Iteris Inc (ITI) Given Average Rating of “Strong Buy” by Analysts
Iteris Inc (NYSE:ITI) has been given an average broker rating score of 1.33 (Strong Buy) from the three brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a buy rating and two have given a strong buy rating to the company. Iteris’ rating score has declined by 33% in the last three months as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a 1 year consensus price objective of $8.50 for the company and are predicting that the company will post ($0.01) EPS for the current quarter, according to Zacks. Zacks has also assigned Iteris an industry rank of 248 out of 265 based on the ratings given to its competitors.
A number of brokerages have recently weighed in on ITI. Zacks Investment Research lowered shares of Iteris from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. B. Riley restated a “buy” rating and issued a $9.00 price objective on shares of Iteris in a report on Monday, August 14th.
In related news, insider Thomas N. Blair sold 43,750 shares of the stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $5.99, for a total transaction of $262,062.50. Following the sale, the insider now directly owns 25,000 shares of the company’s stock, valued at approximately $149,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Global Investors Fundamental sold 110,912 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $6.12, for a total transaction of $678,781.44. The disclosure for this sale can be found here. Insiders sold a total of 481,051 shares of company stock worth $2,990,259 over the last ninety days.
A number of hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers bought a new position in Iteris during the 2nd quarter valued at about $136,000. The Manufacturers Life Insurance Company bought a new position in Iteris during the 2nd quarter valued at about $137,000. New York State Common Retirement Fund bought a new position in Iteris during the 2nd quarter valued at about $156,000. Spark Investment Management LLC lifted its stake in Iteris by 191.3% during the 2nd quarter. Spark Investment Management LLC now owns 30,000 shares of the company’s stock valued at $186,000 after acquiring an additional 19,700 shares during the period. Finally, Trexquant Investment LP bought a new position in Iteris during the 2nd quarter valued at about $205,000.
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Shares of Iteris (ITI) traded down 1.73% on Tuesday, reaching $7.38. 104,772 shares of the company were exchanged. The company’s 50 day moving average is $6.67 and its 200 day moving average is $6.08. The firm’s market capitalization is $240.34 million. Iteris has a 12-month low of $3.20 and a 12-month high of $8.17.
Iteris (NYSE:ITI) last announced its earnings results on Monday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). Iteris had a negative net margin of 2.05% and a negative return on equity of 5.53%. The business had revenue of $27.18 million during the quarter, compared to analyst estimates of $26.31 million. Analysts forecast that Iteris will post ($0.07) earnings per share for the current year.
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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