Analysts Set $8.50 Price Target for Iteris Inc (ITI)
Shares of Iteris Inc (NYSE:ITI) have been given an average broker rating score of 1.33 (Strong Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a buy rating and two have issued a strong buy rating on the company. Iteris’ rating score has declined by 33% in the last three months as a result of various analysts’ ratings changes.
Brokers have set a 12-month consensus price objective of $8.50 for the company and are anticipating that the company will post ($0.01) EPS for the current quarter, according to Zacks. Zacks has also assigned Iteris an industry rank of 249 out of 265 based on the ratings given to related companies.
A number of brokerages have recently commented on ITI. Zacks Investment Research raised shares of Iteris from a “hold” rating to a “buy” rating and set a $6.75 target price for the company in a report on Monday. B. Riley reaffirmed a “buy” rating and issued a $9.00 target price on shares of Iteris in a report on Monday, August 14th. Finally, Northland Securities set a $8.00 target price on shares of Iteris and gave the company a “buy” rating in a report on Friday, August 4th.
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Shares of Iteris (NYSE ITI) opened at 6.22 on Tuesday. The firm’s market capitalization is $202.56 million. The firm’s 50-day moving average price is $6.21 and its 200 day moving average price is $5.82. Iteris has a 12 month low of $3.20 and a 12 month high of $6.91.
Iteris (NYSE:ITI) last announced its earnings results on Monday, August 7th. The company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). Iteris had a negative net margin of 2.05% and a negative return on equity of 5.53%. The business had revenue of $27.18 million during the quarter, compared to analysts’ expectations of $26.31 million. Analysts anticipate that Iteris will post ($0.07) earnings per share for the current fiscal year.
In related news, 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 transaction of $102,576.00. Following the completion of the transaction, the vice president now directly owns 25,000 shares of the company’s stock, valued at $150,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Global Investors Fundamental sold 110,912 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $6.12, for a total transaction of $678,781.44. The disclosure for this sale can be found here. Insiders have sold 481,051 shares of company stock valued at $2,990,259 over the last three months.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC raised its holdings in Iteris by 144.1% during the second quarter. Sterling Capital Management LLC now owns 47,600 shares of the company’s stock worth $296,000 after purchasing an additional 28,100 shares in the last quarter. California State Teachers Retirement System purchased a new position in Iteris during the second quarter worth about $260,000. The Manufacturers Life Insurance Company purchased a new position in Iteris during the second quarter worth about $137,000. State Street Corp purchased a new position in Iteris during the second quarter worth about $1,606,000. Finally, TIAA FSB purchased a new position in Iteris during the second quarter worth about $561,000.
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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