Iteris Inc (ITI) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research cut shares of Iteris Inc (NYSE:ITI) from a buy rating to a hold rating in a report released on Friday.
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 also recently commented on ITI. Northland Securities set a $8.00 target price on shares of Iteris and gave the stock a buy rating in a research note on Friday, August 4th. B. Riley reiterated a buy rating and set a $9.00 target price on shares of Iteris in a research note on Friday, August 4th. Finally, Dougherty & Co assumed coverage on shares of Iteris in a research note on Tuesday, July 18th. They set a buy rating and a $8.00 target price for the company.
Shares of Iteris (NYSE ITI) traded down 0.84% on Friday, reaching $5.92. The company’s stock had a trading volume of 70,052 shares. The firm’s market capitalization is $192.79 million. The firm has a 50-day moving average price of $6.25 and a 200 day moving average price of $5.68. Iteris has a one year low of $3.20 and a one year high of $6.91.
Iteris (NYSE:ITI) last issued its 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 the consensus estimate of $26.31 million. Iteris had a negative net margin of 13.64% and a negative return on equity of 33.30%. On average, analysts anticipate that Iteris will post ($0.07) earnings per share for the current fiscal year.
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In other Iteris news, Director Global Investors Fundamental sold 385,218 shares of the company’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $5.49, for a total value of $2,114,846.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas N. Blair sold 17,096 shares of the company’s stock in a transaction 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 quarter, insiders have sold 766,564 shares of company stock valued at $4,242,235.
A number of institutional investors have recently added to or reduced their stakes in ITI. Vanguard Group Inc. increased its position in Iteris by 28.0% in the second quarter. Vanguard Group Inc. now owns 813,850 shares of the company’s stock valued at $5,062,000 after buying an additional 177,980 shares in the last quarter. Royce & Associates LP increased its position in Iteris by 39.9% in the second quarter. Royce & Associates LP now owns 526,000 shares of the company’s stock valued at $3,272,000 after buying an additional 150,000 shares in the last quarter. Northern Trust Corp increased its position in Iteris by 256.5% in the second quarter. Northern Trust Corp now owns 306,623 shares of the company’s stock valued at $1,907,000 after buying an additional 220,625 shares in the last quarter. State Street Corp bought a new position in Iteris during the second quarter valued at about $1,606,000. Finally, King Luther Capital Management Corp increased 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 valued at $1,287,000 after buying an additional 44,033 shares in the last quarter.
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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