Itron (NASDAQ:ITRI) Lowered to “Hold” Rating by Zacks Research

Zacks Research cut shares of Itron (NASDAQ:ITRI) from a strong-buy rating to a hold rating in a research report released on Wednesday morning,Zacks.com reports.

A number of other research analysts have also weighed in on the company. Stephens raised Itron from an “equal weight” rating to an “overweight” rating and set a $130.00 price objective for the company in a research report on Monday, November 3rd. Robert W. Baird reaffirmed a “neutral” rating and issued a $118.00 price target (down previously from $137.00) on shares of Itron in a research report on Friday, October 31st. Baird R W downgraded shares of Itron from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. JPMorgan Chase & Co. lifted their target price on shares of Itron from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Finally, Johnson Rice lowered shares of Itron from a “buy” rating to an “accumulate” rating in a report on Friday, August 1st. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $139.00.

Itron Trading Down 1.0%

Shares of NASDAQ ITRI traded down $1.01 during trading hours on Wednesday, hitting $98.46. The company’s stock had a trading volume of 1,291,260 shares, compared to its average volume of 681,856. Itron has a 12 month low of $90.11 and a 12 month high of $142.00. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 16.83, a P/E/G ratio of 0.76 and a beta of 1.52. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.75 and a current ratio of 2.04. The business has a 50-day simple moving average of $121.39 and a 200-day simple moving average of $122.95.

Itron (NASDAQ:ITRI) last released its quarterly earnings data on Thursday, October 30th. The scientific and technical instruments company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.06. Itron had a return on equity of 19.69% and a net margin of 11.05%.The business had revenue of $581.63 million during the quarter, compared to analysts’ expectations of $578.49 million. During the same quarter last year, the business posted $1.84 EPS. The business’s revenue was down 5.5% on a year-over-year basis. Itron has set its FY 2025 guidance at 6.840-6.940 EPS. Q4 2025 guidance at 2.150-2.250 EPS. On average, analysts anticipate that Itron will post 5.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Itron

In related news, SVP Justin K. Patrick sold 388 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $125.31, for a total transaction of $48,620.28. Following the completion of the sale, the senior vice president directly owned 20,761 shares in the company, valued at approximately $2,601,560.91. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Joan S. Hooper sold 970 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $125.31, for a total transaction of $121,550.70. Following the sale, the chief financial officer directly owned 88,394 shares of the company’s stock, valued at approximately $11,076,652.14. This represents a 1.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 3,037 shares of company stock worth $380,566. 1.51% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Itron

A number of hedge funds have recently modified their holdings of the business. Impax Asset Management Group plc raised its holdings in Itron by 127.3% in the 3rd quarter. Impax Asset Management Group plc now owns 1,588,950 shares of the scientific and technical instruments company’s stock worth $197,153,000 after purchasing an additional 890,040 shares during the period. Norges Bank bought a new stake in Itron during the second quarter valued at about $71,727,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 buying an additional 413,487 shares in the last quarter. Merewether Investment Management LP raised its stake in shares of Itron by 1,552.7% in the second quarter. Merewether Investment Management LP now owns 300,787 shares of the scientific and technical instruments company’s stock worth $39,593,000 after buying an additional 282,587 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Itron by 42.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 604,580 shares of the scientific and technical instruments company’s stock valued at $75,306,000 after buying an additional 180,366 shares in the last quarter. Institutional investors 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.