Analysts Set Iteris, Inc. (ITI) PT at $9.50

Iteris, Inc. (NASDAQ:ITI) has received an average recommendation of “Buy” from the six analysts that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $9.50.

A number of analysts have commented on the stock. Zacks Investment Research raised shares of Iteris from a “sell” rating to a “hold” rating in a report on Wednesday, April 11th. B. Riley set a $9.00 target price on shares of Iteris and gave the company a “buy” rating in a report on Thursday, January 11th. Finally, JMP Securities assumed coverage on shares of Iteris in a report on Thursday, January 25th. They set an “outperform” rating and a $10.50 target price for the company.

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In other Iteris news, major shareholder Neil S. Subin sold 113,523 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $6.07, for a total value of $689,084.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas N. Blair sold 18,750 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $6.05, for a total transaction of $113,437.50. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Cowen Prime Services LLC boosted 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 acquiring an additional 214,097 shares during the last quarter. Royce & Associates LP boosted its position in shares of Iteris by 9.5% during the fourth quarter. Royce & Associates LP now owns 576,000 shares of the technology company’s stock worth $4,015,000 after acquiring an additional 50,000 shares during the last quarter. State Street Corp bought a new position in shares of Iteris during the second quarter worth $1,606,000. Ardsley Advisory Partners bought a new position in shares of Iteris during the fourth quarter worth $1,220,000. Finally, Essex Investment Management Co. LLC boosted its position in shares of Iteris by 15.8% during the fourth quarter. Essex Investment Management Co. LLC now owns 165,424 shares of the technology company’s stock worth $1,153,000 after acquiring an additional 22,627 shares during the last quarter. Institutional investors and hedge funds own 33.21% of the company’s stock.

Shares of ITI traded down $0.13 during mid-day trading on Friday, hitting $5.26. 109,847 shares of the company traded hands, compared to its average volume of 273,141. Iteris has a 1 year low of $4.09 and a 1 year high of $8.17. The stock has a market capitalization of $180.25, a price-to-earnings ratio of -67.38 and a beta of -0.13.

Iteris (NASDAQ:ITI) last released its quarterly earnings data on Wednesday, February 7th. The technology company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. Iteris had a negative net margin of 4.32% and a negative return on equity of 10.05%. The firm had revenue of $26.03 million during the quarter, compared to analysts’ expectations of $23.28 million. equities analysts predict that Iteris will post -0.11 earnings per share for the current year.

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About Iteris

Iteris, Inc provides intelligent information solutions to traffic management and global agribusiness markets worldwide. It operates in three segments: Roadway Sensors, Transportation Systems, and Agriculture and Weather Analytics. The Roadway Sensors segment provides vehicle detection and information systems and products for traffic intersection control, incident detection, and roadway traffic data collection applications.

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