Zacks Research Downgrades Itron (NASDAQ:ITRI) to Strong Sell

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

Other equities research analysts have also recently issued research reports about the stock. Johnson Rice raised shares of Itron from an “accumulate” rating to a “buy” rating and set a $130.00 target price on the stock in a report on Monday, January 5th. Oppenheimer reduced their target price on Itron from $145.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday. Robert W. Baird reissued a “neutral” rating and issued a $118.00 price target (down from $137.00) on shares of Itron in a report on Friday, October 31st. JPMorgan Chase & Co. upped their target price on shares of Itron from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Finally, Wall Street Zen downgraded shares of Itron from a “buy” rating to a “hold” rating in a report on Wednesday, January 14th. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Itron has a consensus rating of “Moderate Buy” and a consensus target price of $136.10.

Itron Stock Up 1.0%

ITRI stock opened at $100.19 on Wednesday. The stock has a fifty day moving average of $97.23 and a 200-day moving average of $114.00. Itron has a fifty-two week low of $90.11 and a fifty-two week high of $142.00. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 0.57 and a beta of 1.49. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.17.

Itron (NASDAQ:ITRI) last released its quarterly earnings data 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 10.69% and a return on equity of 17.82%. 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 prior year, the firm earned $1.84 earnings per share. The company’s revenue was down 5.5% compared to the same quarter last year. As a group, equities research analysts predict that Itron will post 5.33 earnings per share for the current year.

Insider Activity at Itron

In related news, SVP Justin K. Patrick sold 379 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $96.51, for a total value of $36,577.29. Following the completion of the sale, the senior vice president owned 20,382 shares in the company, valued at $1,967,066.82. The trade was a 1.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction, the senior vice president owned 13,843 shares in the company, valued at $1,335,987.93. The trade was a 3.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,971 shares of company stock worth $286,731 in the last quarter. 1.45% of the stock is owned by company insiders.

Institutional Trading of Itron

Hedge funds have recently added to or reduced their stakes in the business. Twin Peaks Wealth Advisors LLC purchased a new stake in Itron during the second quarter valued at about $30,000. Bessemer Group Inc. boosted its holdings in Itron by 125.7% during the 2nd quarter. Bessemer Group Inc. now owns 255 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 142 shares during the period. Employees Retirement System of Texas bought a new position in Itron during the 3rd quarter worth approximately $32,000. Private Trust Co. NA increased its stake in Itron by 112.4% in the 4th quarter. Private Trust Co. NA now owns 274 shares of the scientific and technical instruments company’s stock worth $25,000 after purchasing an additional 145 shares during the period. Finally, Optiver Holding B.V. bought a new stake in Itron in the third quarter valued at approximately $36,000. 96.19% of the stock is owned by institutional investors.

About Itron

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.