B. Riley Equities Analysts Increase Earnings Estimates for Iteris Inc (ITI)

Iteris Inc (NASDAQ:ITI) – Equities researchers at B. Riley raised their FY2020 earnings per share (EPS) estimates for Iteris in a report released on Wednesday, November 7th. B. Riley analyst J. Van. Sinderen now forecasts that the technology company will post earnings of $0.09 per share for the year, up from their prior forecast of $0.08. B. Riley currently has a “Buy” rating and a $8.00 target price on the stock.

ITI has been the subject of a number of other research reports. Zacks Investment Research cut Iteris from a “buy” rating to a “hold” rating in a research report on Thursday, October 25th. ValuEngine upgraded Iteris from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Finally, Dougherty & Co restated a “buy” rating on shares of Iteris in a research report on Tuesday, September 4th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Iteris presently has a consensus rating of “Buy” and an average price target of $8.06.

Iteris stock traded down $0.01 during midday trading on Friday, reaching $4.65. The company’s stock had a trading volume of 634 shares, compared to its average volume of 89,076. Iteris has a fifty-two week low of $3.62 and a fifty-two week high of $7.88. The company has a market cap of $152.73 million, a P/E ratio of -116.00 and a beta of 0.21.

Iteris (NASDAQ:ITI) last released its earnings results on Tuesday, November 6th. The technology company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. Iteris had a negative return on equity of 8.64% and a negative net margin of 4.93%. The company had revenue of $24.42 million during the quarter, compared to the consensus estimate of $25.29 million.

In related news, major shareholder Neil S. Subin sold 91,885 shares of Iteris stock in a transaction dated Friday, October 26th. The stock was sold at an average price of $4.06, for a total transaction of $373,053.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Neil S. Subin sold 23,323 shares of Iteris stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $4.41, for a total value of $102,854.43. The disclosure for this sale can be found here. In the last 90 days, insiders sold 215,682 shares of company stock valued at $913,198. Company insiders own 6.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Northern Trust Corp grew its holdings in Iteris by 13.0% in the 1st 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 period. Royce & Associates LP grew its holdings in Iteris by 58.4% in the 2nd 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 period. Cowen Prime Services LLC grew its holdings in Iteris by 3.2% in the 2nd 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 period. BlackRock Inc. grew its holdings in Iteris by 12.0% in the 2nd quarter. BlackRock Inc. now owns 1,950,422 shares of the technology company’s stock valued at $9,440,000 after buying an additional 208,926 shares during the period. Finally, Private Management Group Inc. purchased a new stake in Iteris in the 2nd quarter valued at about $517,000. Hedge funds and other institutional investors own 33.56% of the company’s stock.

About Iteris

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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Earnings History and Estimates for Iteris (NASDAQ:ITI)

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