Itron (NASDAQ:ITRI) Reaches New 12-Month High at $97.84

Shares of Itron, Inc. (NASDAQ:ITRI) reached a new 52-week high on Friday . The company traded as high as $97.84 and last traded at $96.09, with a volume of 79081 shares changing hands. The stock had previously closed at $94.39.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ITRI shares. Raymond James lowered shares of Itron from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 4th. Robert W. Baird upped their price target on shares of Itron from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. Piper Sandler reduced their target price on Itron from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday, April 11th. Oppenheimer upgraded Itron from a “market perform” rating to an “outperform” rating and set a $81.00 target price on the stock in a research note on Friday, January 19th. Finally, Canaccord Genuity Group upgraded Itron from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $105.00 in a research report on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Itron currently has an average rating of “Moderate Buy” and a consensus target price of $97.60.

Itron Stock Performance

The company has a market cap of $4.39 billion, a P/E ratio of 45.60, a price-to-earnings-growth ratio of 1.05 and a beta of 1.41. The company’s fifty day moving average is $89.76 and its 200 day moving average is $76.04. The company has a current ratio of 1.95, a quick ratio of 1.43 and a debt-to-equity ratio of 0.34.

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, beating the consensus estimate of $0.75 by $0.48. Itron had a net margin of 4.46% and a return on equity of 12.27%. The business had revenue of $577.17 million during the quarter, compared to analyst estimates of $569.90 million. During the same period in the prior year, the business posted $0.71 earnings per share. The company’s revenue was up 23.5% on a year-over-year basis. As a group, equities analysts predict that Itron, Inc. will post 3.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Itron

In other news, SVP Donald L. Reeves III sold 383 shares of the firm’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 $28,866.71. Following the transaction, the senior vice president now owns 8,708 shares in the company, valued at $656,321.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Thomas Deitrich sold 1,912 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total transaction of $144,107.44. Following the transaction, the chief executive officer now owns 169,073 shares in the company, valued at approximately $12,743,032.01. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Donald L. Reeves III sold 383 shares of the stock in a transaction that occurred 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 approximately $656,321.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,467 shares of company stock worth $2,752,520. 1.45% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Itron

Hedge funds have recently made changes to their positions in the business. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in Itron in the first quarter valued at $1,573,000. Assenagon Asset Management S.A. lifted its position in shares of Itron by 32.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 248,992 shares of the scientific and technical instruments company’s stock worth $23,037,000 after purchasing an additional 60,635 shares during the period. AlphaMark Advisors LLC bought a new stake in shares of Itron during the 1st quarter valued at about $373,000. Oliver Luxxe Assets LLC purchased a new position in shares of Itron during the first quarter valued at about $768,000. Finally, Contravisory Investment Management Inc. raised its stake 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 worth $32,000 after buying an additional 131 shares in the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

Itron Company Profile

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.