Itron (NASDAQ:ITRI) Downgraded by StockNews.com to "Buy"

StockNews.com downgraded shares of Itron (NASDAQ:ITRI - Free Report) from a strong-buy rating to a buy rating in a research report report published on Thursday.

Several other research analysts have also recently commented on the stock. Robert W. Baird increased their target price on shares of Itron from $123.00 to $132.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Guggenheim increased their price target on shares of Itron from $128.00 to $135.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. TD Cowen increased their price target on shares of Itron from $125.00 to $136.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Oppenheimer increased their price target on shares of Itron from $120.00 to $124.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Piper Sandler increased their price target on shares of Itron from $110.00 to $119.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Itron presently has an average rating of "Moderate Buy" and a consensus price target of $123.92.

Itron Stock Down 1.7 %

ITRI traded down $1.67 during trading hours on Thursday, hitting $97.00. 721,743 shares of the company's stock were exchanged, compared to its average volume of 384,165. Itron has a 1-year low of $73.64 and a 1-year high of $124.90. The stock's 50-day moving average is $107.22 and its two-hundred day moving average is $106.97. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 0.88 and a beta of 1.46. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

Institutional Trading of Itron

Several hedge funds and other institutional investors have recently modified their holdings of ITRI. Intech Investment Management LLC boosted its holdings in Itron by 105.9% in the 3rd quarter. Intech Investment Management LLC now owns 19,444 shares of the scientific and technical instruments company's stock valued at $2,077,000 after purchasing an additional 10,001 shares during the period. Geode Capital Management LLC boosted its holdings in Itron by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company's stock valued at $114,835,000 after purchasing an additional 5,630 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in Itron by 78.3% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 6,083 shares of the scientific and technical instruments company's stock valued at $660,000 after purchasing an additional 2,671 shares during the period. Beacon Harbor Wealth Advisors Inc. bought a new stake in Itron in the 3rd quarter valued at about $5,994,000. Finally, Systematic Financial Management LP boosted its holdings in Itron by 12.2% in the 3rd quarter. Systematic Financial Management LP now owns 134,362 shares of the scientific and technical instruments company's stock valued at $14,351,000 after purchasing an additional 14,590 shares during the period. Institutional investors own 96.19% of the company's stock.

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.