Itron (NASDAQ:ITRI) Reaches New 52-Week Low at $43.82

Shares of Itron, Inc. (NASDAQ:ITRIGet Rating) hit a new 52-week low on Thursday . The company traded as low as $43.82 and last traded at $43.82, with a volume of 9547 shares trading hands. The stock had previously closed at $47.07.

A number of research analysts recently weighed in on the stock. Stephens dropped their price objective on shares of Itron from $90.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, March 2nd. StockNews.com upgraded shares of Itron from a “hold” rating to a “buy” rating in a report on Wednesday, May 25th. Wells Fargo & Company dropped their price objective on shares of Itron from $60.00 to $43.00 and set an “equal weight” rating for the company in a report on Tuesday, March 1st. Piper Sandler started coverage on shares of Itron in a report on Thursday, May 12th. They set a “neutral” rating and a $51.00 price target for the company. Finally, TheStreet cut shares of Itron from a “c-” rating to a “d+” rating in a report on Wednesday, March 9th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $73.70.

The firm has a market capitalization of $1.98 billion, a PE ratio of -21.43 and a beta of 1.25. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.24 and a current ratio of 1.58. The company’s fifty day moving average price is $49.64 and its two-hundred day moving average price is $55.21.

Itron (NASDAQ:ITRIGet Rating) last announced its quarterly earnings data on Monday, May 2nd. The scientific and technical instruments company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. The business had revenue of $475.30 million for the quarter, compared to analyst estimates of $488.49 million. Itron had a negative net margin of 4.80% and a positive return on equity of 5.19%. The company’s revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 EPS. On average, equities analysts expect that Itron, Inc. will post 1.28 earnings per share for the current year.

In related news, CFO Joan S. Hooper sold 627 shares of the firm’s stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $49.36, for a total value of $30,948.72. Following the transaction, the chief financial officer now owns 50,409 shares in the company, valued at $2,488,188.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.37% of the company’s stock.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. grew its position in Itron by 3.4% in the fourth quarter. BlackRock Inc. now owns 7,143,476 shares of the scientific and technical instruments company’s stock valued at $489,470,000 after acquiring an additional 234,947 shares in the last quarter. State Street Corp grew its position in shares of Itron by 8.5% during the fourth quarter. State Street Corp now owns 1,606,096 shares of the scientific and technical instruments company’s stock worth $110,050,000 after buying an additional 125,257 shares in the last quarter. Invesco Ltd. grew its position in shares of Itron by 1.6% during the fourth quarter. Invesco Ltd. now owns 1,487,427 shares of the scientific and technical instruments company’s stock worth $101,918,000 after buying an additional 23,017 shares in the last quarter. Allianz Asset Management GmbH grew its stake in Itron by 5.0% during the 4th quarter. Allianz Asset Management GmbH now owns 1,275,976 shares of the scientific and technical instruments company’s stock valued at $87,404,000 after acquiring an additional 61,241 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Itron by 13.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,043,908 shares of the scientific and technical instruments company’s stock valued at $54,994,000 after buying an additional 123,400 shares in the last quarter. 99.15% of the stock is owned by institutional investors.

About Itron (NASDAQ:ITRI)

Itron, Inc, a technology and service company, provides end-to-end solutions that help manage operations in the energy, water, and smart city space worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.

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