Itron (NASDAQ:ITRI) Sets New 12-Month High Following Analyst Upgrade

Itron, Inc. (NASDAQ:ITRI - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday after TD Cowen raised their price target on the stock from $139.00 to $145.00. TD Cowen currently has a buy rating on the stock. Itron traded as high as $129.83 and last traded at $127.28, with a volume of 1053317 shares trading hands. The stock had previously closed at $125.70.

A number of other equities research analysts have also recently commented on ITRI. Guggenheim reiterated a "buy" rating and issued a $133.00 target price on shares of Itron in a research report on Thursday, April 17th. Oppenheimer raised their target price on shares of Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Wall Street Zen cut Itron from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. Piper Sandler reduced their price objective on Itron from $124.00 to $121.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Finally, Canaccord Genuity Group upped their target price on Itron from $130.00 to $132.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Itron has an average rating of "Moderate Buy" and a consensus target price of $128.18.

Insider Activity

In related news, SVP Donald L. Reeves III sold 529 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $114.95, for a total transaction of $60,808.55. Following the completion of the transaction, the senior vice president now owns 20,151 shares in the company, valued at approximately $2,316,357.45. The trade was a 2.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Christopher E. Ware sold 339 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were 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. This represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,905 shares of company stock worth $2,439,202. Corporate insiders own 1.51% of the company's stock.

Institutional Trading of Itron

Several institutional investors have recently modified their holdings of ITRI. Sowell Financial Services LLC purchased a new stake in Itron in the first quarter valued at approximately $266,000. Intech Investment Management LLC increased its holdings in shares of Itron by 112.7% in the 4th quarter. Intech Investment Management LLC now owns 41,363 shares of the scientific and technical instruments company's stock valued at $4,491,000 after acquiring an additional 21,919 shares during the period. Wellington Management Group LLP raised its position in Itron by 180.7% in the 4th quarter. Wellington Management Group LLP now owns 333,363 shares of the scientific and technical instruments company's stock valued at $36,197,000 after purchasing an additional 214,600 shares during the last quarter. HighTower Advisors LLC boosted its stake in Itron by 143.2% during the 4th quarter. HighTower Advisors LLC now owns 7,355 shares of the scientific and technical instruments company's stock worth $799,000 after purchasing an additional 4,331 shares during the period. Finally, Schroder Investment Management Group grew its position in Itron by 42.1% during the 4th quarter. Schroder Investment Management Group now owns 253,526 shares of the scientific and technical instruments company's stock worth $27,528,000 after purchasing an additional 75,166 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company's stock.

Itron Trading Up 1.2%

The business's 50 day simple moving average is $113.47 and its 200 day simple moving average is $108.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.93 and a quick ratio of 1.65. The company has a market capitalization of $5.80 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 0.81 and a beta of 1.33.

Itron (NASDAQ:ITRI - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share (EPS) 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 firm had revenue of $607.15 million for the quarter, compared to analysts' expectations of $608.86 million. During the same quarter in the previous year, the firm posted $1.24 EPS. The firm's revenue for the quarter was up .6% on a year-over-year basis. Research analysts anticipate that Itron, Inc. will post 5.33 EPS for the current year.

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.

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