Itron (NASDAQ:ITRI) Hits New 12-Month High at $82.54

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Itron, Inc. (NASDAQ:ITRI) hit a new 52-week high on Wednesday . The company traded as high as $82.54 and last traded at $82.34, with a volume of 627 shares. The stock had previously closed at $81.20.

Several equities analysts have recently issued reports on the company. Robert W. Baird upped their target price on Itron from $80.00 to $86.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. ValuEngine downgraded Itron from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Credit Suisse Group lowered Itron to an “outperform” rating in a report on Tuesday, August 20th. Raymond James boosted their price objective on Itron from $75.00 to $82.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Oppenheimer upped their price objective on Itron from $75.00 to $90.00 in a research note on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Itron presently has a consensus rating of “Buy” and a consensus target price of $77.90.

The company has a quick ratio of 1.07, a current ratio of 1.41 and a debt-to-equity ratio of 1.31. The firm has a 50 day moving average of $77.81 and a 200 day moving average of $68.37. The firm has a market cap of $3.17 billion, a PE ratio of 31.04, a P/E/G ratio of 1.04 and a beta of 1.09.

Itron (NASDAQ:ITRI) last released its earnings results on Monday, November 4th. The scientific and technical instruments company reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.38. Itron had a return on equity of 18.69% and a net margin of 2.37%. The business had revenue of $624.47 million during the quarter, compared to the consensus estimate of $622.63 million. During the same period last year, the business posted $1.13 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, research analysts anticipate that Itron, Inc. will post 3.09 EPS for the current year.

In other news, Director Thomas S. Glanville sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $75.10, for a total value of $75,100.00. Following the sale, the director now owns 11,056 shares of the company’s stock, valued at $830,305.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Sarah E. Hlavinka sold 3,195 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $73.33, for a total transaction of $234,289.35. Following the sale, the senior vice president now owns 13,929 shares in the company, valued at $1,021,413.57. The disclosure for this sale can be found here. Insiders have sold a total of 74,667 shares of company stock valued at $5,385,885 in the last quarter. 2.35% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in shares of Itron by 113.9% in the second quarter. Bank of New York Mellon Corp now owns 898,225 shares of the scientific and technical instruments company’s stock worth $56,201,000 after acquiring an additional 478,329 shares during the period. Prudential Financial Inc. boosted its stake in Itron by 571.9% in the 2nd quarter. Prudential Financial Inc. now owns 370,833 shares of the scientific and technical instruments company’s stock worth $23,203,000 after purchasing an additional 315,640 shares during the period. Nuveen Asset Management LLC bought a new position in Itron in the 2nd quarter worth about $19,288,000. Castleark Management LLC bought a new position in Itron in the 2nd quarter worth about $11,577,000. Finally, Teacher Retirement System of Texas grew its holdings in Itron by 88.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 388,331 shares of the scientific and technical instruments company’s stock valued at $24,298,000 after buying an additional 182,722 shares in the last quarter. Institutional investors and hedge funds own 95.19% of the company’s stock.

Itron Company Profile (NASDAQ:ITRI)

Itron, Inc, a technology and service company, provides end-to-end solutions that measures, manages, and analyzes energy and water use 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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