Iteris Inc (ITI) Upgraded at Zacks Investment Research
Iteris Inc (NYSE:ITI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
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 subject of several other reports. Dougherty & Co initiated coverage on Iteris in a report on Tuesday, July 18th. They set a “buy” rating and a $8.00 price objective for the company. B. Riley reissued a “buy” rating and set a $9.00 price target on shares of Iteris in a research report on Friday, August 4th. Finally, Northland Securities set a $8.00 price target on Iteris and gave the stock a “buy” rating in a research report on Tuesday, July 4th.
Shares of Iteris (NYSE ITI) traded down 1.09% during mid-day trading on Wednesday, hitting $6.33. The company had a trading volume of 84,415 shares. The firm has a 50-day moving average price of $6.18 and a 200 day moving average price of $5.53. The firm’s market capitalization is $205.68 million. Iteris has a 12 month low of $3.03 and a 12 month high of $6.91.
Iteris (NYSE:ITI) last issued its quarterly earnings data on Monday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.02). The firm had revenue of $27.18 million during the quarter, compared to analysts’ expectations of $26.31 million. Iteris had a negative return on equity of 33.30% and a negative net margin of 13.64%. On average, equities research analysts forecast that Iteris will post ($0.02) earnings per share for the current fiscal year.
In other Iteris news, Director Global Investors Fundamental sold 385,218 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $5.49, for a total transaction of $2,114,846.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Lloyd I. Miller III sold 28,226 shares of the firm’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 transaction, the insider now directly owns 42,743 shares of the company’s stock, valued at approximately $277,829.50. The disclosure for this sale can be found here. Insiders have sold 733,944 shares of company stock valued at $4,061,066 in the last three months.
A number of institutional investors have recently added to or reduced their stakes in the company. CAPROCK Group Inc. bought a new position in Iteris during the second quarter valued at $227,000. Essex Investment Management Co. LLC bought a new position in Iteris during the second quarter valued at $724,000. Spark Investment Management LLC increased its stake in shares of Iteris by 191.3% in 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. Strs Ohio acquired a new stake in shares of Iteris during the second quarter worth approximately $396,000. Finally, Cowen Prime Services LLC acquired a new stake in shares of Iteris during the second quarter worth approximately $1,249,000.
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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