Iteris (NASDAQ:ITI) issued its quarterly earnings results on Tuesday. The technology company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02, Morningstar.com reports. The company had revenue of $24.42 million during the quarter, compared to analyst estimates of $25.29 million. Iteris had a negative net margin of 4.93% and a negative return on equity of 8.64%.
Shares of Iteris stock traded down $0.13 during trading hours on Thursday, reaching $4.56. 300 shares of the company’s stock were exchanged, compared to its average volume of 89,076. Iteris has a 1 year low of $3.62 and a 1 year high of $7.88. The firm has a market capitalization of $152.73 million, a price-to-earnings ratio of -113.50 and a beta of 0.21.
Several brokerages recently commented on ITI. Dougherty & Co reissued a “buy” rating on shares of Iteris in a report on Tuesday, September 4th. Zacks Investment Research lowered shares of Iteris from a “buy” rating to a “hold” rating in a report on Thursday, October 25th. ValuEngine lowered shares of Iteris from a “buy” rating to a “hold” rating in a report on Saturday, September 1st. Finally, B. Riley dropped their target price on shares of Iteris from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $8.06.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Private Management Group Inc. purchased a new stake in shares of Iteris in the second quarter valued at about $517,000. Northern Trust Corp lifted its position in Iteris by 13.0% in the first quarter. Northern Trust Corp now owns 321,393 shares of the technology company’s stock valued at $1,595,000 after buying an additional 37,080 shares during the last quarter. Ardsley Advisory Partners lifted its position in Iteris by 120.1% in the second quarter. Ardsley Advisory Partners now owns 460,000 shares of the technology company’s stock valued at $2,226,000 after buying an additional 251,000 shares during the last quarter. Cowen Prime Services LLC lifted its position in Iteris by 3.2% in the second quarter. Cowen Prime Services LLC now owns 897,692 shares of the technology company’s stock valued at $4,345,000 after buying an additional 28,200 shares during the last quarter. Finally, Royce & Associates LP lifted its position in Iteris by 58.4% in the second quarter. Royce & Associates LP now owns 1,104,000 shares of the technology company’s stock valued at $5,343,000 after buying an additional 407,000 shares during the last quarter. 33.56% of the stock is owned by hedge funds and other institutional investors.
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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