Iteris Inc (ITI) Downgraded to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of Iteris Inc (NYSE:ITI) from a buy rating to a hold rating in a report released on Friday morning.
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. “
Other research analysts also recently issued research reports about the company. B. Riley reiterated a buy rating and set a $9.00 target price on shares of Iteris in a report on Monday, August 14th. Northland Securities set a $8.00 target price on Iteris and gave the stock a buy rating in a report on Friday, August 4th. Finally, Dougherty & Co initiated coverage on Iteris in a report on Tuesday, July 18th. They set a buy rating and a $8.00 target price on the stock.
Shares of Iteris (NYSE ITI) traded up 3.31% during midday trading on Friday, reaching $6.56. The company’s stock had a trading volume of 174,219 shares. The stock has a 50-day moving average price of $6.21 and a 200-day moving average price of $5.83. Iteris has a 52-week low of $3.20 and a 52-week high of $6.91. The stock’s market cap is $213.63 million.
Iteris (NYSE:ITI) last posted its earnings results on Monday, August 7th. The company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). Iteris had a negative return on equity of 5.53% and a negative net margin of 2.05%. The firm had revenue of $27.18 million for the quarter, compared to the consensus estimate of $26.31 million. Equities research analysts anticipate that Iteris will post ($0.07) earnings per share for the current fiscal year.
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In related news, Director Global Investors Fundamental sold 269,293 shares of the company’s stock in a transaction that occurred on 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 hyperlink. Also, insider Thomas N. Blair sold 43,750 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $5.99, for a total value of $262,062.50. Following the completion of 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 a total of 481,051 shares of company stock worth $2,990,259 in the last quarter.
Several institutional investors have recently bought and sold shares of ITI. Strs Ohio purchased a new stake in shares of Iteris in the 2nd quarter worth approximately $396,000. Spark Investment Management LLC grew its stake in shares of Iteris by 191.3% in the 2nd 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 during the last quarter. CAPROCK Group Inc. purchased a new stake in shares of Iteris in the 2nd quarter worth approximately $227,000. Essex Investment Management Co. LLC purchased a new stake in shares of Iteris in the 2nd quarter worth approximately $724,000. Finally, Trexquant Investment LP purchased a new stake in shares of Iteris in the 2nd quarter worth approximately $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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