Zacks Investment Research upgraded shares of Iteris Inc (NYSE:ITI) from a hold rating to a buy rating in a research note published on Saturday. Zacks Investment Research currently has $7.25 price target on the stock.
According to Zacks, “Iteris, Inc. is a leading provider of outdoor vision systems and sensors that optimize the flow of traffic and enhance driver safety. Iteris combines outdoor image processing, traffic engineering, and information technology to offer a broad range of transportation and safety solutions. “
Other equities research analysts have also issued reports about the company. B. Riley restated a buy rating and set a $9.00 price target on shares of Iteris in a research note on Monday, August 14th. Northland Securities set a $8.00 target price on Iteris and gave the company a buy rating in a research note on Friday, August 4th. Finally, Dougherty & Co assumed coverage on Iteris in a research note on Tuesday, July 18th. They issued a buy rating and a $8.00 target price for the company.
Iteris (NYSE ITI) opened at 6.28 on Friday. Iteris has a one year low of $3.20 and a one year high of $6.91. The stock’s market cap is $204.51 million. The firm has a 50-day moving average price of $6.21 and a 200-day moving average price of $5.77.
Iteris (NYSE:ITI) last issued its quarterly earnings data on Monday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.02). Iteris had a negative return on equity of 5.53% and a negative net margin of 2.05%. The business had revenue of $27.18 million for the quarter, compared to the consensus estimate of $26.31 million. On average, equities analysts predict that Iteris will post ($0.07) earnings per share for the current year.
In related news, insider Thomas N. Blair sold 43,750 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $5.99, for a total value of $262,062.50. Following the sale, the insider now directly owns 25,000 shares in the company, valued at approximately $149,750. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Todd Kreter sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $6.19, for a total value of $247,600.00. Following the completion of the sale, the insider now owns 43,303 shares in the company, valued at $268,045.57. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,846 shares of company stock worth $612,239.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Strs Ohio acquired a new stake in Iteris in the 2nd quarter valued at approximately $396,000. Essex Investment Management Co. LLC acquired a new stake in Iteris in the 2nd quarter valued at approximately $724,000. Trexquant Investment LP acquired a new stake in Iteris in the 2nd quarter valued at approximately $205,000. CAPROCK Group Inc. acquired a new stake in Iteris in the 2nd quarter valued at approximately $227,000. Finally, Spark Investment Management LLC increased its position in Iteris by 191.3% in the 2nd quarter. Spark Investment Management LLC now owns 30,000 shares of the company’s stock valued at $186,000 after acquiring an additional 19,700 shares during the period.
Iteris Company Profile
Iteris, Inc is a provider of information solutions for both the traffic management and global agribusiness markets. The Company operates through three segments: Roadway Sensors, Transportation Systems and Performance Analytics. The Roadway Sensors segment provides various vehicle detection and information systems and products for traffic intersection control, incident detection and roadway traffic data collection applications.
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