Iteris (ITI) Given a $9.00 Price Target by B. Riley Analysts

Iteris (NASDAQ:ITI) has been assigned a $9.00 price objective by equities research analysts at B. Riley in a research note issued on Thursday. The firm currently has a “buy” rating on the technology company’s stock. B. Riley’s price objective would indicate a potential upside of 54.11% from the company’s previous close.

ITI has been the subject of a number of other research reports. JMP Securities started coverage on shares of Iteris in a research report on Thursday, January 25th. They set an “outperform” rating and a $10.50 price objective for the company. Zacks Investment Research downgraded shares of Iteris from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Finally, Northland Securities set a $9.00 price objective on shares of Iteris and gave the company a “buy” rating in a research report on Monday, November 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Iteris currently has a consensus rating of “Buy” and a consensus price target of $8.75.

Shares of Iteris (NASDAQ ITI) traded up $0.09 during trading hours on Thursday, hitting $5.84. 440,305 shares of the company were exchanged, compared to its average volume of 304,633. Iteris has a twelve month low of $4.40 and a twelve month high of $8.17. The company has a market cap of $194.43, a P/E ratio of -32.44 and a beta of -0.45.

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

In other Iteris news, insider Thomas N. Blair sold 31,250 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $6.88, for a total transaction of $215,000.00. Following the completion of the transaction, the insider now directly owns 12,500 shares of the company’s stock, valued at approximately $86,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Neil S. Subin sold 99,141 shares of the business’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $7.54, for a total transaction of $747,523.14. The disclosure for this sale can be found here. Insiders have sold a total of 167,891 shares of company stock valued at $1,191,273 over the last three months. 4.30% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company lifted its stake in shares of Iteris by 120.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 20,942 shares of the technology company’s stock worth $146,000 after acquiring an additional 11,438 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Iteris by 148.9% in the 4th quarter. Wells Fargo & Company MN now owns 45,576 shares of the technology company’s stock worth $318,000 after acquiring an additional 27,268 shares during the period. Essex Investment Management Co. LLC lifted its stake in shares of Iteris by 15.8% in the 4th quarter. Essex Investment Management Co. LLC now owns 165,424 shares of the technology company’s stock worth $1,153,000 after acquiring an additional 22,627 shares during the period. Cowen Prime Services LLC lifted its stake in shares of Iteris by 38.0% in the 4th quarter. Cowen Prime Services LLC now owns 777,492 shares of the technology company’s stock worth $5,419,000 after acquiring an additional 214,097 shares during the period. Finally, TIAA FSB lifted its stake in shares of Iteris by 8.6% in the 4th quarter. TIAA FSB now owns 103,359 shares of the technology company’s stock worth $720,000 after acquiring an additional 8,146 shares during the period. 33.59% of the stock is owned by hedge funds and other institutional investors.

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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.

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