Zacks Investment Research Upgrades Iteris Inc (ITI) to Buy
Iteris Inc (NYSE:ITI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage presently has a $6.75 price target on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 10.11% from the company’s previous close.
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 brokerages have also recently commented on ITI. B. Riley restated a “buy” rating and set a $9.00 price target on shares of Iteris in a research note on Wednesday, June 14th. Northland Securities set a $8.00 price target on shares of Iteris and gave the stock a “buy” rating in a research note on Friday, August 4th. Finally, Dougherty & Co started coverage on shares of Iteris in a research note on Tuesday, July 18th. They set a “buy” rating and a $8.00 price target for the company.
Iteris (NYSE:ITI) opened at 6.13 on Tuesday. Iteris has a 1-year low of $3.20 and a 1-year high of $6.91. The company’s 50-day moving average price is $6.25 and its 200-day moving average price is $5.68. The stock’s market cap is $199.63 million.
Iteris (NYSE:ITI) last announced its quarterly earnings results on Monday, August 7th. The company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). The firm had revenue of $27.18 million during the quarter, compared to analysts’ expectations of $26.31 million. Iteris had a negative net margin of 13.64% and a negative return on equity of 33.30%. Analysts predict that Iteris will post ($0.07) EPS for the current year.
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In other news, Director Global Investors Fundamental sold 320,500 shares of Iteris stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $5.50, for a total value of $1,762,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas N. Blair sold 17,096 shares of Iteris stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $6.00, for a total transaction of $102,576.00. Following the completion of the transaction, the vice president now owns 25,000 shares of the company’s stock, valued at approximately $150,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 766,564 shares of company stock valued at $4,242,235.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Iteris by 28.0% in the second quarter. Vanguard Group Inc. now owns 813,850 shares of the company’s stock worth $5,062,000 after buying an additional 177,980 shares during the period. Royce & Associates LP boosted its position in Iteris by 39.9% in the second quarter. Royce & Associates LP now owns 526,000 shares of the company’s stock worth $3,272,000 after buying an additional 150,000 shares during the period. Northern Trust Corp boosted its position in Iteris by 256.5% in the second quarter. Northern Trust Corp now owns 306,623 shares of the company’s stock worth $1,907,000 after buying an additional 220,625 shares during the period. State Street Corp purchased a new position in Iteris during the second quarter worth about $1,606,000. Finally, King Luther Capital Management Corp boosted its position in Iteris by 27.0% in the second quarter. King Luther Capital Management Corp now owns 206,900 shares of the company’s stock worth $1,287,000 after buying an additional 44,033 shares during the period.
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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