Zacks Research Downgrades Itron (NASDAQ:ITRI) to Hold

Itron (NASDAQ:ITRI) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

ITRI has been the topic of several other research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Itron in a research note on Wednesday, October 8th. Oppenheimer set a $145.00 price target on Itron and gave the company an “outperform” rating in a research note on Friday, October 31st. Johnson Rice cut Itron from a “buy” rating to an “accumulate” rating in a report on Friday, August 1st. Argus reissued a “hold” rating on shares of Itron in a research note on Tuesday, November 4th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $118.00 price objective (down previously from $137.00) on shares of Itron in a research note on Friday, October 31st. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Itron has an average rating of “Moderate Buy” and a consensus target price of $139.00.

Itron Trading Down 1.0%

NASDAQ ITRI traded down $1.01 on Wednesday, hitting $98.46. 1,291,260 shares of the stock were exchanged, compared to its average volume of 681,856. The company’s 50-day moving average price is $120.95 and its two-hundred day moving average price is $122.88. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.04 and a quick ratio of 1.75. Itron has a 52-week low of $90.11 and a 52-week high of $142.00. The company has a market capitalization 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.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Thursday, October 30th. The scientific and technical instruments company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $578.49 million. During the same period last year, the business earned $1.84 EPS. The firm’s revenue was down 5.5% compared to the same quarter last year. Itron has set its FY 2025 guidance at 6.840-6.940 EPS. Q4 2025 guidance at 2.150-2.250 EPS. Research analysts predict that Itron will post 5.33 EPS for the current year.

Insider Activity at Itron

In related news, SVP Christopher E. Ware sold 351 shares of Itron stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $125.31, for a total value of $43,983.81. Following the transaction, the senior vice president directly owned 19,117 shares of the company’s stock, valued at $2,395,551.27. The trade was a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Donald L. Reeves III sold 547 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $125.31, for a total value of $68,544.57. Following the completion of the sale, the senior vice president owned 19,604 shares of the company’s stock, valued at approximately $2,456,577.24. This represents a 2.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,037 shares of company stock valued at $380,566 in the last quarter. Insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Itron

A number of large investors have recently modified their holdings of ITRI. Twin Peaks Wealth Advisors LLC bought a new position in Itron in the 2nd quarter worth $30,000. Employees Retirement System of Texas purchased a new stake in Itron during the 3rd quarter valued at approximately $32,000. Bessemer Group Inc. raised its position in shares of Itron by 125.7% during the second quarter. Bessemer Group Inc. now owns 255 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 142 shares during the last quarter. Optiver Holding B.V. purchased a new position in shares of Itron in the third quarter worth $36,000. Finally, Salomon & Ludwin LLC bought a new position in shares of Itron during the third quarter worth $42,000. 96.19% of the stock is owned by hedge funds and other institutional investors.

About Itron

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.