Itron (NASDAQ:ITRI) Stock Crosses Above 200 Day Moving Average – Here’s Why

Shares of Itron, Inc. (NASDAQ:ITRI) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $91.10 and traded as high as $95.00. Itron shares last traded at $94.55, with a volume of 1,338,556 shares trading hands.

More Itron News

Here are the key news stories impacting Itron this week:

• Positive Sentiment: Strong Q3 performance supports the stock: Itron reported third-quarter revenue of approximately $599.3 million and net income of $71.4 million. Adjusted EPS of $1.94 exceeded the $1.56 consensus estimate, while revenue also topped expectations. Reports highlighted margin strength and raised guidance, reinforcing the view that profitability is improving. Itron Stock Jumps as Q3 Earnings Showcase Margin Strength
• Positive Sentiment: Analyst targets remain well above the current market level: Needham raised its price target to $137 from $128 and maintained a “buy” rating, while JPMorgan increased its target to $109 from $107 and retained an “overweight” rating. Needham Itron Rating JPMorgan Itron Rating
• Positive Sentiment: Consensus expectations suggest additional upside: A Zacks analysis said the average analyst price target implies roughly 36% upside. Although price targets are imperfect indicators, broad upward earnings-estimate revisions are viewed as a more constructive signal. Wall Street Analysts See Upside in Itron
• Neutral Sentiment: Itron will participate in the Baird Global Industrial Conference on Nov. 11, potentially providing investors with updates on strategy, cash deployment and its utility technology markets, but no new financial information was announced. Itron Announces Participation at Upcoming Investor Conferences
• Negative Sentiment: BNP Paribas Exane lowered its price target to $105 from $115, although it retained an “outperform” rating. The cut introduces a cautionary signal amid otherwise positive analyst commentary. Itron Price Target Lowered by BNP Paribas Exane

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ITRI shares. Robert W. Baird set a $125.00 target price on shares of Itron in a report on Wednesday, July 29th. JPMorgan Chase & Co. lifted their price target on Itron from $107.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday. Zacks Research downgraded Itron from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Weiss Ratings lowered Itron from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Wednesday. Finally, Needham & Company LLC raised their price objective on Itron from $128.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday. Nine analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Itron currently has an average rating of “Moderate Buy” and a consensus target price of $129.20.

Itron Stock Up 2.3%

The firm has a market cap of $4.15 billion, a P/E ratio of 15.81, a P/E/G ratio of 1.05 and a beta of 1.32. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.29 and a current ratio of 2.75. The firm’s fifty day moving average is $91.19 and its 200 day moving average is $91.07.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Tuesday, October 27th. The scientific and technical instruments company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.38. The business had revenue of $599.33 million for the quarter, compared to analyst estimates of $595.50 million. Itron had a net margin of 11.90% and a return on equity of 19.26%. Itron’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.54 EPS. As a group, equities research analysts anticipate that Itron, Inc. will post 6.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Itron

In related news, SVP John Marcolini sold 331 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $98.79, for a total transaction of $32,699.49. Following the sale, the senior vice president owned 12,683 shares of the company’s stock, valued at $1,252,953.57. This represents a 2.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Justin K. Patrick sold 10,210 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $97.36, for a total value of $994,045.60. Following the sale, the senior vice president directly owned 22,065 shares in the company, valued at $2,148,248.40. This represents a 31.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 17,903 shares of company stock valued at $1,753,521 in the last three months. 1.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Itron

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in Itron by 20.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,536,081 shares of the scientific and technical instruments company’s stock valued at $137,659,000 after purchasing an additional 265,039 shares in the last quarter. First Trust Advisors LP increased its holdings in Itron by 22.2% in the 1st quarter. First Trust Advisors LP now owns 969,228 shares of the scientific and technical instruments company’s stock valued at $86,872,000 after buying an additional 176,053 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Itron by 12.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 673,420 shares of the scientific and technical instruments company’s stock valued at $60,359,000 after buying an additional 73,020 shares in the last quarter. Jupiter Topco LLC acquired a new position in shares of Itron in the 2nd quarter valued at approximately $42,466,000. Finally, Renaissance Technologies LLC raised its position in shares of Itron by 10.1% in the 1st quarter. Renaissance Technologies LLC now owns 461,761 shares of the scientific and technical instruments company’s stock valued at $41,388,000 after buying an additional 42,300 shares in the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

About Itron

Itron, Inc is a technology company that provides solutions to utilities and cities for managing electricity, natural gas, and water resources. Its offerings help organizations measure consumption, collect and analyze data, improve operational efficiency, and support more reliable and sustainable delivery of essential services.

The company’s portfolio includes smart meters, advanced metering infrastructure, communications networks, sensors, data management systems, and utility software.