Iteris Inc (NYSE:ITI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
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 topic of a number of other research reports. Northland Securities set a $8.00 target price on Iteris and gave the company a “buy” rating in a report on Friday, August 4th. Dougherty & Co initiated coverage on Iteris in a report on Tuesday, July 18th. They issued a “buy” rating and a $8.00 target price on the stock. Finally, B. Riley reiterated a “buy” rating and issued a $9.00 target price on shares of Iteris in a report on Monday, August 14th.
Iteris (NYSE:ITI) last posted its quarterly earnings data on Monday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.02). Iteris had a negative return on equity of 5.53% and a negative net margin of 2.05%. The business had revenue of $27.18 million for the quarter, compared to analysts’ expectations of $26.31 million.
In other Iteris news, VP Thomas N. Blair sold 17,096 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $6.00, for a total value of $102,576.00. Following the transaction, the vice president now directly owns 25,000 shares of the company’s stock, valued at $150,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas N. Blair sold 43,750 shares of the firm’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $5.99, for a total value of $262,062.50. Following the completion of the transaction, the insider now directly owns 25,000 shares in the company, valued at $149,750. The disclosure for this sale can be found here. Insiders sold 481,051 shares of company stock worth $2,990,259 over the last three months.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Iteris by 28.0% in the second quarter. Vanguard Group Inc. now owns 813,850 shares of the company’s stock valued at $5,062,000 after purchasing an additional 177,980 shares during the period. Royce & Associates LP raised its position in Iteris by 39.9% in the second quarter. Royce & Associates LP now owns 526,000 shares of the company’s stock valued at $3,272,000 after purchasing an additional 150,000 shares during the period. Northern Trust Corp raised its position in Iteris by 256.5% in the second quarter. Northern Trust Corp now owns 306,623 shares of the company’s stock valued at $1,907,000 after purchasing an additional 220,625 shares during the period. State Street Corp purchased a new position in Iteris in the second quarter valued at about $1,606,000. Finally, King Luther Capital Management Corp raised its position in Iteris by 27.0% in the second quarter. King Luther Capital Management Corp now owns 206,900 shares of the company’s stock valued at $1,287,000 after purchasing an additional 44,033 shares during the period.
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.
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