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 Thursday.
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. “
Several other research analysts have also weighed in on the company. Dougherty & Co started coverage on Iteris in a report on Tuesday, July 18th. They set a “buy” rating and a $8.00 target price on the stock. Northland Securities set a $8.00 target price on Iteris and gave the stock a “buy” rating in a report on Tuesday, July 4th. Finally, B. Riley reiterated a “buy” rating and set a $9.00 target price on shares of Iteris in a report on Wednesday, June 14th.
Shares of Iteris (ITI) traded up 2.21% during trading on Thursday, reaching $7.41. 257,348 shares of the company traded hands. Iteris has a 12-month low of $3.20 and a 12-month high of $7.77. The stock’s market capitalization is $241.31 million. The firm’s 50 day moving average is $6.35 and its 200-day moving average is $5.97.
Iteris (NYSE:ITI) last posted its earnings results on Monday, August 7th. The company reported ($0.02) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate 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 return on equity of 5.53% and a negative net margin of 2.05%. On average, equities research analysts anticipate that Iteris will post ($0.07) earnings per share for the current fiscal year.
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In other news, Director Global Investors Fundamental sold 269,293 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $6.31, for a total value of $1,699,238.83. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas N. Blair sold 43,750 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $5.99, for a total value of $262,062.50. Following the completion of the sale, the insider now owns 25,000 shares in the company, valued at $149,750. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 481,051 shares of company stock worth $2,990,259.
Several institutional investors have recently modified their holdings of ITI. State Street Corp bought a new stake in shares of Iteris in the second quarter valued at about $1,606,000. Northern Trust Corp lifted its holdings in shares of Iteris by 256.5% in the second quarter. Northern Trust Corp now owns 306,623 shares of the company’s stock valued at $1,907,000 after purchasing an additional 220,625 shares in the last quarter. Cowen Prime Services LLC bought a new stake in shares of Iteris in the second quarter valued at about $1,249,000. Vanguard Group Inc. lifted its holdings in shares of Iteris by 28.0% in the second quarter. Vanguard Group Inc. now owns 813,850 shares of the company’s stock valued at $5,062,000 after purchasing an additional 177,980 shares in the last quarter. Finally, Royce & Associates LP lifted its holdings in shares of Iteris by 39.9% in the second quarter. Royce & Associates LP now owns 526,000 shares of the company’s stock valued at $3,272,000 after purchasing an additional 150,000 shares in the last quarter.
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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