Itron (NASDAQ:ITRI) Hits New 1-Year Low – Here’s Why

Itron, Inc. (NASDAQ:ITRI) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $88.57 and last traded at $91.6990, with a volume of 591727 shares changing hands. The stock had previously closed at $95.74.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Weiss Ratings cut Itron from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Oppenheimer reduced their price objective on shares of Itron from $145.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, January 27th. Robert W. Baird reiterated a “neutral” rating and issued a $118.00 target price (down from $137.00) on shares of Itron in a report on Friday, October 31st. Zacks Research cut shares of Itron from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 28th. Finally, Wall Street Zen cut Itron from a “buy” rating to a “hold” rating in a report on Wednesday, January 14th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Itron presently has a consensus rating of “Hold” and a consensus target price of $136.10.

Itron Stock Performance

The firm’s 50-day simple moving average is $97.92 and its two-hundred day simple moving average is $111.60. The company has a current ratio of 2.17, a quick ratio of 1.91 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $4.18 billion, a PE ratio of 16.33, a PEG ratio of 0.57 and a beta of 1.48.

Insider Transactions at Itron

In related news, SVP Christopher E. Ware sold 343 shares of the business’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 transaction of $33,102.93. Following the transaction, the senior vice president directly owned 18,774 shares of the company’s stock, valued at approximately $1,811,878.74. The trade was a 1.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Justin K. Patrick sold 379 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 transaction of $36,577.29. Following the completion of the transaction, the senior vice president owned 20,382 shares in the company, valued at approximately $1,967,066.82. This represents a 1.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 3,113 shares of company stock worth $301,678. 1.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Itron

Several institutional investors have recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC bought a new stake in Itron in the third quarter valued at $1,300,000. Robeco Schweiz AG increased its holdings in shares of Itron by 31.2% during the third quarter. Robeco Schweiz AG now owns 372,176 shares of the scientific and technical instruments company’s stock worth $46,358,000 after buying an additional 88,504 shares in the last quarter. Schroder Investment Management Group grew its holdings in shares of Itron by 23.6% during the second quarter. Schroder Investment Management Group now owns 376,087 shares of the scientific and technical instruments company’s stock worth $49,504,000 after purchasing an additional 71,702 shares during the last quarter. Arvin Capital Management LP acquired a new stake in shares of Itron in the second quarter valued at $8,331,000. Finally, Wolverine Asset Management LLC acquired a new position in Itron during the 2nd quarter worth about $377,000. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Itron Company Profile

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.