Itron (NASDAQ:ITRI) Downgraded by Wall Street Zen to Hold

Itron (NASDAQ:ITRI - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

A number of other equities analysts have also commented on ITRI. Canaccord Genuity Group lifted their price objective on Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Oppenheimer increased their price target on Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Piper Sandler lowered their target price on Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Finally, Guggenheim restated a "buy" rating and set a $133.00 target price on shares of Itron in a research report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $127.36.

Itron Price Performance

Shares of ITRI traded up $0.73 during trading hours on Friday, hitting $120.23. 41,150 shares of the company were exchanged, compared to its average volume of 576,952. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. The company has a market capitalization of $5.48 billion, a PE ratio of 24.68, a PEG ratio of 0.81 and a beta of 1.31. Itron has a one year low of $90.11 and a one year high of $124.90. The firm has a fifty day simple moving average of $107.32 and a 200-day simple moving average of $107.65.

Itron (NASDAQ:ITRI - Get Free Report) last released its earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.22. The company had revenue of $607.15 million for the quarter, compared to analysts' expectations of $608.86 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. The business's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.24 EPS. As a group, sell-side analysts predict that Itron will post 5.33 earnings per share for the current year.

Insiders Place Their Bets

In other Itron news, SVP Christopher E. Ware sold 339 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total transaction of $38,968.05. Following the transaction, the senior vice president now directly owns 19,468 shares in the company, valued at approximately $2,237,846.60. This represents a 1.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary C. Hemmingsen sold 5,150 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $108.70, for a total transaction of $559,805.00. Following the transaction, the director now owns 952 shares in the company, valued at $103,482.40. The trade was a 84.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,086 shares of company stock worth $897,298. 1.45% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ITRI. GeoWealth Management LLC grew its position in Itron by 4,580.0% in the 4th quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company's stock worth $25,000 after purchasing an additional 229 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Itron during the first quarter valued at approximately $45,000. CoreCap Advisors LLC boosted its position in Itron by 25.5% in the fourth quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company's stock worth $67,000 after purchasing an additional 125 shares during the last quarter. Hager Investment Management Services LLC bought a new stake in shares of Itron during the 4th quarter worth $67,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Itron by 347.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company's stock worth $97,000 after purchasing an additional 688 shares during the period. 96.19% of the stock is currently 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.