Brokerages Set $8.50 Price Target for Iteris Inc (ITI)
Shares of Iteris Inc (NYSE:ITI) have been given a consensus broker rating score of 1.33 (Strong Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a buy rating and two have given a strong buy rating to the company. Iteris’ rating score has declined by 33% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a 12 month consensus price target of $8.50 for the company and are forecasting that the company will post ($0.01) EPS for the current quarter, according to Zacks. Zacks has also assigned Iteris an industry rank of 213 out of 265 based on the ratings given to related companies.
A number of equities analysts recently issued reports on the stock. Northland Securities set a $8.00 target price on shares of Iteris and gave the stock a “buy” rating in a research report on Friday, August 4th. B. Riley reaffirmed a “buy” rating and set a $9.00 target price on shares of Iteris in a research report on Friday, August 4th. Zacks Investment Research lowered shares of Iteris from a “buy” rating to a “hold” rating in a research report on Friday, September 22nd. Finally, Dougherty & Co assumed coverage on shares of Iteris in a research report on Tuesday, July 18th. They set a “buy” rating and a $8.00 target price on the stock.
Iteris (NYSE ITI) traded up 3.03% on Monday, reaching $7.47. 183,414 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $6.31 and a 200 day moving average of $5.96. Iteris has a 12 month low of $3.20 and a 12 month high of $7.77. The stock’s market capitalization is $243.27 million.
Iteris (NYSE:ITI) last released its quarterly earnings results on Monday, August 7th. The company reported ($0.02) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.02). Iteris had a negative net margin of 2.05% and a negative return on equity of 5.53%. The company had revenue of $27.18 million for the quarter, compared to analyst estimates of $26.31 million. Equities analysts predict that Iteris will post ($0.07) earnings per share for the current fiscal year.
In other Iteris news, Director Global Investors Fundamental sold 110,912 shares of Iteris stock in a transaction on Friday, September 15th. The shares were sold at an average price of $6.12, for a total transaction of $678,781.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Thomas N. Blair sold 43,750 shares of Iteris stock in a transaction on Friday, August 25th. The stock was sold at an average price of $5.99, for a total transaction of $262,062.50. Following the sale, the insider now owns 25,000 shares in the company, valued at approximately $149,750. 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 ninety days.
A number of institutional investors and hedge funds have recently bought and sold shares of ITI. Strs Ohio acquired a new stake in Iteris during the second quarter worth $396,000. Spark Investment Management LLC boosted its stake in Iteris by 191.3% during the second quarter. Spark Investment Management LLC now owns 30,000 shares of the company’s stock worth $186,000 after buying an additional 19,700 shares in the last quarter. CAPROCK Group Inc. acquired a new stake in Iteris during the second quarter worth $227,000. Essex Investment Management Co. LLC acquired a new stake in Iteris during the second quarter worth $724,000. Finally, Trexquant Investment LP acquired a new stake in Iteris during the second quarter worth $205,000.
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Iteris Company Profile
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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