Itron (NASDAQ:ITRI) Hits New 52-Week High at $97.84

Itron, Inc. (NASDAQ:ITRI - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $97.84 and last traded at $96.09, with a volume of 79081 shares changing hands. The stock had previously closed at $94.39.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Raymond James cut Itron from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 4th. Canaccord Genuity Group upgraded Itron from a "hold" rating to a "buy" rating and boosted their target price for the stock from $68.00 to $105.00 in a research note on Tuesday, February 27th. Canaccord Genuity Group upgraded Itron from a "hold" rating to a "buy" rating and boosted their target price for the stock from $68.00 to $105.00 in a research note on Tuesday, February 27th. Robert W. Baird lifted their price target on Itron from $108.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 13th. Finally, TheStreet raised Itron from a "c" rating to a "b-" rating in a research report on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $97.60.

Itron Stock Performance

The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 45.60, a price-to-earnings-growth ratio of 1.05 and a beta of 1.41. The company has a quick ratio of 1.43, a current ratio of 1.95 and a debt-to-equity ratio of 0.34. The stock has a fifty day moving average price of $89.37 and a 200-day moving average price of $75.78.

Itron (NASDAQ:ITRI - Get Free Report) last released its earnings results on Monday, February 26th. The scientific and technical instruments company reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.48. The business had revenue of $577.17 million for the quarter, compared to analyst estimates of $569.90 million. Itron had a return on equity of 12.27% and a net margin of 4.46%. The company's revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 earnings per share. On average, analysts expect that Itron, Inc. will post 3.61 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jerome J. Lande sold 14,896 shares of the business's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $95.25, for a total value of $1,418,844.00. Following the transaction, the director now owns 5,750 shares of the company's stock, valued at $547,687.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Itron news, Director Jerome J. Lande sold 14,896 shares of the business's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the sale, the director now directly owns 5,750 shares in the company, valued at $547,687.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Deitrich sold 1,912 shares of the business's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $144,107.44. Following the sale, the chief executive officer now owns 169,073 shares in the company, valued at $12,743,032.01. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,467 shares of company stock valued at $2,752,520. Company insiders own 1.45% of the company's stock.

Institutional Trading of Itron

Large investors have recently made changes to their positions in the stock. Contravisory Investment Management Inc. boosted its stake in shares of Itron by 61.5% during the first quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company's stock valued at $32,000 after acquiring an additional 131 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Itron during the fourth quarter valued at $27,000. Covestor Ltd boosted its stake in shares of Itron by 9,150.0% during the third quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company's stock valued at $34,000 after acquiring an additional 549 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Itron during the fourth quarter valued at $50,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Itron in the 4th quarter worth about $76,000. Institutional investors and hedge funds own 96.19% of the company's stock.

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.