$26.21 Million in Sales Expected for Iteris, Inc. (ITI) This Quarter

Equities research analysts predict that Iteris, Inc. (NASDAQ:ITI) will report sales of $26.21 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Iteris’ earnings. The lowest sales estimate is $26.11 million and the highest is $26.32 million. Iteris posted sales of $25.30 million during the same quarter last year, which suggests a positive year over year growth rate of 3.6%. The business is scheduled to announce its next earnings results on Thursday, June 14th.

On average, analysts expect that Iteris will report full-year sales of $26.21 million for the current year, with estimates ranging from $104.57 million to $104.77 million. For the next year, analysts expect that the company will report sales of $109.86 million per share, with estimates ranging from $109.24 million to $110.48 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Iteris.

Iteris (NASDAQ:ITI) last issued its earnings results on Wednesday, February 7th. The technology company reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $23.28 million.



Several brokerages have commented on ITI. JMP Securities began coverage on shares of Iteris in a research note on Thursday, January 25th. They issued an “outperform” rating and a $10.50 target price for the company. B. Riley set a $9.00 target price on shares of Iteris and gave the company a “buy” rating in a research note on Thursday, February 8th. Finally, Zacks Investment Research downgraded shares of Iteris from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Iteris presently has an average rating of “Buy” and an average price target of $8.75.

In other news, major shareholder Neil S. Subin sold 113,523 shares of the stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas N. Blair sold 18,750 shares of the stock in a transaction 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. Insiders have sold 231,414 shares of company stock valued at $1,550,045 in the last three months. 4.30% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of ITI. TIAA FSB boosted its holdings in Iteris by 8.6% during the fourth quarter. TIAA FSB now owns 103,359 shares of the technology company’s stock worth $720,000 after purchasing an additional 8,146 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Iteris by 120.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 20,942 shares of the technology company’s stock worth $146,000 after purchasing an additional 11,438 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Iteris by 1,730.8% during the third quarter. Wells Fargo & Company MN now owns 18,308 shares of the technology company’s stock worth $122,000 after purchasing an additional 17,308 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Iteris during the third quarter worth $116,000. Finally, SG Americas Securities LLC acquired a new position in Iteris during the third quarter worth $120,000. 33.21% of the stock is owned by institutional investors.

NASDAQ:ITI traded up $0.06 during trading hours on Monday, hitting $4.80. The stock had a trading volume of 19,497 shares, compared to its average volume of 279,089. Iteris has a one year low of $4.09 and a one year high of $8.17.

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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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