Iteris Inc (ITI) Downgraded by Zacks Investment Research
Iteris Inc (NYSE:ITI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.
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 research firms also recently weighed in on ITI. B. Riley restated a “buy” rating and issued a $9.00 price objective on shares of Iteris in a report on Wednesday, June 14th. Northland Securities set a $8.00 price objective on Iteris and gave the company a “buy” rating in a report on Friday, August 4th. Finally, Dougherty & Co initiated coverage on Iteris in a report on Tuesday, July 18th. They issued a “buy” rating and a $8.00 price objective for the company.
Shares of Iteris (NYSE:ITI) traded down 3.17% during midday trading on Friday, hitting $6.10. The company had a trading volume of 366,942 shares. The stock’s market capitalization is $198.65 million. Iteris has a one year low of $3.20 and a one year high of $6.91. The stock’s 50-day moving average price is $6.21 and its 200-day moving average price is $5.79.
Iteris (NYSE:ITI) last posted its quarterly earnings data on Monday, August 7th. The company reported ($0.02) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.02). The business had revenue of $27.18 million during the quarter, compared to the consensus estimate of $26.31 million. Iteris had a negative return on equity of 5.53% and a negative net margin of 2.05%. Analysts predict that Iteris will post ($0.07) EPS for the current year.
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In other Iteris news, Director Global Investors Fundamental sold 269,293 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $6.31, for a total transaction of $1,699,238.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas N. Blair sold 17,096 shares of the stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $6.00, for a total value of $102,576.00. Following the sale, the vice president now owns 25,000 shares of the company’s stock, valued at $150,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 370,139 shares of company stock valued at $2,311,477.
A number of institutional investors have recently modified their holdings of the business. Sterling Capital Management LLC grew its holdings in Iteris by 144.1% during the 2nd quarter. Sterling Capital Management LLC now owns 47,600 shares of the company’s stock worth $296,000 after acquiring an additional 28,100 shares during the period. California State Teachers Retirement System acquired a new stake in Iteris during the 2nd quarter worth about $260,000. The Manufacturers Life Insurance Company acquired a new stake in Iteris during the 2nd quarter worth about $137,000. State Street Corp acquired a new stake in Iteris during the 2nd quarter worth about $1,606,000. Finally, TIAA FSB acquired a new stake in Iteris during the 2nd quarter worth about $561,000.
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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