Zacks Investment Research Upgrades Iteris Inc (ITI) to Hold

Iteris Inc (NYSE:ITI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday. The firm presently has a $7.00 target price on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 17.25% from the company’s current price.

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. “

Several other brokerages also recently issued reports on ITI. Dougherty & Co began coverage on shares of Iteris in a report on Tuesday, July 18th. They issued a “buy” rating and a $8.00 price target on the stock. B. Riley reaffirmed a “buy” rating and issued a $9.00 price target on shares of Iteris in a report on Friday, August 4th. Finally, Northland Securities set a $8.00 price target on shares of Iteris and gave the company a “buy” rating in a report on Tuesday, July 4th.

Shares of Iteris (NYSE ITI) opened at 5.97 on Wednesday. Iteris has a 12-month low of $3.19 and a 12-month high of $6.91. The firm’s market cap is $194.06 million. The firm has a 50-day moving average of $6.33 and a 200-day moving average of $5.60.

Iteris (NYSE:ITI) last released its quarterly earnings data on Monday, August 7th. The company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). The firm had revenue of $27.18 million for the quarter, compared to the consensus estimate of $26.31 million. Iteris had a negative net margin of 13.64% and a negative return on equity of 33.30%. On average, equities analysts forecast that Iteris will post ($0.07) earnings per share for the current fiscal year.

In other news, major shareholder Lloyd I. Miller III sold 28,226 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $6.50, for a total value of $183,469.00. Following the completion of the transaction, the insider now owns 42,743 shares of the company’s stock, valued at $277,829.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Global Investors Fundamental sold 385,218 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $5.49, for a total transaction of $2,114,846.82. The disclosure for this sale can be found here. In the last three months, insiders sold 733,944 shares of company stock valued at $4,061,066.

Several institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers purchased a new position in Iteris during the second quarter worth $136,000. Spark Investment Management LLC raised its position in Iteris by 191.3% in the second quarter. Spark Investment Management LLC now owns 30,000 shares of the company’s stock worth $186,000 after buying an additional 19,700 shares in the last quarter. Trexquant Investment LP purchased a new position in Iteris during the second quarter worth $205,000. CAPROCK Group Inc. purchased a new position in Iteris during the second quarter worth $227,000. Finally, Schwab Charles Investment Management Inc. purchased a new position in Iteris during the second quarter worth $257,000.

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.