Itron (NASDAQ:ITRI) Cut to Hold at Zacks Research

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

Several other equities research analysts have also issued reports on the company. Oppenheimer set a $145.00 price target on Itron and gave the company an “outperform” rating in a report on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Itron in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Itron from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Argus reiterated a “hold” rating on shares of Itron in a report on Tuesday, November 4th. Finally, Baird R W lowered Itron from a “strong-buy” rating to a “hold” rating in a report on Friday, October 31st. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $139.00.

Itron Stock Performance

ITRI stock opened at $99.47 on Wednesday. Itron has a 52 week low of $90.11 and a 52 week high of $142.00. 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 stock has a market cap of $4.56 billion, a P/E ratio of 17.00, a P/E/G ratio of 0.76 and a beta of 1.52. The firm has a 50 day simple moving average of $121.39 and a 200 day simple moving average of $122.95.

Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Thursday, October 30th. The scientific and technical instruments company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.48 by $0.06. Itron had a net margin of 11.05% and a return on equity of 19.69%. The business had revenue of $581.63 million for the quarter, compared to analysts’ expectations of $578.49 million. During the same period in the previous year, the company posted $1.84 EPS. Itron’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. Research analysts anticipate that Itron will post 5.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Joan S. Hooper sold 970 shares of Itron stock in a transaction dated 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 in the company, valued at approximately $11,076,652.14. The trade was a 1.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Justin K. Patrick sold 388 shares of the company’s stock in a transaction dated 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 position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 3,037 shares of company stock worth $380,566. Insiders own 1.51% of the company’s stock.

Institutional Investors Weigh In On Itron

Institutional investors have recently added to or reduced their stakes in the stock. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Itron in the 2nd quarter worth approximately $30,000. Employees Retirement System of Texas acquired a new stake in Itron in the 3rd quarter valued at $32,000. Bessemer Group Inc. boosted its stake in Itron by 125.7% in the 2nd 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 in the last quarter. Optiver Holding B.V. bought a new stake in Itron in the third quarter valued at $36,000. Finally, Salomon & Ludwin LLC acquired a new position in Itron during the third quarter worth $42,000. 96.19% of the stock is owned by institutional investors and hedge funds.

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.