Iteris Inc (ITI) Upgraded at Zacks Investment Research
Iteris Inc (NYSE:ITI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday. The firm currently has a $7.25 price target on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 18.08% from the company’s previous close.
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. “
A number of other equities research analysts have also weighed in on ITI. B. Riley reaffirmed a “buy” rating and set a $9.00 target price on shares of Iteris in a research note on Friday, June 9th. Northland Securities set a $8.00 target price on shares of Iteris and gave the company a “buy” rating in a research note on Tuesday, July 4th. Finally, Dougherty & Co initiated coverage on shares of Iteris in a research note on Tuesday, July 18th. They set a “buy” rating and a $8.00 target price on the stock.
Iteris (NYSE ITI) opened at 6.14 on Friday. The stock’s 50 day moving average is $6.21 and its 200-day moving average is $5.75. Iteris has a 52-week low of $3.20 and a 52-week high of $6.91. The company’s market cap is $199.96 million.
Iteris (NYSE:ITI) last announced its earnings results on Monday, August 7th. The company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). The firm had revenue of $27.18 million for the quarter, compared to analyst estimates of $26.31 million. Iteris had a negative net margin of 2.05% and a negative return on equity of 5.53%. Equities research analysts predict that Iteris will post ($0.07) EPS for the current fiscal year.
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In related news, Director Global Investors Fundamental sold 385,218 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $5.49, for a total transaction of $2,114,846.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas N. Blair sold 43,750 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $5.99, for a total transaction of $262,062.50. Following the sale, the insider now directly owns 25,000 shares in the company, valued at approximately $149,750. The disclosure for this sale can be found here. Insiders have sold 766,564 shares of company stock worth $4,242,235 in the last three months.
A number of large investors have recently bought and sold shares of ITI. Rhumbline Advisers bought a new stake in Iteris during the second quarter worth about $136,000. The Manufacturers Life Insurance Company bought a new stake in Iteris during the second quarter worth about $137,000. New York State Common Retirement Fund bought a new stake in Iteris during the second quarter worth about $156,000. Spark Investment Management LLC boosted its stake in Iteris by 191.3% during the second quarter. Spark Investment Management LLC now owns 30,000 shares of the company’s stock worth $186,000 after acquiring an additional 19,700 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in Iteris during the second quarter worth about $205,000.
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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