Itron (NASDAQ:ITRI) Downgraded to Strong Sell Rating by Zacks Research

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

Other equities research analysts have also recently issued research reports about the stock. Stephens upgraded shares of Itron from an “equal weight” rating to an “overweight” rating and set a $130.00 price objective on the stock in a research report on Monday, November 3rd. Argus reissued a “hold” rating on shares of Itron in a research report on Tuesday, November 4th. Robert W. Baird reissued a “neutral” rating and issued a $118.00 price objective (down from $137.00) on shares of Itron in a research report on Friday, October 31st. Johnson Rice raised Itron from an “accumulate” rating to a “buy” rating and set a $130.00 target price on the stock in a research note on Monday, January 5th. Finally, Oppenheimer dropped their price objective on Itron from $145.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $136.10.

Itron Stock Up 1.0%

ITRI stock opened at $100.19 on Wednesday. The business has a 50 day moving average of $97.23 and a 200 day moving average of $114.00. The firm has a market cap of $4.59 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 0.57 and a beta of 1.49. Itron has a twelve month low of $90.11 and a twelve month high of $142.00. The company has a quick ratio of 1.91, a current ratio of 2.17 and a debt-to-equity ratio of 0.46.

Itron (NASDAQ:ITRI) last released its earnings results on Thursday, October 30th. The scientific and technical instruments company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.48 by $0.06. Itron had a return on equity of 17.82% and a net margin of 10.69%.The business had revenue of $581.63 million for the quarter, compared to the consensus estimate of $578.49 million. During the same period in the previous year, the company posted $1.84 earnings per share. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, research analysts forecast that Itron will post 5.33 EPS for the current fiscal year.

Insider Activity

In related news, SVP John F. Marcolini sold 553 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $96.51, for a total transaction of $53,370.03. Following the completion of the sale, the senior vice president owned 13,843 shares of the company’s stock, valued at $1,335,987.93. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Justin K. Patrick sold 379 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $96.51, for a total value of $36,577.29. Following the sale, the senior vice president owned 20,382 shares of the company’s stock, valued at approximately $1,967,066.82. This represents a 1.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,971 shares of company stock worth $286,731 over the last 90 days. 1.45% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its stake in shares of Itron by 52.5% during the second quarter. Farther Finance Advisors LLC now owns 1,240 shares of the scientific and technical instruments company’s stock worth $163,000 after buying an additional 427 shares during the period. Public Employees Retirement System of Ohio lifted its position in Itron by 233.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,509 shares of the scientific and technical instruments company’s stock worth $199,000 after acquiring an additional 1,057 shares during the period. KLP Kapitalforvaltning AS grew its stake in Itron by 8.0% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 9,400 shares of the scientific and technical instruments company’s stock valued at $1,237,000 after purchasing an additional 700 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Itron by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 21,300 shares of the scientific and technical instruments company’s stock valued at $2,804,000 after purchasing an additional 100 shares during the period. Finally, REAP Financial Group LLC raised its stake in shares of Itron by 168.4% in the second quarter. REAP Financial Group LLC now owns 424 shares of the scientific and technical instruments company’s stock worth $56,000 after purchasing an additional 266 shares during the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

Itron Company Profile

Itron, Inc (NASDAQ: ITRI) is a global technology company that develops innovative solutions to measure, manage and analyze the use of energy and water. Its comprehensive portfolio includes smart meters, data collection devices, communication networks and advanced software applications designed to optimize utility operations and foster sustainable resource management. The company’s offerings enable utilities and cities to accurately monitor consumption patterns, streamline billing processes and improve grid reliability.

Itron’s product lineup spans a range of hardware and software solutions, from residential and commercial smart meters to meter data management systems (MDMS), networked communication platforms and analytics tools.