Itron (NASDAQ:ITRI) Given Overweight Rating at Stephens

Key Points

• Stephens reiterated an Overweight rating on Itron and kept its $130 price target, implying roughly 61% upside from the stock’s current level.
• Itron’s latest quarterly results beat expectations, with EPS of $1.49 versus the $1.26 consensus and revenue of $586.98 million topping estimates, even though revenue declined 3.3% year over year.
• Analyst sentiment remains broadly positive, with eight Buy ratings versus four Hold and one Sell, while the stock also saw notable institutional buying and some insider share sales.

Itron (NASDAQ:ITRI - Get Free Report)'s stock had its "overweight" rating restated by equities researchers at Stephens in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $130.00 price target on the scientific and technical instruments company's stock. Stephens' price target would indicate a potential upside of 61.08% from the company's current price.

Several other analysts have also recently issued reports on the company. Zacks Research upgraded Itron from a "strong sell" rating to a "hold" rating in a research report on Thursday, February 26th. Raymond James Financial initiated coverage on Itron in a report on Tuesday, April 21st. They set an "underperform" rating for the company. Oppenheimer raised their price target on Itron from $133.00 to $135.00 and gave the company an "outperform" rating in a report on Thursday, April 16th. Needham & Company LLC initiated coverage on Itron in a report on Friday, March 6th. They set a "buy" rating and a $124.00 price target for the company. Finally, Guggenheim set a $155.00 price target on Itron in a report on Friday, February 13th. 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's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $131.22.

Itron Stock Performance

ITRI traded up $2.68 during midday trading on Wednesday, reaching $80.70. The company had a trading volume of 185,304 shares, compared to its average volume of 936,299. The company has a quick ratio of 2.24, a current ratio of 2.66 and a debt-to-equity ratio of 0.97. The business has a 50-day moving average of $89.15 and a two-hundred day moving average of $94.92. The company has a market cap of $3.58 billion, a P/E ratio of 12.87, a P/E/G ratio of 0.71 and a beta of 1.35. Itron has a 1 year low of $77.77 and a 1 year high of $142.00.

Itron (NASDAQ:ITRI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.23. Itron had a return on equity of 19.54% and a net margin of 12.31%.The business had revenue of $586.98 million during the quarter, compared to analysts' expectations of $572.04 million. During the same quarter in the prior year, the business posted $1.52 earnings per share. The business's quarterly revenue was down 3.3% on a year-over-year basis. Itron has set its Q2 2026 guidance at 1.250-1.350 EPS. As a group, equities research analysts predict that Itron will post 6.01 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Joan S. Hooper sold 3,533 shares of the firm's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $95.92, for a total transaction of $338,885.36. Following the completion of the sale, the chief financial officer directly owned 118,275 shares of the company's stock, valued at approximately $11,344,938. This trade represents a 2.90% 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 Donald L. Reeves III sold 519 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $97.84, for a total value of $50,778.96. Following the sale, the senior vice president directly owned 29,951 shares of the company's stock, valued at $2,930,405.84. This represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 51,162 shares of company stock worth $5,080,646 in the last three months. Corporate insiders own 1.77% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Impax Asset Management Group plc lifted its holdings in shares of Itron by 127.3% in the 3rd quarter. Impax Asset Management Group plc now owns 1,588,950 shares of the scientific and technical instruments company's stock valued at $197,153,000 after buying an additional 890,040 shares during the period. Norges Bank acquired a new position in Itron in the 4th quarter worth about $63,990,000. Soros Fund Management LLC acquired a new position in Itron in the 4th quarter worth about $34,843,000. Millennium Management LLC raised its holdings in Itron by 269.3% in the 4th quarter. Millennium Management LLC now owns 506,867 shares of the scientific and technical instruments company's stock worth $47,068,000 after purchasing an additional 369,617 shares during the period. Finally, Merewether Investment Management LP raised its holdings in Itron by 1,552.7% in the 2nd quarter. Merewether Investment Management LP now owns 300,787 shares of the scientific and technical instruments company's stock worth $39,593,000 after purchasing an additional 282,587 shares during the period. 96.19% of the stock is currently owned by hedge funds and other 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.

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