Iteris (NASDAQ:ITI) PT Set at $9.00 by B. Riley

Iteris (NASDAQ:ITI) received a $9.00 price objective from research analysts at B. Riley in a note issued to investors on Thursday, February 8th. The brokerage currently has a “buy” rating on the technology company’s stock. B. Riley’s price target suggests a potential upside of 61.00% from the stock’s previous close. B. Riley also issued estimates for Iteris’ FY2021 earnings at $0.49 EPS.

Several other research firms have also issued reports on ITI. Zacks Investment Research lowered shares of Iteris from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. JMP Securities assumed coverage on shares of Iteris in a research report on Thursday, January 25th. They set an “outperform” rating and a $10.50 target price for the company. Finally, Northland Securities set a $9.00 target price on shares of Iteris and gave the stock a “buy” rating in a research report on Monday, November 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $8.75.

Iteris (ITI) traded up $0.17 during mid-day trading on Thursday, hitting $5.59. 729,400 shares of the company traded hands, compared to its average volume of 325,087. Iteris has a 1-year low of $4.60 and a 1-year high of $8.17.

In other Iteris news, major shareholder Neil S. Subin sold 113,523 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $6.07, for a total transaction of $689,084.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thomas N. Blair sold 31,250 shares of the company’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $6.88, for a total transaction of $215,000.00. Following the sale, the insider now directly owns 12,500 shares in the company, valued at $86,000. The disclosure for this sale can be found here. Insiders have sold 281,414 shares of company stock valued at $1,880,358 in the last ninety days. 4.30% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. acquired a new position in shares of Iteris during the second quarter worth approximately $257,000. Essex Investment Management Co. LLC lifted its position in shares of Iteris by 22.7% during the third quarter. Essex Investment Management Co. LLC now owns 142,797 shares of the technology company’s stock worth $950,000 after purchasing an additional 26,412 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Iteris by 309.9% during the second quarter. Bank of New York Mellon Corp now owns 66,328 shares of the technology company’s stock worth $413,000 after purchasing an additional 50,145 shares in the last quarter. Cowen Prime Services LLC lifted its position in shares of Iteris by 38.0% during the fourth quarter. Cowen Prime Services LLC now owns 777,492 shares of the technology company’s stock worth $5,419,000 after purchasing an additional 214,097 shares in the last quarter. Finally, Teachers Advisors LLC acquired a new position in Iteris in the second quarter valued at approximately $268,000. Institutional investors own 33.62% of the company’s stock.

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About Iteris

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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