Iteris Inc (ITI) Stock Rating Upgraded by Zacks Investment Research
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 Monday. The brokerage currently has a $6.75 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 8.52% from the stock’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. “
ITI has been the topic of several other reports. Northland Securities set a $8.00 price target on Iteris and gave the company a “buy” rating in a research report on Friday, August 4th. Dougherty & Co started coverage on Iteris in a research report on Tuesday, July 18th. They set a “buy” rating and a $8.00 price target on the stock. Finally, B. Riley reissued a “buy” rating and set a $9.00 price target on shares of Iteris in a research report on Monday, August 14th.
Shares of Iteris (NYSE ITI) traded up 1.97% during mid-day trading on Monday, reaching $6.22. The company’s stock had a trading volume of 97,736 shares. Iteris has a 52-week low of $3.20 and a 52-week high of $6.91. The firm’s 50 day moving average is $6.21 and its 200-day moving average is $5.82. The company’s market capitalization is $202.56 million.
Iteris (NYSE:ITI) last posted its quarterly earnings results on Monday, August 7th. The company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02). The firm had revenue of $27.18 million for the quarter, compared to analyst estimates of $26.31 million. Iteris had a negative return on equity of 5.53% and a negative net margin of 2.05%. Analysts forecast that Iteris will post ($0.07) EPS for the current year.
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In other Iteris news, insider Thomas N. Blair sold 43,750 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Global Investors Fundamental sold 269,293 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $6.31, for a total value of $1,699,238.83. The disclosure for this sale can be found here. Insiders sold 481,051 shares of company stock worth $2,990,259 in the last 90 days.
A number of hedge funds and other institutional investors have recently modified their holdings of ITI. Rhumbline Advisers purchased a new position in Iteris in the second quarter valued at about $136,000. The Manufacturers Life Insurance Company purchased a new position in Iteris in the second quarter valued at about $137,000. New York State Common Retirement Fund purchased a new position in Iteris in the second quarter valued at about $156,000. Spark Investment Management LLC grew its stake 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 purchasing an additional 19,700 shares in the last quarter. Finally, Trexquant Investment LP purchased 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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