Itron (NASDAQ:ITRI) Shares Gap Down - Should You Sell?

Key Points

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Itron, Inc. (NASDAQ:ITRI - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $138.42, but opened at $130.71. Itron shares last traded at $132.79, with a volume of 214,296 shares.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Piper Sandler dropped their price target on Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. TD Cowen lifted their price objective on Itron from $139.00 to $145.00 and gave the company a "buy" rating in a research report on Friday, June 20th. Guggenheim reaffirmed a "buy" rating and issued a $155.00 price objective (up previously from $133.00) on shares of Itron in a research report on Monday, July 14th. JPMorgan Chase & Co. lifted their price objective on Itron from $118.00 to $128.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Wall Street Zen downgraded Itron from a "buy" rating to a "hold" rating in a research report on Sunday, June 1st. Four research analysts have rated the stock with a hold rating and nine 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 $133.17.

Itron Stock Down 10.0%

The stock has a market cap of $5.68 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 0.86 and a beta of 1.35. The company has a quick ratio of 1.65, a current ratio of 1.93 and a debt-to-equity ratio of 0.52. The stock has a fifty day moving average of $127.56 and a two-hundred day moving average of $112.68.

Itron (NASDAQ:ITRI - Get Free Report) last issued its earnings results on Thursday, July 31st. The scientific and technical instruments company reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.29. Itron had a return on equity of 19.65% and a net margin of 10.34%. The firm's revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 EPS. As a group, analysts predict that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Insider Activity at Itron

In other Itron news, SVP John F. Marcolini sold 3,783 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $116.73, for a total transaction of $441,589.59. Following the transaction, the senior vice president owned 21,865 shares in the company, valued at $2,552,301.45. The trade was a 14.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Donald L. Reeves III sold 529 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total value of $60,808.55. Following the transaction, the senior vice president owned 20,151 shares in the company, valued at approximately $2,316,357.45. This represents a 2.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,905 shares of company stock valued at $2,439,202 over the last 90 days. Corporate insiders own 1.45% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ITRI. Norges Bank acquired a new position in shares of Itron in the fourth quarter worth about $64,615,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Itron by 129.7% in 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 worth $76,713,000 after acquiring an additional 413,487 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Itron in the fourth quarter worth about $27,619,000. Wellington Management Group LLP increased its holdings in Itron by 180.7% in 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 during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Itron by 85.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 425,484 shares of the scientific and technical instruments company's stock valued at $46,199,000 after buying an additional 196,396 shares during the last quarter. Institutional investors and hedge funds own 96.19% of the company's stock.

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.

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