Iteris Inc (ITI) Given Average Recommendation of “Strong Buy” by Brokerages
Iteris Inc (NYSE:ITI) has received a consensus broker rating score of 1.33 (Strong Buy) from the three analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. Iteris’ rating score has declined by 33% in the last 90 days as a result of various analysts’ upgrades and downgrades.
Analysts have set a one year consensus price objective of $8.50 for the company and are predicting that the company will post ($0.01) EPS for the current quarter, according to Zacks. Zacks has also assigned Iteris an industry rank of 251 out of 265 based on the ratings given to its competitors.
Several brokerages recently issued reports on ITI. Zacks Investment Research downgraded Iteris from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Northland Securities set a $8.00 price objective on Iteris and gave the stock a “buy” rating in a research note on Friday, August 4th. B. Riley reissued a “buy” rating and issued a $9.00 price objective on shares of Iteris in a research note on Friday, August 4th. Finally, Dougherty & Co began coverage on Iteris in a research note on Tuesday, July 18th. They issued a “buy” rating and a $8.00 price objective for the company.
Iteris (ITI) traded down 4.17% during mid-day trading on Monday, reaching $6.90. The company’s stock had a trading volume of 143,937 shares. Iteris has a 1-year low of $3.20 and a 1-year high of $8.17. The firm’s market capitalization is $224.71 million. The firm has a 50-day moving average of $6.82 and a 200 day moving average of $6.14.
Iteris (NYSE:ITI) last announced its quarterly earnings data on Monday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.02). The firm 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%. Equities analysts expect that Iteris will post ($0.07) earnings per share for the current year.
In other news, insider Thomas N. Blair sold 43,750 shares of the firm’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 completion of the sale, the insider now directly owns 25,000 shares of the company’s stock, valued at approximately $149,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas N. Blair sold 17,096 shares of the firm’s 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 directly 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 three months, insiders sold 481,051 shares of company stock valued at $2,990,259.
Several institutional investors and hedge funds have recently bought and sold shares of ITI. Rhumbline Advisers purchased a new stake in shares of Iteris during the 2nd quarter worth about $136,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Iteris during the 2nd quarter worth about $137,000. New York State Common Retirement Fund purchased a new stake in shares of Iteris during the 2nd quarter worth about $156,000. Spark Investment Management LLC raised its stake in shares of Iteris by 191.3% during the 2nd quarter. Spark Investment Management LLC now owns 30,000 shares of the company’s stock worth $186,000 after purchasing an additional 19,700 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of Iteris during the 2nd quarter worth about $205,000.
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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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