Iteris Inc (ITI) Receives $9.50 Average Price Target from Analysts

Shares of Iteris Inc (NASDAQ:ITI) have received an average recommendation of “Buy” from the six ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $9.50.

Several research firms recently commented on ITI. Zacks Investment Research lowered shares of Iteris from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. B. Riley set a $9.00 target price on shares of Iteris and gave the company a “buy” rating in a research note on Thursday, January 11th. JMP Securities began coverage on shares of Iteris in a research note on Thursday, January 25th. They set an “outperform” rating and a $10.50 target price for the company. Finally, Northland Securities set a $9.00 target price on shares of Iteris and gave the company a “buy” rating in a research note on Monday, November 13th.

Iteris (NASDAQ ITI) traded down $0.72 during mid-day trading on Monday, reaching $6.06. 561,128 shares of the company traded hands, compared to its average volume of 286,997. Iteris has a fifty-two week low of $4.40 and a fifty-two week high of $8.17. The firm has a market capitalization of $222.30, a price-to-earnings ratio of -33.66 and a beta of -0.45.

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

In other news, insider Todd Kreter sold 37,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $6.10, for a total transaction of $228,750.00. Following the sale, the insider now owns 40,803 shares in the company, valued at $248,898.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas N. Blair sold 31,250 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $6.88, for a total transaction of $215,000.00. Following the sale, the insider now owns 12,500 shares in the company, valued at approximately $86,000. The disclosure for this sale can be found here. Insiders have sold 167,891 shares of company stock worth $1,191,273 in the last 90 days. 4.30% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in ITI. Cowen Prime Services LLC increased its stake in Iteris by 180.7% in the 3rd quarter. Cowen Prime Services LLC now owns 563,395 shares of the technology company’s stock valued at $3,747,000 after buying an additional 362,650 shares during the period. State Street Corp acquired a new position in Iteris in the 2nd quarter valued at approximately $1,606,000. Northern Trust Corp increased its stake in Iteris by 256.5% in the 2nd quarter. Northern Trust Corp now owns 306,623 shares of the technology company’s stock valued at $1,907,000 after buying an additional 220,625 shares during the period. B. Riley Financial Inc. acquired a new position in Iteris in the 3rd quarter valued at approximately $1,371,000. Finally, Vanguard Group Inc. increased its stake in Iteris by 28.0% in the 2nd quarter. Vanguard Group Inc. now owns 813,850 shares of the technology company’s stock valued at $5,062,000 after buying an additional 177,980 shares during the period. Hedge funds and other institutional investors own 33.33% 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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