Iteris Inc (NASDAQ:ITI) – Equities researchers at B. Riley issued their FY2021 earnings per share estimates for shares of Iteris in a research report issued to clients and investors on Thursday. B. Riley analyst J. Van. Sinderen anticipates that the technology company will post earnings of $0.49 per share for the year. B. Riley has a “Buy” rating and a $9.00 price objective on the stock.
Other analysts have also recently issued reports about the company. Zacks Investment Research cut Iteris from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Northland Securities set a $9.00 target price on Iteris and gave the stock a “buy” rating in a research note on Monday, November 13th. Finally, JMP Securities assumed coverage on Iteris in a research note on Thursday, January 25th. They issued an “outperform” rating and a $10.50 target price on the stock. One research 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’s stock. The company currently has a consensus rating of “Buy” and an average target price of $8.75.
Iteris (NASDAQ:ITI) last announced its quarterly earnings data on Tuesday, November 7th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.02). Iteris had a negative net margin of 4.32% and a negative return on equity of 10.12%.
In related news, insider Thomas N. Blair sold 31,250 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $6.88, for a total value of $215,000.00. Following the sale, the insider now directly owns 12,500 shares of the company’s stock, valued at $86,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Neil S. Subin sold 99,141 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $7.54, for a total value of $747,523.14. The disclosure for this sale can be found here. Insiders sold 167,891 shares of company stock worth $1,191,273 over the last three months. 4.30% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. bought a new stake in Iteris during the 2nd quarter valued at approximately $257,000. Rhumbline Advisers bought a new stake in Iteris during the 2nd quarter valued at approximately $136,000. Bank of New York Mellon Corp boosted its position in Iteris by 309.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 66,328 shares of the technology company’s stock valued at $413,000 after acquiring an additional 50,145 shares in the last quarter. Teachers Advisors LLC bought a new stake in Iteris during the 2nd quarter valued at approximately $268,000. Finally, TIAA CREF Investment Management LLC bought a new stake in Iteris during the 2nd quarter valued at approximately $405,000. 33.59% of the stock is currently owned by institutional investors.
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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