s stock worth $50,233,000 after purchasing an additional 11,918 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Itron by 90.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company’s stock worth $54,658,000 after purchasing an additional 243,355 shares during the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

Itron Company Profile

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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.

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