Iteris Inc (ITI) Receives Consensus Recommendation of “Buy” from Analysts
Iteris Inc (NASDAQ:ITI) has earned an average rating of “Buy” from the six ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $9.00.
Several research firms recently issued reports on ITI. B. Riley reiterated a “buy” rating and set a $9.00 price target on shares of Iteris in a research report on Friday, August 4th. Zacks Investment Research lowered shares of Iteris from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Finally, Dougherty & Co restated a “buy” rating on shares of Iteris in a research report on Thursday, August 17th.
Shares of Iteris (NASDAQ ITI) traded down $0.31 on Wednesday, hitting $5.54. 160,400 shares of the stock traded hands, compared to its average volume of 147,225. Iteris has a 12 month low of $3.20 and a 12 month high of $8.17.
In related news, VP Thomas N. Blair sold 17,096 shares of Iteris stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $6.00, for a total transaction of $102,576.00. Following the completion of the transaction, the vice president now owns 25,000 shares of the company’s stock, valued at $150,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Global Investors Fundamental sold 110,912 shares of Iteris stock in a transaction on Friday, September 15th. The stock was sold at an average price of $6.12, for a total transaction of $678,781.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 481,051 shares of company stock worth $2,990,259. 4.30% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cowen Prime Services LLC increased its stake in Iteris by 180.7% in the third quarter. Cowen Prime Services LLC now owns 563,395 shares of the technology company’s stock valued at $3,747,000 after purchasing an additional 362,650 shares in the last quarter. State Street Corp bought a new stake in Iteris in the second quarter valued at $1,606,000. Northern Trust Corp increased its stake in Iteris by 256.5% in the second quarter. Northern Trust Corp now owns 306,623 shares of the technology company’s stock valued at $1,907,000 after purchasing an additional 220,625 shares in the last quarter. B. Riley Financial Inc. bought a new stake in Iteris in the third quarter valued at $1,371,000. Finally, Vanguard Group Inc. increased its stake in Iteris by 28.0% in the second quarter. Vanguard Group Inc. now owns 813,850 shares of the technology company’s stock valued at $5,062,000 after purchasing an additional 177,980 shares in the last quarter. 32.56% of the stock is owned by institutional investors and hedge funds.
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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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