Itron (NASDAQ:ITRI) Sets New 52-Week High at $97.84

Itron, Inc. (NASDAQ:ITRI)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $97.84 and last traded at $96.09, with a volume of 79081 shares. The stock had previously closed at $94.39.

Wall Street Analysts Forecast Growth

ITRI has been the topic of a number of recent research reports. Canaccord Genuity Group raised shares of Itron from a “hold” rating to a “buy” rating and upped their price target for the company from $68.00 to $105.00 in a research note on Tuesday, February 27th. Oppenheimer upgraded Itron from a “market perform” rating to an “outperform” rating and set a $81.00 price target for the company in a research report on Friday, January 19th. Robert W. Baird lifted their price target on shares of Itron from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. upped their target price on Itron from $77.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Finally, TheStreet upgraded Itron from a “c” rating to a “b-” rating in a report on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $97.60.

Itron Price Performance

The firm has a fifty day simple moving average of $89.76 and a 200 day simple moving average of $76.04. The company has a market capitalization of $4.39 billion, a PE ratio of 45.60, a P/E/G ratio of 1.05 and a beta of 1.41. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.43 and a current ratio of 1.95.

Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Monday, February 26th. The scientific and technical instruments company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.48. The business had revenue of $577.17 million for the quarter, compared to the consensus estimate of $569.90 million. Itron had a return on equity of 12.27% and a net margin of 4.46%. The business’s revenue was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.71 EPS. Equities analysts anticipate that Itron, Inc. will post 3.61 EPS for the current year.

Insider Buying and Selling at Itron

In other news, Director Jerome J. Lande sold 14,896 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $95.25, for a total value of $1,418,844.00. Following the completion of the sale, 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 SEC, which is available at the SEC website. In related news, SVP Donald L. Reeves III sold 502 shares of the company’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 completion of the sale, the senior vice president now directly owns 16,427 shares in the company, valued at approximately $1,495,185.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jerome J. Lande sold 14,896 shares of Itron stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $95.25, for a total value of $1,418,844.00. Following the completion of the transaction, the director now owns 5,750 shares in the company, valued at approximately $547,687.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,467 shares of company stock valued at $2,752,520. Company insiders own 1.45% of the company’s stock.

Institutional Trading of Itron

Several hedge funds have recently modified their holdings of ITRI. GAMMA Investing LLC bought a new position in shares of Itron during the 4th quarter worth approximately $27,000. Contravisory Investment Management Inc. increased its position 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 in the last quarter. Covestor Ltd lifted its holdings in shares of Itron by 9,150.0% during the 3rd 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 acquired a new stake in shares of Itron in the 4th quarter worth $50,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in 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.