Wall Street analysts predict that Iteris Inc (NASDAQ:ITI) will report $24.73 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Iteris’ earnings. Iteris reported sales of $26.03 million during the same quarter last year, which indicates a negative year-over-year growth rate of 5%. The company is expected to issue its next earnings report on Wednesday, February 6th.
According to Zacks, analysts expect that Iteris will report full-year sales of $100.60 million for the current year, with estimates ranging from $100.28 million to $100.91 million. For the next financial year, analysts expect that the firm will report sales of $116.58 million, with estimates ranging from $114.02 million to $119.13 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Iteris.
Iteris (NASDAQ:ITI) last posted its earnings results on Tuesday, November 6th. The technology company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. The company had revenue of $24.42 million for the quarter, compared to analyst estimates of $25.29 million. Iteris had a negative net margin of 4.93% and a negative return on equity of 8.64%.
A number of brokerages recently commented on ITI. ValuEngine lowered shares of Iteris from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. Zacks Investment Research upgraded shares of Iteris from a “hold” rating to a “buy” rating and set a $4.75 price objective on the stock in a report on Wednesday, October 24th. B. Riley dropped their price objective on shares of Iteris from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, November 5th. Finally, Dougherty & Co restated a “buy” rating on shares of Iteris in a report on Tuesday, September 4th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Iteris has an average rating of “Buy” and a consensus price target of $8.06.
In other news, major shareholder Neil S. Subin sold 52,830 shares of the firm’s stock in a transaction dated Wednesday, October 17th. The shares were sold at an average price of $4.42, for a total transaction of $233,508.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Neil S. Subin sold 91,885 shares of the firm’s stock in a transaction dated Friday, October 26th. The stock was sold at an average price of $4.06, for a total transaction of $373,053.10. The disclosure for this sale can be found here. In the last three months, insiders sold 215,682 shares of company stock valued at $913,198. Insiders own 6.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Private Management Group Inc. acquired a new stake in Iteris in the 2nd quarter worth about $517,000. Ardsley Advisory Partners raised its stake in Iteris by 120.1% in the 2nd quarter. Ardsley Advisory Partners now owns 460,000 shares of the technology company’s stock worth $2,226,000 after purchasing an additional 251,000 shares in the last quarter. Cowen Prime Services LLC raised its stake in Iteris by 1.7% in the 3rd quarter. Cowen Prime Services LLC now owns 913,192 shares of the technology company’s stock worth $4,913,000 after purchasing an additional 15,500 shares in the last quarter. Royce & Associates LP raised its stake in Iteris by 58.4% in the 2nd quarter. Royce & Associates LP now owns 1,104,000 shares of the technology company’s stock worth $5,343,000 after purchasing an additional 407,000 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Iteris by 12.0% in the 2nd quarter. BlackRock Inc. now owns 1,950,422 shares of the technology company’s stock worth $9,440,000 after purchasing an additional 208,926 shares in the last quarter. Institutional investors own 33.56% of the company’s stock.
ITI opened at $4.59 on Friday. The firm has a market capitalization of $152.73 million, a price-to-earnings ratio of -114.75 and a beta of 0.21. Iteris has a twelve month low of $3.62 and a twelve month high of $7.88.
Iteris Company Profile
Iteris, Inc provides intelligent transportation systems technology solutions worldwide. The company's Roadway Sensors segment provides vehicle detection sensors and systems for traffic intersection management, communication systems, and roadway traffic data collection applications. Its products include Vantage detection system to detect vehicle presence at intersections, as well as vehicle count, speed, and other traffic data; Vantage Vector video/radar hybrid product, an vehicle detection sensor; and VantageLive!, a cloud-based platform; and Vantage systems equipped with smartcycle capability to differentiate between bicycles and other vehicles with a single video detection camera.
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