Zacks Investment Research Lowers Iteris (ITI) to Hold

Zacks Investment Research downgraded shares of Iteris (NASDAQ:ITI) from a buy rating to a hold rating in a research note issued to investors on Thursday.

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. “

ITI has been the subject of a number of other reports. ValuEngine upgraded shares of Iteris from a hold rating to a buy rating in a report on Friday, June 29th. Dougherty & Co reiterated a buy rating on shares of Iteris in a report on Tuesday, September 4th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $8.31.



Iteris stock traded down $0.05 during trading hours on Thursday, reaching $4.05. The stock had a trading volume of 146,000 shares, compared to its average volume of 173,176. The company has a market capitalization of $137.46 million, a PE ratio of -101.25 and a beta of -0.07. Iteris has a 52 week low of $3.62 and a 52 week high of $7.88.

Iteris (NASDAQ:ITI) last announced its earnings results on Tuesday, August 7th. The technology company reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.03. The business had revenue of $25.48 million during the quarter, compared to the consensus estimate of $24.22 million. Iteris had a negative net margin of 4.54% and a negative return on equity of 10.36%. On average, equities research analysts predict that Iteris will post -0.08 EPS for the current year.

In other news, major shareholder Neil S. Subin sold 38,646 shares of the business’s stock in a transaction dated Friday, October 19th. The stock was sold at an average price of $4.30, for a total transaction of $166,177.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Neil S. Subin sold 52,830 shares of the business’s stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $4.42, for a total value of $233,508.60. The disclosure for this sale can be found here. Insiders have sold 123,797 shares of company stock worth $540,145 in the last 90 days. Insiders own 6.20% of the company’s stock.

Several hedge funds have recently modified their holdings of ITI. Northern Trust Corp lifted its stake in Iteris by 13.0% in the 1st quarter. Northern Trust Corp now owns 321,393 shares of the technology company’s stock valued at $1,595,000 after purchasing an additional 37,080 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Iteris by 42.1% in the 1st quarter. New York State Common Retirement Fund now owns 35,659 shares of the technology company’s stock valued at $177,000 after purchasing an additional 10,559 shares during the last quarter. Royce & Associates LP lifted its stake in 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 purchasing an additional 407,000 shares during the last quarter. Cowen Prime Services LLC lifted its stake in 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 purchasing an additional 28,200 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in 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 purchasing an additional 208,926 shares during the last quarter. Institutional investors and hedge funds own 33.52% of the company’s stock.

Iteris Company Profile

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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