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 research report issued to clients and investors on Tuesday. The firm presently has a $7.25 price objective on the stock. Zacks Investment Research‘s price target suggests a potential upside of 7.49% 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 also recently issued reports on ITI. Northland Securities set a $8.00 price target on Iteris and gave the company a “buy” rating in a report on Friday, August 4th. B. Riley reaffirmed a “buy” rating and set a $9.00 price target on shares of Iteris in a report on Friday, August 4th. Finally, Dougherty & Co began coverage on Iteris in a report on Tuesday, July 18th. They set a “buy” rating and a $8.00 price target on the stock.
Shares of Iteris (NYSE:ITI) opened at 6.71 on Tuesday. The stock’s 50 day moving average price is $6.21 and its 200-day moving average price is $5.83. The company’s market capitalization is $218.52 million. Iteris has a 1-year low of $3.20 and a 1-year high of $6.91.
Iteris (NYSE:ITI) last announced its quarterly earnings results on Monday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02). The firm had revenue of $27.18 million for the quarter, compared to the consensus estimate of $26.31 million. Iteris had a negative return on equity of 5.53% and a negative net margin of 2.05%. On average, equities analysts predict that Iteris will post ($0.07) EPS for the current year.
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In other Iteris news, Director Global Investors Fundamental sold 269,293 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $6.31, for a total value of $1,699,238.83. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Thomas N. Blair sold 17,096 shares of the 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 directly owns 25,000 shares in the company, valued at approximately $150,000. The disclosure for this sale can be found here. In the last three months, insiders sold 481,051 shares of company stock worth $2,990,259.
Hedge funds have recently bought and sold shares of the business. 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 lifted 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 period. 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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