Itron (NASDAQ:ITRI) Hits New 1-Year High After Analyst Upgrade

by · The Markets Daily

Itron, Inc. (NASDAQ:ITRI – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Wednesday after Guggenheim raised their price target on the stock from $128.00 to $135.00. Guggenheim currently has a buy rating on the stock. Itron traded as high as $123.43 and last traded at $121.42, with a volume of 25931 shares changing hands. The stock had previously closed at $117.68.

A number of other analysts have also issued reports on the stock. BNP Paribas initiated 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. Stephens restated an “equal weight” rating and set a $110.00 target price on shares of Itron in a research report on Monday, August 5th. Oppenheimer lifted their price target on shares of Itron from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, November 1st. TD Cowen lifted their price target on shares of Itron from $125.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.92.

Read Our Latest Research Report on ITRI

Insiders Place Their Bets

In other Itron news, CEO Thomas Deitrich sold 887 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $90,607.05. Following the sale, the chief executive officer now directly owns 205,276 shares in the company, valued at approximately $20,968,943.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Joan S. Hooper sold 509 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $51,994.35. Following the completion of the sale, the chief financial officer now owns 72,338 shares in the company, valued at approximately $7,389,326.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Deitrich sold 887 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $90,607.05. Following the completion of the sale, the chief executive officer now owns 205,276 shares of the company’s stock, valued at approximately $20,968,943.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,276 shares of company stock worth $4,515,846. 1.45% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Itron

Several hedge funds have recently made changes to their positions in the company. Covestor Ltd increased its stake in Itron by 26.1% in the 3rd quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock valued at $57,000 after buying an additional 111 shares during the period. Quarry LP increased its stake in Itron by 53.0% in the 2nd quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock valued at $35,000 after buying an additional 122 shares during the period. Hexagon Capital Partners LLC increased its stake in Itron by 85.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock valued at $27,000 after buying an additional 125 shares during the period. Farther Finance Advisors LLC increased its stake in Itron by 21.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock valued at $77,000 after buying an additional 129 shares during the period. Finally, Xponance Inc. increased its stake in Itron by 5.1% in the 2nd quarter. Xponance Inc. now owns 2,910 shares of the scientific and technical instruments company’s stock valued at $288,000 after buying an additional 142 shares during the period. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Itron Trading Up 3.7 %

The company’s 50 day simple moving average is $104.46 and its two-hundred day simple moving average is $103.10. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 0.81 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36.

Itron (NASDAQ:ITRI – Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.13 by $0.71. Itron had a net margin of 9.37% and a return on equity of 19.03%. The company had revenue of $615.46 million for the quarter, compared to analyst estimates of $596.41 million. During the same quarter in the prior year, the business posted $0.98 EPS. Itron’s quarterly revenue was up 9.8% on a year-over-year basis. Research analysts expect that Itron, Inc. will post 5.33 EPS for the current fiscal year.

About Itron

(Get Free Report)

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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