Itron (NASDAQ:ITRI) Trading 6.5% Higher Following Analyst Upgrade

Itron, Inc. (NASDAQ:ITRI)’s share price rose 6.5% during trading on Monday after Stephens upgraded the stock from an equal weight rating to an overweight rating. Stephens now has a $130.00 price target on the stock. Itron traded as high as $107.03 and last traded at $106.8510. Approximately 1,751,242 shares were traded during mid-day trading, an increase of 165% from the average daily volume of 660,389 shares. The stock had previously closed at $100.33.

Other research analysts have also recently issued reports about the stock. Zacks Research raised shares of Itron from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Oppenheimer set a $145.00 price objective on shares of Itron and gave the company an “outperform” rating in a research report on Friday. Guggenheim reaffirmed a “buy” rating and set a $155.00 target price (up from $133.00) on shares of Itron in a research report on Monday, July 14th. Wall Street Zen upgraded Itron from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Johnson Rice lowered Itron from a “buy” rating to an “accumulate” rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Itron currently has an average rating of “Moderate Buy” and a consensus target price of $139.00.

Insider Transactions at Itron

In other Itron news, SVP Christopher E. Ware sold 351 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was 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 in the company, valued at approximately $2,395,551.27. This trade represents a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Joan S. Hooper sold 970 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $125.31, for a total transaction of $121,550.70. Following the transaction, the chief financial officer directly owned 88,394 shares of the company’s stock, valued at $11,076,652.14. The trade was a 1.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,037 shares of company stock valued at $380,566 over the last three months. 1.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Itron

Hedge funds have recently modified their holdings of the stock. J. Safra Sarasin Holding AG acquired a new position in shares of Itron in the 3rd quarter valued at $4,673,000. Copia Wealth Management acquired a new position in shares of Itron in the third quarter worth about $92,000. Whittier Trust Co. acquired a new stake in shares of Itron during the third quarter valued at approximately $56,000. PFG Investments LLC lifted its holdings in shares of Itron by 4.8% in the third quarter. PFG Investments LLC now owns 2,059 shares of the scientific and technical instruments company’s stock valued at $256,000 after purchasing an additional 94 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of Itron during the third quarter valued at $381,000. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Itron Stock Performance

The stock has a market capitalization of $4.86 billion, a PE ratio of 18.29, a P/E/G ratio of 0.76 and a beta of 1.48. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.75 and a current ratio of 2.04. The firm has a 50 day moving average of $124.67 and a 200-day moving average of $123.25.

Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Thursday, October 30th. The scientific and technical instruments company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. Itron had a net margin of 11.05% and a return on equity of 19.69%. The business had revenue of $581.63 million during the quarter, compared to analyst estimates of $578.49 million. During the same period in the prior year, the firm earned $1.84 earnings per share. The firm’s revenue was down 5.5% compared to the same quarter last year. Itron has set its FY 2025 guidance at 6.840-6.940 EPS. Q4 2025 guidance at 2.150-2.250 EPS. Research analysts forecast that Itron, Inc. will post 5.33 earnings per share for the current year.

About Itron

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.