Zacks Investment Research downgraded shares of Iteris (NASDAQ:ITI) from a hold rating to a sell rating in a research report sent to investors 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. “
A number of other equities research analysts have also weighed in on ITI. B. Riley reaffirmed a buy rating and set a $9.00 target price on shares of Iteris in a research note on Wednesday, November 8th. 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Iteris presently has an average rating of Buy and an average price target of $8.75.
Iteris (ITI) opened at $6.06 on Tuesday. Iteris has a 52-week low of $4.40 and a 52-week high of $8.17. The company has a market cap of $222.30, a price-to-earnings ratio of -33.66 and a beta of -0.45.
Iteris (NASDAQ:ITI) last released its quarterly earnings data 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 net margin of 6.18% and a negative return on equity of 10.73%. analysts expect that Iteris will post -0.11 earnings per share for the current year.
In other Iteris news, major shareholder Neil S. Subin sold 99,141 shares of Iteris stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $7.54, for a total value of $747,523.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the insider now directly owns 40,803 shares of the company’s stock, valued at $248,898.30. 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 three months. 4.30% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cowen Prime Services LLC increased its holdings in Iteris by 180.7% during the third 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 last quarter. State Street Corp purchased a new stake in Iteris during the second quarter valued at approximately $1,606,000. Northern Trust Corp increased its holdings in Iteris by 256.5% during the second 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 last quarter. B. Riley Financial Inc. purchased a new stake in Iteris during the third quarter valued at approximately $1,371,000. Finally, Vanguard Group Inc. increased its holdings in Iteris by 28.0% during the second 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 last quarter. 33.33% of the stock is owned by hedge funds and other institutional investors.
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Iteris Company Profile
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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