Iteris (ITI) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

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Iteris (NASDAQ:ITI) released its quarterly earnings data on Tuesday. The technology company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.02, Morningstar.com reports. The business had revenue of $24.42 million for the quarter, compared to analyst estimates of $25.29 million. Iteris had a negative return on equity of 10.36% and a negative net margin of 4.54%.

ITI stock traded up $0.09 during midday trading on Wednesday, hitting $4.69. 195,711 shares of the company’s stock were exchanged, compared to its average volume of 169,598. Iteris has a 12-month low of $3.62 and a 12-month high of $7.88. The company has a market capitalization of $149.08 million, a PE ratio of -117.25 and a beta of 0.21.

Several research firms have recently weighed in on ITI. ValuEngine lowered Iteris from a “buy” rating to a “hold” rating in a research note on Saturday, September 1st. Zacks Investment Research upgraded Iteris from a “strong sell” rating to a “hold” rating in a report on Thursday, August 9th. Dougherty & Co reiterated a “buy” rating on shares of Iteris in a report on Tuesday, September 4th. Finally, B. Riley dropped their target price on Iteris from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $8.06.

In other Iteris news, major shareholder Neil S. Subin sold 23,323 shares of Iteris stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $4.41, for a total transaction of $102,854.43. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Neil S. Subin sold 91,885 shares of Iteris stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $4.06, for a total value of $373,053.10. The disclosure for this sale can be found here. Insiders have sold a total of 215,682 shares of company stock worth $913,198 over the last 90 days. 6.20% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of ITI. Northern Trust Corp increased its holdings in Iteris by 13.0% during the 1st quarter. Northern Trust Corp now owns 321,393 shares of the technology company’s stock worth $1,595,000 after purchasing an additional 37,080 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Iteris by 58.4% in the 2nd quarter. Royce & Associates LP now owns 1,104,000 shares of the technology company’s stock valued at $5,343,000 after acquiring an additional 407,000 shares during the last quarter. Cowen Prime Services LLC increased its holdings in shares of Iteris by 3.2% in the 2nd quarter. Cowen Prime Services LLC now owns 897,692 shares of the technology company’s stock valued at $4,345,000 after acquiring an additional 28,200 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Iteris by 12.0% in the 2nd quarter. BlackRock Inc. now owns 1,950,422 shares of the technology company’s stock valued at $9,440,000 after acquiring an additional 208,926 shares during the last quarter. Finally, Private Management Group Inc. bought a new stake in shares of Iteris in the 2nd quarter valued at approximately $517,000. Institutional investors own 33.56% of the company’s stock.

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About Iteris

Iteris, Inc provides intelligent transportation systems technology solutions worldwide. The company's Roadway Sensors segment provides vehicle detection sensors and systems for traffic intersection management, communication systems, and roadway traffic data collection applications. Its products include Vantage detection system to detect vehicle presence at intersections, as well as vehicle count, speed, and other traffic data; Vantage Vector video/radar hybrid product, an vehicle detection sensor; and VantageLive!, a cloud-based platform; and Vantage systems equipped with smartcycle capability to differentiate between bicycles and other vehicles with a single video detection camera.

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Earnings History for Iteris (NASDAQ:ITI)

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