Wall Street Zen Downgrades Itron (NASDAQ:ITRI) to Hold

Key Points

• Itron has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, amid mixed reviews from other analysts.
• The stock currently has a consensus rating of "Moderate Buy" with an average price target of $136.55.
• Itron reported earnings of $1.62 per share for its last quarter, exceeding estimates but reflecting a 0.4% decline in year-over-year revenue.

Wall Street Zen lowered shares of Itron (NASDAQ:ITRI - Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Other equities research analysts have also issued research reports about the company. Guggenheim reiterated a "buy" rating and issued a $155.00 target price (up previously from $133.00) on shares of Itron in a research note on Monday, July 14th. TD Cowen increased their target price on Itron from $139.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, June 20th. JPMorgan Chase & Co. upgraded Itron from a "neutral" rating to an "overweight" rating and increased their target price for the company from $128.00 to $145.00 in a research note on Thursday, July 31st. Stephens set a $130.00 target price on Itron in a research note on Monday, August 4th. Finally, Johnson Rice lowered Itron from a "buy" rating to an "accumulate" rating in a research note on Friday, August 1st. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $136.55.

Itron Trading Down 0.4%

NASDAQ ITRI traded down $0.46 during trading hours on Friday, hitting $120.63. 2,016,155 shares of the company's stock were exchanged, compared to its average volume of 605,363. The business's 50 day moving average is $126.37 and its 200-day moving average is $117.90. Itron has a 12-month low of $90.11 and a 12-month high of $140.04. The firm has a market capitalization of $5.52 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 0.66 and a beta of 1.46. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.75 and a current ratio of 2.04.

Itron (NASDAQ:ITRI - Get Free Report) last released its earnings results on Thursday, July 31st. The scientific and technical instruments company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.29. The firm had revenue of $606.76 million for the quarter, compared to the consensus estimate of $610.36 million. Itron had a return on equity of 19.69% and a net margin of 11.05%.The firm's revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 earnings per share. Itron has set its FY 2025 guidance at 6.000-6.200 EPS. Q3 2025 guidance at 1.450-1.550 EPS. As a group, analysts anticipate that Itron will post 5.33 EPS for the current fiscal year.

Insider Activity

In related news, SVP Donald L. Reeves III sold 547 shares of Itron stock in a transaction on Monday, August 25th. The stock was sold at an average price of $125.31, for a total transaction of $68,544.57. Following the completion of the sale, the senior vice president owned 19,604 shares of the company's stock, valued at approximately $2,456,577.24. This trade represents a 2.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christopher E. Ware sold 351 shares of Itron stock in a transaction on Monday, August 25th. The shares were sold at an average price of $125.31, for a total value of $43,983.81. Following the sale, the senior vice president directly owned 19,117 shares of the company's stock, valued at approximately $2,395,551.27. The trade was a 1.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,037 shares of company stock valued at $380,566. 1.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Itron

Several institutional investors have recently bought and sold shares of ITRI. Impax Asset Management Group plc bought a new position in Itron during the second quarter valued at about $91,998,000. Norges Bank bought a new position in Itron during the second quarter valued at about $71,727,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Itron by 129.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 732,274 shares of the scientific and technical instruments company's stock valued at $76,713,000 after buying an additional 413,487 shares in the last quarter. Merewether Investment Management LP raised its holdings in Itron by 1,552.7% during the second quarter. Merewether Investment Management LP now owns 300,787 shares of the scientific and technical instruments company's stock valued at $39,593,000 after buying an additional 282,587 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Itron by 180.7% during the fourth quarter. Wellington Management Group LLP now owns 333,363 shares of the scientific and technical instruments company's stock valued at $36,197,000 after buying an additional 214,600 shares in the last quarter. 96.19% of the stock is currently owned by institutional investors.

Itron Company Profile

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.