Itron (NASDAQ:ITRI) Downgraded by StockNews.com

StockNews.com downgraded shares of Itron (NASDAQ:ITRI) from a strong-buy rating to a buy rating in a report published on Friday morning.

Other equities research analysts have also issued research reports about the stock. TD Cowen upped their price target on shares of Itron from $110.00 to $115.00 and gave the company a buy rating in a research report on Friday, May 3rd. Robert W. Baird increased their price target on shares of Itron from $108.00 to $115.00 and gave the stock an outperform rating in a research report on Wednesday, March 13th. Canaccord Genuity Group lifted their price target on shares of Itron from $115.00 to $120.00 and gave the stock a buy rating in a research note on Thursday, June 20th. Piper Sandler lowered Itron from an overweight rating to a neutral rating and set a $109.00 price objective for the company. in a research note on Tuesday, May 21st. Finally, Roth Mkm lifted their target price on Itron from $102.00 to $112.00 and gave the company a buy rating in a research report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $104.64.

Itron Price Performance

NASDAQ ITRI opened at $98.18 on Friday. Itron has a one year low of $56.11 and a one year high of $111.00. The stock has a 50-day moving average of $103.96 and a 200 day moving average of $89.47. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.40 and a current ratio of 1.90. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 0.95 and a beta of 1.45.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.39. Itron had a net margin of 7.03% and a return on equity of 14.51%. The firm had revenue of $603.44 million during the quarter, compared to analyst estimates of $579.49 million. During the same period in the previous year, the business posted $0.49 earnings per share. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. On average, sell-side analysts forecast that Itron will post 4 EPS for the current year.

Insider Buying and Selling

In other Itron news, CFO Joan S. Hooper sold 501 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $108.87, for a total transaction of $54,543.87. Following the completion of the sale, the chief financial officer now directly owns 72,847 shares of the company’s stock, valued at approximately $7,930,852.89. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Itron news, CEO Thomas Deitrich sold 873 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $108.87, for a total transaction of $95,043.51. Following the completion of the transaction, the chief executive officer now owns 206,163 shares in the company, valued at approximately $22,444,965.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joan S. Hooper sold 501 shares of Itron stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $108.87, for a total value of $54,543.87. Following the completion of the sale, the chief financial officer now directly owns 72,847 shares in the company, valued at approximately $7,930,852.89. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,775 shares of company stock valued at $192,613. Corporate insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ITRI. Vanguard Group Inc. raised its stake in Itron by 0.8% during the first quarter. Vanguard Group Inc. now owns 5,701,337 shares of the scientific and technical instruments company’s stock valued at $527,488,000 after purchasing an additional 45,909 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Itron by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,681,573 shares of the scientific and technical instruments company’s stock worth $126,978,000 after buying an additional 51,874 shares during the last quarter. Vontobel Holding Ltd. raised its position in shares of Itron by 16.0% during the 4th quarter. Vontobel Holding Ltd. now owns 804,648 shares of the scientific and technical instruments company’s stock valued at $60,759,000 after buying an additional 110,849 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Itron by 2.2% in the 1st quarter. Janus Henderson Group PLC now owns 542,943 shares of the scientific and technical instruments company’s stock valued at $50,233,000 after acquiring an additional 11,918 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Itron by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 518,157 shares of the scientific and technical instruments company’s stock worth $39,126,000 after acquiring an additional 15,157 shares in the last quarter. 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.