Iteris Inc (ITI) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of Iteris Inc (NYSE:ITI) from a buy rating to a hold rating in a report released on Friday morning.
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. “
Several other brokerages have also recently commented on ITI. B. Riley restated a buy rating and set a $9.00 target price on shares of Iteris in a report on Wednesday, June 14th. Northland Securities set a $8.00 target price on Iteris and gave the stock a buy rating in a report on Friday, August 4th. Finally, Dougherty & Co started coverage on Iteris in a report on Tuesday, July 18th. They set a buy rating and a $8.00 target price on the stock.
Shares of Iteris (NYSE:ITI) opened at 6.22 on Friday. Iteris has a 12-month low of $3.20 and a 12-month high of $6.91. The company has a 50-day moving average of $6.21 and a 200 day moving average of $5.82. The firm’s market cap is $202.56 million.
Iteris (NYSE:ITI) last announced its earnings results on Monday, August 7th. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). The company had revenue of $27.18 million for the quarter, compared to analysts’ expectations of $26.31 million. Iteris had a negative return on equity of 5.53% and a negative net margin of 2.05%. Equities analysts predict that Iteris will post ($0.07) EPS for the current year.
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In related news, insider Thomas N. Blair sold 43,750 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $5.99, for a total value of $262,062.50. Following the transaction, the insider now owns 25,000 shares in the company, valued at $149,750. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Thomas N. Blair sold 17,096 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $6.00, for a total value of $102,576.00. Following the completion of the transaction, the vice president now owns 25,000 shares in the company, valued at approximately $150,000. The disclosure for this sale can be found here. Insiders have sold 481,051 shares of company stock worth $2,990,259 in the last 90 days.
A number of institutional investors have recently bought and sold shares of ITI. Rhumbline Advisers bought a new position in Iteris in the second quarter valued at about $136,000. The Manufacturers Life Insurance Company bought a new position in Iteris in the second quarter valued at about $137,000. New York State Common Retirement Fund bought a new position in Iteris in the second quarter valued at about $156,000. Spark Investment Management LLC boosted its holdings in Iteris by 191.3% in the second 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 last quarter. Finally, Trexquant Investment LP bought a new position in Iteris in the second quarter valued at about $205,000.
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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