Itron (NASDAQ:ITRI) Reaches New 12-Month High - Should You Buy?

Itron, Inc. (NASDAQ:ITRI - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $125.00 and last traded at $124.65, with a volume of 99257 shares changing hands. The stock had previously closed at $121.96.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ITRI. Piper Sandler lowered their target price on Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Oppenheimer increased their target price on Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Wall Street Zen downgraded Itron from a "buy" rating to a "hold" rating in a research report on Sunday, June 1st. Canaccord Genuity Group increased their target price on Itron from $130.00 to $132.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Finally, Guggenheim reiterated a "buy" rating and set a $133.00 target price on shares of Itron in a research report on Thursday, April 17th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $127.36.

Itron Stock Up 1.0%

The company has a fifty day moving average of $112.93 and a two-hundred day moving average of $108.15. The company has a market cap of $5.73 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 0.80 and a beta of 1.33. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.65 and a current ratio of 1.93.

Itron (NASDAQ:ITRI - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.22. Itron had a return on equity of 19.65% and a net margin of 10.34%. The company had revenue of $607.15 million for the quarter, compared to analyst estimates of $608.86 million. During the same quarter in the prior year, the firm posted $1.24 EPS. Itron's quarterly revenue was up .6% compared to the same quarter last year. As a group, analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Itron news, SVP Justin K. Patrick sold 9,036 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $121.77, for a total value of $1,100,313.72. Following the sale, the senior vice president now owns 21,149 shares in the company, valued at $2,575,313.73. This trade represents a 29.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Christopher E. Ware sold 339 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total value of $38,968.05. Following the completion of the sale, the senior vice president now owns 19,468 shares in the company, valued at approximately $2,237,846.60. The trade was a 1.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,905 shares of company stock worth $2,439,202 over the last quarter. Company insiders own 1.45% of the company's stock.

Institutional Trading of Itron

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Invesco Ltd. increased its stake in Itron by 2.7% in the first quarter. Invesco Ltd. now owns 2,310,769 shares of the scientific and technical instruments company's stock worth $242,076,000 after purchasing an additional 59,962 shares during the period. Amundi grew its position in shares of Itron by 18.4% during the 1st quarter. Amundi now owns 929,407 shares of the scientific and technical instruments company's stock worth $97,313,000 after buying an additional 144,361 shares in the last quarter. First Trust Advisors LP grew its position in shares of Itron by 9.1% during the 4th quarter. First Trust Advisors LP now owns 802,584 shares of the scientific and technical instruments company's stock worth $87,145,000 after buying an additional 66,637 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Itron by 129.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 732,274 shares of the scientific and technical instruments company's stock worth $76,713,000 after buying an additional 413,487 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Itron during the 4th quarter worth $64,615,000. Hedge funds and other institutional investors own 96.19% of the company's stock.

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.