Itron (NASDAQ:ITRI) Sets New 1-Year High - Here's What Happened

Itron, Inc. (NASDAQ:ITRI - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $115.92 and last traded at $114.34, with a volume of 261950 shares changing hands. The stock had previously closed at $103.86.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ITRI. Guggenheim upgraded Itron from a "neutral" rating to a "buy" rating and set a $130.00 price target for the company in a research report on Thursday, July 11th. TD Cowen raised their target price on shares of Itron from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. BNP Paribas initiated coverage on shares of Itron in a report on Thursday, September 5th. They set an "outperform" rating and a $133.00 price target on the stock. Robert W. Baird raised their price objective on shares of Itron from $115.00 to $123.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Finally, Stephens reaffirmed an "equal weight" rating and set a $110.00 target price on shares of Itron in a research note on Monday, August 5th. Four 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, the stock has a consensus rating of "Moderate Buy" and an average target price of $119.67.

Itron Stock Up 7.6 %

The firm has a market cap of $5.13 billion, a P/E ratio of 32.41, a P/E/G ratio of 0.85 and a beta of 1.47. The company has a current ratio of 3.16, a quick ratio of 2.61 and a debt-to-equity ratio of 0.98. The business has a 50-day moving average price of $103.45 and a 200-day moving average price of $102.35.

Itron (NASDAQ:ITRI - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The scientific and technical instruments company reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.25. The company had revenue of $609.07 million during the quarter, compared to the consensus estimate of $599.25 million. Itron had a net margin of 7.98% and a return on equity of 16.42%. Itron's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 earnings per share. On average, equities analysts forecast that Itron, Inc. will post 4.58 EPS for the current fiscal year.

Insider Transactions at Itron

In other Itron news, CEO Thomas Deitrich sold 37,500 shares of Itron stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total value of $3,931,125.00. Following the transaction, the chief executive officer now owns 205,276 shares in the company, valued at $21,519,083.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Donald L. Reeves III sold 4,210 shares of the company's stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the transaction, the senior vice president now directly owns 16,269 shares of the company's stock, valued at approximately $1,643,169. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Deitrich sold 37,500 shares of the firm's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total value of $3,931,125.00. Following the completion of the sale, the chief executive officer now directly owns 205,276 shares of the company's stock, valued at $21,519,083.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 43,276 shares of company stock valued at $4,515,846. Corporate insiders own 1.45% of the company's stock.

Institutional Investors Weigh In On Itron

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ITRI. Commonwealth Equity Services LLC purchased a new stake in shares of Itron during the first quarter worth about $1,076,000. Jupiter Asset Management Ltd. acquired a new position in Itron during the 1st quarter valued at approximately $2,029,000. Sculptor Capital LP purchased a new position in shares of Itron in the second quarter worth $5,255,000. UniSuper Management Pty Ltd acquired a new stake in shares of Itron during the first quarter worth $904,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Itron by 113.0% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 30,988 shares of the scientific and technical instruments company's stock valued at $2,867,000 after buying an additional 16,441 shares during the last quarter. 96.19% of the stock is currently 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.