$26.21 Million in Sales Expected for Iteris Inc (ITI) This Quarter

$26.21 Million in Sales Expected for Iteris Inc (ITI) This Quarter

Analysts forecast that Iteris Inc (NASDAQ:ITI) will report $26.21 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Iteris’ earnings. The highest sales estimate is $26.32 million and the lowest is $26.11 million. Iteris reported sales of $25.30 million during the same quarter last year, which indicates a positive year over year growth rate of 3.6%. The business is scheduled to issue its next quarterly earnings results on Thursday, June 14th.

On average, analysts expect that Iteris will report full year sales of $26.21 million for the current year, with estimates ranging from $104.57 million to $104.77 million. For the next year, analysts expect that the business will post sales of $109.86 million per share, with estimates ranging from $109.24 million to $110.48 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Iteris.

A number of brokerages have issued reports on ITI. JMP Securities began coverage on shares of Iteris in a report on Thursday, January 25th. They set an “outperform” rating and a $10.50 target price on the stock. Northland Securities set a $9.00 target price on shares of Iteris and gave the company a “buy” rating in a report on Monday, November 13th. B. Riley reissued a “buy” rating and set a $9.00 target price on shares of Iteris in a report on Wednesday, November 8th. Finally, Zacks Investment Research cut shares of Iteris from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Iteris currently has a consensus rating of “Buy” and an average target price of $8.75.

Shares of Iteris (NASDAQ:ITI) opened at $5.52 on Friday. Iteris has a 1-year low of $4.60 and a 1-year high of $8.17.

In other news, major shareholder Neil S. Subin sold 113,523 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $6.07, for a total value of $689,084.61. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Todd Kreter sold 37,500 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 40,803 shares in the company, valued at approximately $248,898.30. The disclosure for this sale can be found here. Insiders have sold a total of 281,414 shares of company stock worth $1,880,358 in the last three months. Insiders own 4.30% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in ITI. GSA Capital Partners LLP bought a new position in shares of Iteris in the third quarter worth $116,000. SG Americas Securities LLC bought a new position in shares of Iteris in the third quarter worth $120,000. Wells Fargo & Company MN increased its holdings in shares of Iteris by 1,730.8% in the third quarter. Wells Fargo & Company MN now owns 18,308 shares of the technology company’s stock worth $122,000 after purchasing an additional 17,308 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of Iteris in the second quarter worth $137,000. Finally, New York State Common Retirement Fund bought a new position in shares of Iteris in the second quarter worth $156,000. 33.62% of the stock is currently 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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Wall Street analysts predict that Iteris Inc (NASDAQ:ITI) will report sales of $26.21 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Iteris’ earnings. The highest sales estimate is $26.32 million and the lowest is $26.11 million. Iteris reported sales of $25.30 million during the same quarter last year, which indicates a positive year-over-year growth rate of 3.6%. The firm is scheduled to issue its next earnings report on Thursday, June 14th.

According to Zacks, analysts expect that Iteris will report full year sales of $26.21 million for the current year, with estimates ranging from $104.57 million to $104.77 million. For the next year, analysts anticipate that the company will report sales of $109.86 million per share, with estimates ranging from $109.24 million to $110.48 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Iteris.

ITI has been the topic of a number of research analyst reports. B. Riley reaffirmed a “buy” rating and issued a $9.00 target price on shares of Iteris in a report on Wednesday, November 8th. Zacks Investment Research raised Iteris from a “sell” rating to a “hold” rating in a report on Tuesday, December 5th. JMP Securities initiated coverage on Iteris in a report on Thursday, January 25th. They issued an “outperform” rating and a $10.50 target price on the stock. Finally, Northland Securities set a $9.00 target price on Iteris and gave the company a “buy” rating in a report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Iteris has an average rating of “Buy” and a consensus price target of $8.75.

In other news, major shareholder Neil S. Subin sold 99,141 shares of Iteris stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $7.54, for a total transaction of $747,523.14. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Neil S. Subin sold 113,523 shares of Iteris stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $6.07, for a total value of $689,084.61. The disclosure for this sale can be found here. Insiders sold a total of 281,414 shares of company stock worth $1,880,358 in the last ninety days. Insiders own 4.30% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Iteris by 28.0% during the 2nd quarter. Vanguard Group Inc. now owns 813,850 shares of the technology company’s stock worth $5,062,000 after purchasing an additional 177,980 shares in the last quarter. Cowen Prime Services LLC grew its holdings in shares of Iteris by 38.0% during the 4th quarter. Cowen Prime Services LLC now owns 777,492 shares of the technology company’s stock worth $5,419,000 after purchasing an additional 214,097 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Iteris by 9.5% during the 4th quarter. Royce & Associates LP now owns 576,000 shares of the technology company’s stock worth $4,015,000 after purchasing an additional 50,000 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Iteris by 256.5% during the 2nd quarter. Northern Trust Corp now owns 306,623 shares of the technology company’s stock worth $1,907,000 after purchasing an additional 220,625 shares in the last quarter. Finally, State Street Corp acquired a new stake in shares of Iteris during the 2nd quarter worth approximately $1,606,000. 33.62% of the stock is currently owned by institutional investors.

Iteris (NASDAQ:ITI) opened at $5.52 on Friday. Iteris has a one year low of $4.60 and a one year high of $8.17.

WARNING: This article was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this article on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark laws. The correct version of this article can be viewed at https://www.dispatchtribunal.com/2018/02/18/26-21-million-in-sales-expected-for-iteris-inc-iti-this-quarter.html.

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.

Get a free copy of the Zacks research report on Iteris (ITI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Iteris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iteris and related companies with MarketBeat.com's FREE daily email newsletter.

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