Iteris (ITI) Earns Outperform Rating from Analysts at JMP Securities

Equities research analysts at JMP Securities assumed coverage on shares of Iteris (NASDAQ:ITI) in a research note issued on Thursday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $10.50 price target on the technology company’s stock. JMP Securities’ price target would suggest a potential upside of 46.65% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. B. Riley set a $9.00 target price on Iteris and gave the stock a “buy” rating in a report on Thursday, January 11th. Zacks Investment Research cut Iteris from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Finally, Northland Securities set a $9.00 target price on Iteris and gave the stock a “buy” rating in a report on Monday, November 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $8.75.

Iteris (NASDAQ ITI) traded up $0.08 during trading on Thursday, hitting $7.16. The company’s stock had a trading volume of 128,165 shares, compared to its average volume of 251,592. Iteris has a 52-week low of $4.40 and a 52-week high of $8.17. The company has a market cap of $234.76, a PE ratio of -35.80 and a beta of -0.46.

Iteris (NASDAQ:ITI) last issued its earnings results on Tuesday, November 7th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). Iteris had a negative return on equity of 10.73% and a negative net margin of 6.18%. sell-side analysts anticipate that Iteris will post -0.11 earnings per share for the current year.

In related news, insider Thomas N. Blair sold 31,250 shares of the stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $6.88, for a total value of $215,000.00. Following the completion of the sale, the insider now directly owns 12,500 shares of the company’s stock, valued at approximately $86,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Todd Kreter sold 37,500 shares of the stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $6.10, for a total value of $228,750.00. Following the completion of the sale, the insider now directly owns 40,803 shares of the company’s stock, valued at $248,898.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 167,891 shares of company stock worth $1,191,273. 4.30% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ITI. GSA Capital Partners LLP purchased a new stake in Iteris in the 3rd quarter valued at $116,000. SG Americas Securities LLC purchased a new stake in shares of Iteris during the 3rd quarter valued at $120,000. Wells Fargo & Company MN increased its position in shares of Iteris by 1,730.8% during the 3rd quarter. Wells Fargo & Company MN now owns 18,308 shares of the technology company’s stock valued at $122,000 after purchasing an additional 17,308 shares during the last quarter. Rhumbline Advisers purchased a new stake in shares of Iteris during the 2nd quarter valued at $136,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Iteris during the 2nd quarter valued at $137,000. 33.34% of the stock is owned by institutional investors and hedge funds.

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About Iteris

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.

Analyst Recommendations for Iteris (NASDAQ:ITI)

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