Shares of Iteris Inc (NASDAQ:ITI) have earned a consensus rating of “Buy” from the seven research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $9.50.
ITI has been the subject of a number of research reports. B. Riley set a $9.00 price target on shares of Iteris and gave the company a “buy” rating in a report on Thursday, January 11th. Northland Securities set a $9.00 price target on shares of Iteris and gave the company a “buy” rating in a report on Monday, November 13th. Zacks Investment Research raised shares of Iteris from a “sell” rating to a “hold” rating in a report on Tuesday, December 5th. Finally, JMP Securities initiated coverage on shares of Iteris in a report on Thursday. They issued an “outperform” rating and a $10.50 price target for the company.
Shares of Iteris (NASDAQ:ITI) opened at $7.16 on Monday. Iteris has a 1-year low of $4.40 and a 1-year high of $8.17. The firm has a market cap of $234.76, a price-to-earnings ratio of -35.80 and a beta of -0.46.
In other news, insider Thomas N. Blair sold 31,250 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $6.88, for a total value of $215,000.00. Following the completion of the transaction, the insider now owns 12,500 shares in the company, valued at approximately $86,000. The sale was disclosed in a filing with the SEC, 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 transaction of $228,750.00. Following the completion of the transaction, the insider now owns 40,803 shares of the company’s stock, valued at approximately $248,898.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 167,891 shares of company stock valued at $1,191,273. Corporate insiders own 4.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Iteris by 28.0% during the 2nd quarter. Vanguard Group Inc. now owns 813,850 shares of the technology company’s stock worth $5,062,000 after purchasing an additional 177,980 shares in the last quarter. Cowen Prime Services LLC increased its position in shares of Iteris by 180.7% during the 3rd quarter. Cowen Prime Services LLC now owns 563,395 shares of the technology company’s stock worth $3,747,000 after purchasing an additional 362,650 shares in the last quarter. Northern Trust Corp increased its position in shares of Iteris by 256.5% during the 2nd quarter. Northern Trust Corp now owns 306,623 shares of the technology company’s stock worth $1,907,000 after purchasing an additional 220,625 shares in the last quarter. State Street Corp acquired a new stake in shares of Iteris during the 2nd quarter worth about $1,606,000. Finally, B. Riley Financial Inc. acquired a new stake in shares of Iteris during the 3rd quarter worth about $1,371,000. Institutional investors own 33.34% of the company’s stock.
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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