Itron (NASDAQ:ITRI) Stock Rating Lowered by StockNews.com

Itron (NASDAQ:ITRI) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

Several other analysts have also commented on ITRI. Oppenheimer lifted their price objective on Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Guggenheim lifted their target price on Itron from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Robert W. Baird lifted their target price on Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Roth Mkm lifted their target price on Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, TD Cowen lifted their target price on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Itron presently has an average rating of “Moderate Buy” and a consensus target price of $123.92.

Itron Stock Performance

Shares of ITRI opened at $97.75 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. Itron has a one year low of $71.72 and a one year high of $124.90. The firm has a market capitalization of $4.41 billion, a P/E ratio of 20.03, a PEG ratio of 0.88 and a beta of 1.46. The business has a fifty day moving average of $107.94 and a 200 day moving average of $107.01.

Hedge Funds Weigh In On Itron

Several large investors have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new position in shares of Itron in the fourth quarter valued at about $1,043,000. Franklin Resources Inc. lifted its position in shares of Itron by 22.8% in the fourth quarter. Franklin Resources Inc. now owns 347,203 shares of the scientific and technical instruments company’s stock valued at $37,699,000 after acquiring an additional 64,375 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of 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 acquiring an additional 214,600 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Itron by 3,119.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,410 shares of the scientific and technical instruments company’s stock valued at $471,000 after acquiring an additional 4,273 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Itron by 42.1% in the fourth quarter. Schroder Investment Management Group now owns 253,526 shares of the scientific and technical instruments company’s stock valued at $27,528,000 after acquiring an additional 75,166 shares in the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

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.