Equities research analysts predict that Iteris Inc (NASDAQ:ITI) will announce $23.28 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Iteris’ earnings. The lowest sales estimate is $23.05 million and the highest is $23.51 million. Iteris reported sales of $22.69 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.6%. The company is expected to announce its next quarterly earnings report on Thursday, February 8th.
According to Zacks, analysts expect that Iteris will report full year sales of $23.28 million for the current financial year, with estimates ranging from $101.67 million to $101.75 million. For the next financial year, analysts forecast that the business will post sales of $114.91 million per share, with estimates ranging from $111.78 million to $118.03 million. Zacks’ sales averages are an average based on a survey of research firms that cover Iteris.
Iteris (NASDAQ:ITI) last posted its quarterly earnings data on Tuesday, November 7th. The technology company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). Iteris had a negative net margin of 6.18% and a negative return on equity of 10.73%.
A number of research analysts have commented on ITI shares. Zacks Investment Research upgraded shares of Iteris from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th. B. Riley set a $9.00 target price on shares of Iteris and gave the company a “buy” rating in a report on Thursday. Finally, Northland Securities set a $9.00 target price on shares of Iteris and gave the company a “buy” rating in a report on Monday, November 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $8.31.
Iteris (NASDAQ ITI) traded down $0.06 during midday trading on Monday, reaching $7.47. 364,200 shares of the company’s stock were exchanged, compared to its average volume of 254,977. The firm has a market capitalization of $244.92, a price-to-earnings ratio of -37.35 and a beta of -0.46. Iteris has a one year low of $4.30 and a one year high of $8.17.
In other news, insider Thomas N. Blair sold 31,250 shares of Iteris stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $6.88, for a total value of $215,000.00. Following the sale, the insider now owns 12,500 shares of the company’s stock, valued at $86,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Todd Kreter sold 37,500 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $6.10, for a total transaction of $228,750.00. Following the sale, the insider now directly owns 40,803 shares in the company, valued at approximately $248,898.30. The disclosure for this sale can be found here. 4.30% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in ITI. Cowen Prime Services LLC boosted its holdings in Iteris by 180.7% during the third quarter. Cowen Prime Services LLC now owns 563,395 shares of the technology company’s stock worth $3,747,000 after buying an additional 362,650 shares in the last quarter. State Street Corp purchased a new stake in Iteris during the second quarter worth about $1,606,000. Northern Trust Corp boosted its holdings in Iteris by 256.5% during the second quarter. Northern Trust Corp now owns 306,623 shares of the technology company’s stock worth $1,907,000 after buying an additional 220,625 shares in the last quarter. B. Riley Financial Inc. purchased a new stake in Iteris during the third quarter worth about $1,371,000. Finally, Vanguard Group Inc. boosted its holdings in Iteris by 28.0% during the second quarter. Vanguard Group Inc. now owns 813,850 shares of the technology company’s stock worth $5,062,000 after buying an additional 177,980 shares in the last quarter. 33.34% of the stock is currently owned by hedge funds and other institutional investors.
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Iteris Company Profile
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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