Itron (NASDAQ:ITRI) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Itron (NASDAQ:ITRI) from a hold rating to a strong sell rating in a research note released on Wednesday morning,Zacks.com reports.

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

Itron Stock Performance

Shares of ITRI stock opened at $99.08 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.17 and a quick ratio of 1.91. The company’s fifty day moving average price is $97.30 and its two-hundred day moving average price is $113.75. The firm has a market capitalization of $4.54 billion, a P/E ratio of 17.82, a P/E/G ratio of 0.57 and a beta of 1.49. Itron has a 12 month low of $90.11 and a 12 month high of $142.00.

Itron (NASDAQ:ITRI) last announced its earnings results on Thursday, October 30th. The scientific and technical instruments company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.06. Itron had a return on equity of 17.82% and a net margin of 10.69%.The company had revenue of $581.63 million during the quarter, compared to the consensus estimate of $578.49 million. During the same period last year, the firm earned $1.84 earnings per share. The company’s revenue was down 5.5% on a year-over-year basis. On average, research analysts anticipate that Itron will post 5.33 earnings per share for the current fiscal year.

Insider Activity

In other Itron news, SVP Christopher E. Ware sold 343 shares of Itron 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 $33,102.93. Following the completion of the transaction, the senior vice president directly owned 18,774 shares in the company, valued at $1,811,878.74. The trade was a 1.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Donald L. Reeves III sold 536 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $96.51, for a total value of $51,729.36. Following the transaction, the senior vice president directly owned 19,068 shares of the company’s stock, valued at $1,840,252.68. This trade represents a 2.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,971 shares of company stock valued at $286,731 over the last quarter. Corporate insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Itron

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

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.