ValuEngine Upgrades Iteris (ITI) to “Buy”

Iteris (NASDAQ:ITI) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

A number of other analysts have also commented on the company. Zacks Investment Research lowered Iteris from a “hold” rating to a “sell” rating in a research note on Wednesday, April 4th. B. Riley set a $9.00 price target on Iteris and gave the stock a “buy” rating in a research note on Saturday, April 14th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Iteris currently has an average rating of “Buy” and an average price target of $8.75.

NASDAQ:ITI opened at $4.84 on Friday. The company has a market cap of $158.38 million, a PE ratio of -121.00 and a beta of -0.11. Iteris has a fifty-two week low of $4.09 and a fifty-two week high of $8.17.

Iteris (NASDAQ:ITI) last released its quarterly earnings data on Thursday, June 7th. The technology company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). The firm had revenue of $25.27 million during the quarter, compared to analyst estimates of $24.96 million. Iteris had a negative return on equity of 10.29% and a negative net margin of 3.40%. sell-side analysts forecast that Iteris will post -0.08 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of ITI. Ardsley Advisory Partners bought a new position in Iteris in the fourth quarter worth $1,220,000. HL Financial Services LLC bought a new position in Iteris in the first quarter worth $588,000. Cowen Prime Services LLC raised its holdings in Iteris by 11.8% in the first quarter. Cowen Prime Services LLC now owns 869,492 shares of the technology company’s stock worth $4,313,000 after purchasing an additional 92,000 shares in the last quarter. Royce & Associates LP raised its holdings in Iteris by 9.5% in the fourth 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. Finally, B. Riley Financial Inc. raised its holdings in Iteris by 26.9% in the first quarter. B. Riley Financial Inc. now owns 200,688 shares of the technology company’s stock worth $995,000 after purchasing an additional 42,540 shares in the last quarter. Institutional investors and hedge funds own 29.95% of the company’s stock.

Iteris Company Profile

Iteris, Inc provides intelligent transportation systems technology solutions worldwide. The company's Roadway Sensors segment provides vehicle detection sensors and systems for traffic intersection management, communication systems, and roadway traffic data collection applications. Its products include Vantage detection system to detect vehicle presence at intersections, as well as vehicle count, speed, and other traffic data; Vantage Vector video/radar hybrid product, an vehicle detection sensor; and VantageLive!, a cloud-based platform; and Vantage systems equipped with smartcycle capability to differentiate between bicycles and other vehicles with a single video detection camera.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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