Zacks Investment Research Downgrades Iteris (ITI) to Sell

Zacks Investment Research downgraded shares of Iteris (NASDAQ:ITI) from a hold rating to a sell rating in a research report report published on Tuesday, January 9th.

According to Zacks, “Iteris, Inc. is a leading provider of outdoor vision systems and sensors that optimize the flow of traffic and enhance driver safety. Iteris combines outdoor image processing, traffic engineering, and information technology to offer a broad range of transportation and safety solutions. “

Several other research firms have also recently commented on ITI. Northland Securities set a $9.00 price target on Iteris and gave the company a buy rating in a report on Monday, November 13th. B. Riley reaffirmed a buy rating and issued a $9.00 price target on shares of Iteris in a report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $8.31.

Shares of Iteris (ITI) traded down $0.13 on Tuesday, hitting $7.46. The stock had a trading volume of 187,486 shares, compared to its average volume of 318,633. The stock has a market capitalization of $245.30, a P/E ratio of -37.30 and a beta of -0.46. Iteris has a 1 year low of $4.32 and a 1 year high of $8.17.

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

In other Iteris news, insider Todd Kreter sold 37,500 shares of Iteris stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $6.10, for a total transaction of $228,750.00. Following the completion of the sale, the insider now directly owns 40,803 shares of the company’s stock, valued at approximately $248,898.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas N. Blair sold 31,250 shares of Iteris 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 disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of ITI. Wells Fargo & Company MN increased its position in Iteris by 1,730.8% in the 3rd quarter. Wells Fargo & Company MN now owns 18,308 shares of the technology company’s stock valued at $122,000 after acquiring an additional 17,308 shares during the period. GSA Capital Partners LLP acquired a new position in Iteris in the 3rd quarter valued at about $116,000. SG Americas Securities LLC acquired a new position in Iteris in the 3rd quarter valued at about $120,000. Rhumbline Advisers acquired a new position in Iteris in the 2nd quarter valued at about $136,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Iteris in the 2nd quarter valued at about $137,000. Institutional investors and hedge funds own 33.34% of the company’s stock.

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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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