Why Shares of Itron Stock Jumped 17.4% This Week

Shares of Itron (NASDAQ: ITRI) jumped arsenic overmuch arsenic 18.7% this week, according to information from S&P Global Market Intelligence. The planetary inferior exertion supplier posted beardown second-quarter net and raised its full-year guidance, sending the banal higher.

As of 10:44 AM EST connected Friday, July 31, shares of Itron are up 17.4%. Here's why, and whether present is simply a bully clip to bargain the stock.

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Raised full-year guidance

Itron makes inferior meters and grid quality exertion to assistance negociate the electrical grid. It helps meters negociate energy request volatility, a increasing request amid the existent artificial quality (AI) boom.

This quarter, Itron posted non-GAAP net per stock (EPS) of $1.59, good supra expert expectations of $1.29, and raised its full-year net guidance. Management commentary indicates determination is important request for Itron's products and services for electrical grid stableness arsenic the AI infrastructure build-out continues.

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Should you bargain Itron stock?

After this week's pop, Itron trades astatine conscionable beneath $100. Its full-year EPS guidance is for $6.40 astatine the midpoint, oregon a guardant price-to-earnings ratio (P/E) a interaction supra 15. For anyone who believes the AI gyration volition beryllium a tailwind for Itron, this does not look similar an overly costly banal to bargain close now.

Should you bargain banal successful Itron close now?

Before you bargain banal successful Itron, see this:

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Brett Schafer has nary presumption successful immoderate of the stocks mentioned. The Motley Fool has positions successful and recommends Itron. The Motley Fool has a disclosure policy.

Why Shares of Itron Stock Jumped 17.4% This Week was primitively published by The Motley Fool