Itron Inc. [NASDAQ: ITRI] loss -15.63% on the last trading session, reaching $93.62 price per share at the time. The company report on March 9, 2021 that Itron Announces Launch of Follow-On Public Offering.
Itron, Inc. (NASDAQ: ITRI) (the “Company”), which is innovating the way utilities and cities manage energy and water, announced that it has commenced an underwritten public offering, subject to market and other conditions, of $350 million of shares of common stock of the Company. The Company intends to grant to the underwriters an option to purchase up to $52.5 million of additional shares. The Company intends to use the net proceeds from the offering, together with cash on hand, to repay outstanding term loan borrowings under its credit facility that was initially entered into on January 5, 2018, and to pay all fees and expenses related to the offering and such repayment.
The Company also announced by separate press release that it has commenced a private offering to eligible purchasers of $400 million aggregate principal amount of convertible notes due 2026 (or up to $460.0 million aggregate principal amount if the initial purchasers exercise in full their option to purchase additional convertible notes). Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy the convertible notes. The closing of the offering of shares is not contingent upon the closing of the offering of the convertible notes (or vice versa).
Itron Inc. represents 40.41 million in outstanding shares, while the company has a total market value of $3.92 billion with the latest information. ITRI stock price has been found in the range of $93.455 to $103.54.
If compared to the average trading volume of 390.26K shares, ITRI reached a trading volume of 2299778 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Itron Inc. [ITRI]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ITRI shares is $122.44 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ITRI stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Argus have made an estimate for Itron Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 03, 2021. While these analysts kept the previous recommendation, Raymond James dropped their target price from $78 to $110. The new note on the price target was released on January 08, 2021, representing the official price target for Itron Inc. stock. Previously, the target price had yet another raise to $85, while Stephens analysts kept a Overweight rating on ITRI stock.
The Average True Range (ATR) for Itron Inc. is set at 6.09, with the Price to Sales ratio for ITRI stock in the period of the last 12 months amounting to 1.81. The Price to Book ratio for the last quarter was 4.63, with the Price to Cash per share for the same quarter was set at 4.94. Price to Free Cash Flow for ITRI in the course of the last twelve months was 61.98 with Quick ratio for the last quarter at 1.40.
Trading performance analysis for ITRI stock
Itron Inc. [ITRI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.49. With this latest performance, ITRI shares dropped by -3.91% in over the last four-week period, additionally plugging by 58.33% over the last 6 months – not to mention a rise of 39.54% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ITRI stock in for the last two-week period is set at 37.09, with the RSI for the last a single of trading hit 28.93, and the three-weeks RSI is set at 42.23 for Itron Inc. [ITRI]. The present Moving Average for the last 50 days of trading for this stock 101.31, while it was recorded at 110.14 for the last single week of trading, and 76.94 for the last 200 days.
Itron Inc. [ITRI]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Itron Inc. [ITRI] shares currently have an operating margin of +4.08 and a Gross Margin at +25.71. Itron Inc.’s Net Margin is presently recorded at -2.67.
Return on Total Capital for ITRI is now 4.84, given the latest momentum, and Return on Invested Capital for the company is -3.25. Return on Equity for this stock declined to -7.28, with Return on Assets sitting at -2.18. When it comes to the capital structure of this company, Itron Inc. [ITRI] has a Total Debt to Total Equity ratio set at 122.96. Additionally, ITRI Total Debt to Total Capital is recorded at 55.15, with Total Debt to Total Assets ending up at 38.51. Long-Term Debt to Equity for the company is recorded at 118.72, with the Long-Term Debt to Total Capital now at 53.25.
Reflecting on the efficiency of the workforce at the company, Itron Inc. [ITRI] managed to generate an average of -$8,587 per employee. Receivables Turnover for the company is 5.16 with a Total Asset Turnover recorded at a value of 0.82.Itron Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.70.
Itron Inc. [ITRI]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Itron Inc. posted 0.57/share EPS, while the average EPS was predicted by analysts to be reported at 0.56/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 1.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ITRI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Itron Inc. go to 25.00%.
An analysis of insider ownership at Itron Inc. [ITRI]
There are presently around $3,711 million, in the hands of institutional investors. The top three institutional holders of ITRI stocks are: BLACKROCK INC. with ownership of 6,167,292, which is approximately 6.201% of the company’s market cap and around 0.90% of the total institutional ownership; VANGUARD GROUP INC, holding 4,141,099 shares of the stock with an approximate value of $387.69 million in ITRI stocks shares; and IMPAX ASSET MANAGEMENT GROUP PLC, currently with $245.13 million in ITRI stock with ownership of nearly -3.584% of the company’s market capitalization.
Positions in Itron Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 132 institutional holders increased their position in Itron Inc. [NASDAQ:ITRI] by around 4,521,738 shares. Additionally, 113 investors decreased positions by around 4,072,022 shares, while 29 investors held positions by with 31,039,910 shares. The mentioned changes placed institutional holdings at 39,633,670 shares, according to the latest SEC report filing. ITRI stock had 43 new institutional investments in for a total of 544,390 shares, while 33 institutional investors sold positions of 1,768,887 shares during the same period.