Iteris, Inc. (NASDAQ:ITI) has earned a consensus rating of “Buy” from the six research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $9.50.
Several equities analysts recently commented on the stock. B. Riley set a $9.00 price target on shares of Iteris and gave the company a “buy” rating in a research note on Saturday, April 14th. Zacks Investment Research upgraded shares of Iteris from a “sell” rating to a “hold” rating in a research note on Wednesday, April 11th. Finally, JMP Securities assumed coverage on shares of Iteris in a research note on Thursday, January 25th. They issued an “outperform” rating and a $10.50 price target on the stock.
Shares of NASDAQ:ITI traded down $0.03 on Friday, hitting $5.23. The company had a trading volume of 90,215 shares, compared to its average volume of 289,564. Iteris has a 1-year low of $4.09 and a 1-year high of $8.17.
Iteris (NASDAQ:ITI) last released its quarterly earnings data on Wednesday, February 7th. The technology company reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. Iteris had a negative net margin of 4.32% and a negative return on equity of 10.05%. The firm had revenue of $26.03 million for the quarter, compared to the consensus estimate of $23.28 million. analysts predict that Iteris will post -0.12 earnings per share for the current fiscal year.
In other Iteris news, major shareholder Neil S. Subin sold 113,523 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $6.07, for a total transaction of $689,084.61. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas N. Blair sold 18,750 shares of the stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $6.05, for a total transaction of $113,437.50. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ITI. State Street Corp acquired a new stake in Iteris during the second quarter worth about $1,606,000. Cowen Prime Services LLC grew its stake in Iteris by 38.0% during the fourth quarter. Cowen Prime Services LLC now owns 777,492 shares of the technology company’s stock worth $5,419,000 after buying an additional 214,097 shares in the last quarter. Ardsley Advisory Partners acquired a new stake in Iteris during the fourth quarter worth about $1,220,000. Bank of New York Mellon Corp grew its stake in Iteris by 90.3% during the third quarter. Bank of New York Mellon Corp now owns 126,194 shares of the technology company’s stock worth $839,000 after buying an additional 59,866 shares in the last quarter. Finally, Royce & Associates LP grew its stake in Iteris by 9.5% during the fourth quarter. Royce & Associates LP now owns 576,000 shares of the technology company’s stock worth $4,015,000 after buying an additional 50,000 shares in the last quarter. Hedge funds and other institutional investors own 33.21% of the company’s stock.
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Iteris Company Profile
Iteris, Inc provides intelligent information solutions to traffic management and global agribusiness markets worldwide. It operates in three segments: Roadway Sensors, Transportation Systems, and Agriculture and Weather Analytics. The Roadway Sensors segment provides vehicle detection and information systems and products for traffic intersection control, incident detection, and roadway traffic data collection applications.
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