Zacks Investment Research Lowers Iteris (NASDAQ:ITI) to Sell

Zacks Investment Research lowered shares of Iteris (NASDAQ:ITI) from a hold rating to a sell rating in a research note issued to investors on Saturday, Zacks.com reports.

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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. “

A number of other analysts have also recently issued reports on ITI. Dougherty & Co started coverage on shares of Iteris in a research note on Tuesday, August 27th. They set a buy rating and a $6.50 target price for the company. Northland Securities set a $9.00 target price on shares of Iteris and gave the stock a buy rating in a research note on Wednesday, October 9th. BidaskClub upgraded shares of Iteris from a hold rating to a buy rating in a research note on Tuesday, September 17th. TheStreet upgraded shares of Iteris from a d+ rating to a c- rating in a research note on Wednesday, August 28th. Finally, ValuEngine upgraded shares of Iteris from a hold rating to a buy rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Iteris presently has a consensus rating of Buy and a consensus target price of $7.17.

Iteris stock traded down $0.08 during mid-day trading on Friday, reaching $4.77. The company’s stock had a trading volume of 156,100 shares, compared to its average volume of 168,189. The business’s 50 day simple moving average is $5.34 and its 200 day simple moving average is $5.23. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.46 and a current ratio of 2.55. The company has a market capitalization of $225.12 million, a price-to-earnings ratio of -43.36 and a beta of 0.28. Iteris has a 12 month low of $3.24 and a 12 month high of $6.69.

Iteris (NASDAQ:ITI) last posted its earnings results on Tuesday, November 5th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The company had revenue of $27.88 million for the quarter, compared to analyst estimates of $27.95 million. Iteris had a negative return on equity of 15.19% and a negative net margin of 8.34%. As a group, sell-side analysts expect that Iteris will post -0.09 EPS for the current year.

A number of institutional investors have recently modified their holdings of ITI. Mesirow Financial Investment Management Inc. acquired a new stake in Iteris in the 2nd quarter worth about $455,000. Strs Ohio raised its stake in Iteris by 5.2% in the 2nd quarter. Strs Ohio now owns 106,300 shares of the technology company’s stock worth $549,000 after purchasing an additional 5,300 shares in the last quarter. Cowen Prime Services LLC raised its stake in Iteris by 15.9% in the 2nd quarter. Cowen Prime Services LLC now owns 1,618,028 shares of the technology company’s stock worth $8,365,000 after purchasing an additional 221,786 shares in the last quarter. Brasada Capital Management LP acquired a new stake in Iteris in the 2nd quarter worth about $231,000. Finally, Emancipation Management LLC acquired a new stake in Iteris in the 2nd quarter worth about $310,000. Institutional investors and hedge funds own 45.10% 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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