Iteris Inc (ITI) Expected to Post Quarterly Sales of $23.28 Million
Equities analysts expect Iteris Inc (NASDAQ:ITI) to post sales of $23.28 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Iteris’ earnings. The lowest sales estimate is $23.05 million and the highest is $23.51 million. Iteris posted sales of $22.69 million during the same quarter last year, which suggests a positive year over year growth rate of 2.6%. The firm is expected to report its next earnings results on Thursday, February 8th.
According to Zacks, analysts expect that Iteris will report full-year sales of $23.28 million for the current year, with estimates ranging from $101.67 million to $101.75 million. For the next fiscal year, analysts forecast that the firm will post sales of $114.91 million per share, with estimates ranging from $111.78 million to $118.03 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Iteris.
A number of analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Iteris from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. B. Riley reaffirmed a “buy” rating and set a $9.00 price objective on shares of Iteris in a report on Monday, August 14th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $8.31.
In related news, insider Todd Kreter sold 37,500 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $6.10, for a total transaction of $228,750.00. Following the completion of the sale, the insider now directly owns 40,803 shares in the company, valued at $248,898.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Global Investors Fundamental sold 269,293 shares of the firm’s 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 disclosure for this sale can be found here. Insiders sold 417,705 shares of company stock valued at $2,606,770 over the last quarter. Company insiders own 4.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new stake in Iteris during the third quarter worth about $116,000. SG Americas Securities LLC purchased a new position in Iteris during the third quarter worth about $120,000. Wells Fargo & Company MN boosted its stake in Iteris by 1,730.8% during the third quarter. Wells Fargo & Company MN now owns 18,308 shares of the technology company’s stock worth $122,000 after buying an additional 17,308 shares during the period. Rhumbline Advisers purchased a new position in Iteris during the second quarter worth about $136,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Iteris during the second quarter worth about $137,000. Hedge funds and other institutional investors own 33.35% of the company’s stock.
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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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