The stock of Itron, Inc. (NASDAQ:ITRI) hit a new 52-week high and has $109.53 target or 69.00% above today’s $64.81 share price. The 5 months bullish chart indicates low risk for the $2.55 billion company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $109.53 price target is reached, the company will be worth $1.76B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 204,566 shares traded hands. Itron, Inc. (NASDAQ:ITRI) has risen 60.13% since April 15, 2016 and is uptrending. It has outperformed by 55.51% the S&P500.
Itron, Inc. (NASDAQ:ITRI) Ratings Coverage
Out of 6 analysts covering Itron Inc. (NASDAQ:ITRI), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. Itron Inc. has been the topic of 11 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “” rating by Wedbush given on Tuesday, January 12. The stock of Itron, Inc. (NASDAQ:ITRI) has “Buy” rating given on Monday, October 19 by Canaccord Genuity. Oppenheimer initiated Itron, Inc. (NASDAQ:ITRI) on Friday, September 11 with “Perform” rating. As per Monday, November 14, the company rating was maintained by Needham. Canaccord Genuity maintained Itron, Inc. (NASDAQ:ITRI) on Friday, August 7 with “Hold” rating. As per Wednesday, October 7, the company rating was initiated by Gabelli. The firm has “Outperform” rating given on Thursday, November 3 by Oppenheimer.
According to Zacks Investment Research, “Itron, Inc. provides integrated system solutions for collecting, communicating, analyzing and managing information about energy and water usage. They design, develop, manufacture, market, install and service hardware, software and integrated systems. Their expertise is in providing communications technologies and data management products for automatic meter reading and advanced data collection systems, which systems also include commercial and industrial meter data collection systems, and complex billing and settlement systems for the wholesale energy markets.”
Insitutional Activity: The institutional sentiment decreased to 0.86 in Q2 2016. Its down 0.27, from 1.13 in 2016Q1. The ratio is negative, as 13 funds sold all Itron, Inc. shares owned while 67 reduced positions. 23 funds bought stakes while 46 increased positions. They now own 36.20 million shares or 1.14% less from 36.61 million shares in 2016Q1.
Jpmorgan Chase accumulated 61,752 shares or 0% of the stock. Natixis Asset, a France-based fund reported 7,627 shares. The California-based Firsthand Inc has invested 0.26% in Itron, Inc. (NASDAQ:ITRI). Argent Capital Mgmt Ltd Liability has 57,350 shares for 0.11% of their US portfolio. Voya Investment Lc has invested 0% of its portfolio in Itron, Inc. (NASDAQ:ITRI). State Street Corp has 702,082 shares for 0% of their US portfolio. Ameriprise Fin Incorporated has 0% invested in the company for 183,212 shares. Wedge Capital L L P Nc, a North Carolina-based fund reported 10,638 shares. The Illinois-based Fairpointe Ltd Llc has invested 2.11% in Itron, Inc. (NASDAQ:ITRI). Alpha Windward Ltd Liability Company accumulated 9,660 shares or 0.3% of the stock. Frontier Cap Mgmt Com Lc last reported 1.77M shares in the company. Blackrock Incorporated holds 0% of its portfolio in Itron, Inc. (NASDAQ:ITRI) for 23,340 shares. Moreover, Shinko Asset Mgmt Communication Ltd has 0% invested in Itron, Inc. (NASDAQ:ITRI) for 7,676 shares. Blackrock Investment Limited Liability Company last reported 157,402 shares in the company. First Mercantile Tru has invested 0.08% of its portfolio in Itron, Inc. (NASDAQ:ITRI).
Insider Transactions: Since June 6, 2016, the stock had 2 buys, and 9 insider sales for $3.62 million net activity. Shares for $117,300 were sold by GLANVILLE THOMAS S. 3,000 Itron, Inc. (NASDAQ:ITRI) shares with value of $179,150 were sold by ELIASSEN JON E. On Monday, September 12 SCOPIA CAPITAL MANAGEMENT LP bought $4.48M worth of the stock or 83,303 shares. $22,216 worth of shares were sold by Schmitz William Mark on Monday, September 19. The insider Pelino Daniel S bought $135,738.
ITRI Company Profile
Itron, Inc. (Itron), incorporated on December 1, 1977, is a technology and service company. The Firm provides solutions that measure, manage, and analyze energy and water use. The Firm operates through three divisions: Electricity, Gas and Water. It provides a portfolio of products, solutions, software and services to electric, gas, and water utility clients across the globe. It offers solutions that enable electric and natural gas utilities to build smart grids to manage assets. The Company’s solutions include standard meters and smart metering products, metering systems, and services. It offers product portfolio for applications in the residential and commercial industrial markets for water and heat. The Firm operates under the Itron brand across the world. The Company’s Gas and Water manufacturing facilities are located throughout the world, while its Electricity manufacturing facilities are located in Europe, Middle East and Africa (EMEA), and North America.
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