Itron (NASDAQ:ITRI) Given New $128.00 Price Target at Needham & Company LLC

Itron (NASDAQ:ITRI) had its target price lifted by research analysts at Needham & Company LLC from $116.00 to $128.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. Needham & Company LLC’s target price points to a potential upside of 19.60% from the company’s previous close.

ITRI has been the subject of several other research reports. Zacks Research cut shares of Itron from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. JPMorgan Chase & Co. cut their price target on Itron from $133.00 to $113.00 and set an “overweight” rating on the stock in a research report on Thursday, April 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Itron in a research note on Friday, May 8th. Raymond James Financial initiated coverage on Itron in a report on Tuesday, April 21st. They issued an “underperform” rating for the company. Finally, TD Cowen cut their price target on Itron from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Itron presently has a consensus rating of “Hold” and a consensus price target of $131.67.

Itron Trading Up 26.2%

Shares of Itron stock opened at $107.02 on Wednesday. The firm’s 50 day simple moving average is $83.62 and its two-hundred day simple moving average is $89.80. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 0.74 and a beta of 1.32. Itron has a 12-month low of $77.77 and a 12-month high of $142.00. The company has a current ratio of 2.66, a quick ratio of 2.24 and a debt-to-equity ratio of 0.97.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Tuesday, July 28th. The scientific and technical instruments company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.30. Itron had a net margin of 12.31% and a return on equity of 19.54%. The firm had revenue of $562.90 million for the quarter, compared to analyst estimates of $566.34 million. During the same period in the previous year, the company earned $1.62 earnings per share. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. Itron has set its Q3 2026 guidance at 1.500-1.600 EPS and its FY 2026 guidance at 6.300-6.500 EPS. Analysts predict that Itron will post 6.01 EPS for the current year.

Insiders Place Their Bets

In other Itron news, CFO Joan S. Hooper sold 442 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $84.37, for a total transaction of $37,291.54. Following the completion of the transaction, the chief financial officer owned 117,478 shares of the company’s stock, valued at $9,911,618.86. This represents a 0.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Donald L. Reeves III sold 319 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $84.37, for a total value of $26,914.03. Following the completion of the transaction, the senior vice president owned 29,100 shares in the company, valued at approximately $2,455,167. This trade represents a 1.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 3,946 shares of company stock worth $324,420. Corporate insiders own 1.77% of the company’s stock.

Hedge Funds Weigh In On Itron

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Employees Retirement System of Texas acquired a new position in Itron in the 3rd quarter valued at about $32,000. Private Trust Co. NA raised its position in Itron by 112.4% in the fourth 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. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Itron by 343.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 346 shares of the scientific and technical instruments company’s stock valued at $46,000 after purchasing an additional 268 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Itron in the 3rd quarter valued at $49,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Itron by 25.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 401 shares of the scientific and technical instruments company’s stock worth $53,000 after purchasing an additional 81 shares during the period. Institutional investors and hedge funds own 96.19% of the company’s stock.

Itron News Summary

Here are the key news stories impacting Itron this week:

• Positive Sentiment: Itron reported second-quarter non-GAAP EPS of $1.59, beating the roughly $1.29–$1.30 consensus by about $0.30. Adjusted EBITDA rose 8% to $97 million, while adjusted gross margin expanded 460 basis points to a record 41.4%. Itron Announces Second Quarter 2026 Financial Results
• Positive Sentiment: Management raised its 2026 non-GAAP EPS outlook to $6.30–$6.50, above the approximately $5.98 analyst estimate, signaling confidence in demand and the company’s improved operating model. Itron Soars After Earnings Beat and Raised Growth Outlook
• Positive Sentiment: Annual recurring revenue increased 21% to $417 million, Outcomes revenue grew 13%, and quarterly bookings totaled $550 million. The company ended the quarter with a substantial $4.4 billion backlog, supporting future revenue visibility.
• Neutral Sentiment: Third-quarter guidance calls for revenue of $590 million–$600 million and EPS of $1.50–$1.60. The EPS range is broadly in line with expectations, but the revenue outlook is below the approximately $607 million consensus.
• Negative Sentiment: Revenue fell 7% year over year to $562.9 million, missing estimates of about $566 million. Networked Solutions revenue declined 17% because of project timing and lower volumes, while GAAP net income dropped to $53 million from $68 million.
• Negative Sentiment: Free cash flow decreased to $81 million from $91 million a year earlier. These declines, along with lower full-year revenue growth, remain risks even though earnings quality and margins improved.

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.