Zacks: Iteris Inc (ITI) Given $8.50 Average Target Price by Analysts

Iteris Inc (NYSE:ITI) has been assigned an average broker rating score of 1.33 (Strong Buy) from the three analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a buy rating and two have issued a strong buy rating on the company. Iteris’ rating score has declined by 33% from 90 days ago as a result of a number of analysts’ ratings changes.

Brokerages have set a 1 year consensus target price of $8.50 for the company and are forecasting that the company will post ($0.01) EPS for the current quarter, according to Zacks. Zacks has also assigned Iteris an industry rank of 249 out of 265 based on the ratings given to its competitors.

A number of equities analysts have recently commented on ITI shares. Zacks Investment Research upgraded Iteris from a “hold” rating to a “buy” rating and set a $7.25 price objective on the stock in a research note on Saturday, September 9th. B. Riley restated a “buy” rating and set a $9.00 price target on shares of Iteris in a research note on Wednesday, August 9th. Northland Securities set a $8.00 price target on Iteris and gave the company a “buy” rating in a research note on Friday, August 4th. Finally, Dougherty & Co started coverage on Iteris in a research note on Tuesday, July 18th. They set a “buy” rating and a $8.00 price target on the stock.

Shares of Iteris (NYSE ITI) traded up 4.50% during midday trading on Friday, reaching $6.96. The company’s stock had a trading volume of 34,796 shares. The stock’s 50-day moving average is $6.86 and its 200 day moving average is $6.18. Iteris has a 12 month low of $3.20 and a 12 month high of $8.17. The stock’s market capitalization is $226.66 million.

Iteris (NYSE:ITI) last posted its quarterly earnings data on Monday, August 7th. The company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). The business had revenue of $27.18 million for the quarter, compared to analyst estimates of $26.31 million. Iteris had a negative return on equity of 5.53% and a negative net margin of 2.05%. On average, analysts expect that Iteris will post ($0.07) earnings per share for the current fiscal year.

In related news, VP Thomas N. Blair sold 17,096 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $6.00, for a total transaction of $102,576.00. Following the transaction, the vice president now directly owns 25,000 shares in the company, valued at $150,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas N. Blair sold 43,750 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $5.99, for a total value of $262,062.50. Following the transaction, the insider now owns 25,000 shares in the company, valued at $149,750. The disclosure for this sale can be found here. Insiders have sold 481,051 shares of company stock worth $2,990,259 over the last 90 days.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Spark Investment Management LLC increased its stake in Iteris by 191.3% during the second quarter. Spark Investment Management LLC now owns 30,000 shares of the company’s stock valued at $186,000 after acquiring an additional 19,700 shares during the period. Rhumbline Advisers bought a new position in Iteris during the second quarter valued at about $136,000. The Manufacturers Life Insurance Company bought a new position in Iteris during the second quarter valued at about $137,000. New York State Common Retirement Fund bought a new position in Iteris during the second quarter valued at about $156,000. Finally, Sterling Capital Management LLC increased its stake in Iteris by 144.1% during the second quarter. Sterling Capital Management LLC now owns 47,600 shares of the company’s stock valued at $296,000 after acquiring an additional 28,100 shares during the period.

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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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