Northland Securities Reiterates “$8.00” Price Target for Iteris Inc (ITI)
A number of other research analysts have also weighed in on the company. B. Riley reaffirmed a buy rating and set a $9.00 price objective on shares of Iteris in a report on Friday. Dougherty & Co assumed coverage on Iteris in a report on Tuesday, July 18th. They set a buy rating and a $8.00 price objective on the stock. Finally, Zacks Investment Research lowered Iteris from a hold rating to a sell rating in a report on Tuesday, June 27th.
Shares of Iteris (NYSE ITI) traded up 1.64% on Friday, hitting $6.80. The stock had a trading volume of 202,673 shares. Iteris has a 12 month low of $3.03 and a 12 month high of $6.91. The stock’s market cap is $220.95 million. The firm has a 50 day moving average of $6.18 and a 200 day moving average of $5.53.
Iteris (NYSE:ITI) last announced its quarterly earnings data on Thursday, June 8th. The company reported ($0.04) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.04). Iteris had a negative return on equity of 33.30% and a negative net margin of 13.64%. The firm had revenue of $25.30 million for the quarter, compared to analyst estimates of $21.50 million. On average, equities analysts forecast that Iteris will post ($0.03) earnings per share for the current fiscal year.
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In other Iteris news, major shareholder Lloyd I. Miller III sold 28,226 shares of the company’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $6.50, for a total value of $183,469.00. Following the sale, the insider now owns 42,743 shares of the company’s stock, valued at $277,829.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders have sold 733,944 shares of company stock worth $4,061,066 in the last ninety days.
Hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers purchased a new stake in Iteris during the second quarter valued at $136,000. Spark Investment Management LLC raised 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 buying an additional 19,700 shares during the period. Trexquant Investment LP purchased a new stake in Iteris during the second quarter valued at $205,000. CAPROCK Group Inc. purchased a new stake in Iteris during the second quarter valued at $227,000. Finally, Schwab Charles Investment Management Inc. purchased a new stake in Iteris during the second quarter valued at $257,000.
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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