Equities analysts predict that Iteris Inc (NASDAQ:ITI) will announce sales of $28.58 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Iteris’ earnings, with estimates ranging from $28.45 million to $28.70 million. Iteris reported sales of $27.88 million in the same quarter last year, which indicates a positive year over year growth rate of 2.5%. The business is expected to report its next earnings results on Tuesday, November 3rd.
According to Zacks, analysts expect that Iteris will report full year sales of $115.56 million for the current fiscal year, with estimates ranging from $115.13 million to $115.99 million. For the next fiscal year, analysts expect that the firm will report sales of $127.50 million, with estimates ranging from $126.77 million to $128.23 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Iteris.
Iteris (NASDAQ:ITI) last issued its earnings results on Tuesday, August 4th. The technology company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.29. Iteris had a negative return on equity of 5.52% and a net margin of 5.46%.
Several equities research analysts have recently commented on the stock. ValuEngine upgraded shares of Iteris from a “hold” rating to a “buy” rating in a research report on Friday, May 15th. Northland Securities initiated coverage on shares of Iteris in a research report on Wednesday, June 10th. They set a “buy” rating and a $9.00 target price for the company. Zacks Investment Research raised Iteris from a “sell” rating to a “buy” rating and set a $5.75 target price for the company in a research note on Tuesday, August 11th. JMP Securities reaffirmed an “outperform” rating and set a $9.00 price target on shares of Iteris in a research report on Thursday, June 18th. Finally, B. Riley reiterated a “buy” rating and issued a $8.50 price objective on shares of Iteris in a research report on Wednesday, June 10th. Six research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average price target of $8.06.
In other news, Director Tom Thomas acquired 10,000 shares of Iteris stock in a transaction on Monday, June 22nd. The shares were purchased at an average cost of $4.88 per share, for a total transaction of $48,800.00. Following the completion of the purchase, the director now directly owns 40,403 shares of the company’s stock, valued at approximately $197,166.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.64% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Citigroup Inc. raised its holdings in shares of Iteris by 44.3% during the first quarter. Citigroup Inc. now owns 11,609 shares of the technology company’s stock valued at $37,000 after purchasing an additional 3,563 shares during the period. BNP Paribas Arbitrage SA grew its holdings in shares of Iteris by 125.3% during the first quarter. BNP Paribas Arbitrage SA now owns 12,406 shares of the technology company’s stock valued at $40,000 after buying an additional 6,899 shares during the last quarter. Bank of America Corp DE increased its holdings in Iteris by 53.5% during the 2nd quarter. Bank of America Corp DE now owns 14,057 shares of the technology company’s stock worth $67,000 after purchasing an additional 4,901 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Iteris in the first quarter worth approximately $46,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Iteris by 26.4% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 14,333 shares of the technology company’s stock worth $46,000 after purchasing an additional 2,993 shares during the last quarter. Institutional investors and hedge funds own 48.02% of the company’s stock.
Shares of Iteris stock traded down $0.13 during trading hours on Thursday, reaching $4.43. The stock had a trading volume of 127,600 shares, compared to its average volume of 147,634. The firm has a 50 day simple moving average of $4.80 and a two-hundred day simple moving average of $4.35. The company has a current ratio of 2.53, a quick ratio of 2.44 and a debt-to-equity ratio of 0.15. Iteris has a 1 year low of $2.08 and a 1 year high of $6.69. The firm has a market capitalization of $181.30 million, a price-to-earnings ratio of 27.69, a P/E/G ratio of 8.86 and a beta of 1.00.
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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