Itron (NASDAQ:ITRI) Hits New 12-Month High on Analyst Upgrade

Shares of Itron, Inc. (NASDAQ:ITRI - Get Free Report) reached a new 52-week high 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. The stock had previously closed at $125.70.

Several other analysts have also commented on the stock. Wall Street Zen lowered shares of Itron from a "buy" rating to a "hold" rating in a research report on Sunday, June 1st. Canaccord Genuity Group boosted their target price on shares of Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Piper Sandler lowered their target price on Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Guggenheim restated a "buy" rating and set a $133.00 price objective on shares of Itron in a research note on Thursday, April 17th. Finally, Oppenheimer raised their price objective on shares of Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Itron has an average rating of "Moderate Buy" and an average price target of $128.18.

Insider Activity

In other Itron news, SVP Justin K. Patrick sold 9,036 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 21,149 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary C. Hemmingsen sold 5,150 shares of Itron stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $108.70, for a total transaction of $559,805.00. Following the completion of the sale, the director now owns 952 shares of the company's stock, valued at $103,482.40. This represents a 84.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 20,905 shares of company stock worth $2,439,202. 1.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Itron

Several large investors have recently added to or reduced their stakes in the business. Strs Ohio bought a new stake in Itron in the 1st quarter worth $430,000. Intech Investment Management LLC increased its holdings in Itron by 17.7% in the 1st quarter. Intech Investment Management LLC now owns 48,699 shares of the scientific and technical instruments company's stock worth $5,102,000 after buying an additional 7,336 shares in the last quarter. Bayforest Capital Ltd grew its position in Itron by 43.9% in the 1st quarter. Bayforest Capital Ltd now owns 3,980 shares of the scientific and technical instruments company's stock worth $417,000 after purchasing an additional 1,215 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Itron by 129.7% in the first 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 purchasing an additional 413,487 shares during the last quarter. Finally, Optimize Financial Inc grew its position in Itron by 2.7% during the first quarter. Optimize Financial Inc now owns 17,570 shares of the scientific and technical instruments company's stock valued at $1,841,000 after buying an additional 463 shares during the period. Institutional investors own 96.19% of the company's stock.

Itron Trading Up 1.2%

The stock has a fifty day moving average of $115.81 and a 200 day moving average of $108.64. The company has a market capitalization of $6.05 billion, a P/E ratio of 24.23, a PEG ratio of 0.83 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 data on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.22. Itron had a return on equity of 19.65% and a net margin of 10.34%. The business had revenue of $607.15 million for the quarter, compared to the consensus estimate of $608.86 million. During the same quarter in the previous year, the company posted $1.24 EPS. The company's revenue was up .6% compared to the same quarter last year. As a group, equities research analysts anticipate that Itron, Inc. will post 5.33 EPS for the current fiscal 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.