Shares of Iteris Inc (NASDAQ:ITI) have received an average recommendation of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $8.00.
Several analysts recently commented on the company. Zacks Investment Research raised Iteris from a “hold” rating to a “buy” rating and set a $4.25 price target on the stock in a research note on Friday, January 25th. TheStreet lowered Iteris from a “c-” rating to a “d+” rating in a research note on Tuesday, December 4th. Finally, Northland Securities set a $8.00 price target on Iteris and gave the company a “buy” rating in a research note on Thursday, December 20th.
In related news, insider Neil S. Subin sold 2,551,273 shares of the business’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $4.25, for a total value of $10,842,910.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 6.20% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised its position in Iteris by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 267,638 shares of the technology company’s stock valued at $998,000 after purchasing an additional 12,233 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Iteris by 37.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 281,085 shares of the technology company’s stock valued at $1,048,000 after purchasing an additional 77,069 shares during the last quarter. Ancora Advisors LLC raised its position in Iteris by 8.5% in the 4th quarter. Ancora Advisors LLC now owns 192,041 shares of the technology company’s stock valued at $717,000 after purchasing an additional 15,000 shares during the last quarter. Jane Street Group LLC bought a new position in Iteris in the 4th quarter valued at $49,000. Finally, Stone Ridge Asset Management LLC raised its position in Iteris by 72.2% in the 4th quarter. Stone Ridge Asset Management LLC now owns 20,497 shares of the technology company’s stock valued at $76,000 after purchasing an additional 8,597 shares during the last quarter. Hedge funds and other institutional investors own 33.87% of the company’s stock.
Shares of ITI stock opened at $4.08 on Friday. The firm has a market capitalization of $136.08 million, a P/E ratio of -102.00 and a beta of 0.62. Iteris has a one year low of $3.24 and a one year high of $5.99.
Iteris (NASDAQ:ITI) last announced its quarterly earnings results on Wednesday, February 6th. The technology company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.01). The company had revenue of $23.14 million during the quarter, compared to analyst estimates of $24.18 million. Iteris had a negative net margin of 7.93% and a negative return on equity of 9.92%. Equities analysts forecast that Iteris will post -0.17 earnings per share for the current year.
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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