Iteris Inc (ITI) Expected to Post Quarterly Sales of $24.73 Million

Wall Street analysts expect Iteris Inc (NASDAQ:ITI) to report $24.73 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Iteris’ earnings. Iteris reported sales of $26.03 million during the same quarter last year, which indicates a negative year over year growth rate of 5%. The company is expected to issue its next earnings report on Wednesday, February 6th.

On average, analysts expect that Iteris will report full-year sales of $100.60 million for the current year, with estimates ranging from $100.28 million to $100.91 million. For the next fiscal year, analysts expect that the business will post sales of $116.58 million, with estimates ranging from $114.02 million to $119.13 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Iteris.

Iteris (NASDAQ:ITI) last released its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. The company had revenue of $24.42 million during the quarter, compared to the consensus estimate of $25.29 million. Iteris had a negative net margin of 4.93% and a negative return on equity of 8.76%.

Several analysts have issued reports on the stock. Northland Securities set a $8.00 target price on shares of Iteris and gave the stock a “buy” rating in a research note on Thursday, December 20th. TheStreet cut shares of Iteris from a “c-” rating to a “d+” rating in a research note on Tuesday, December 4th. Zacks Investment Research cut shares of Iteris from a “buy” rating to a “hold” rating in a research note on Thursday, October 25th. ValuEngine upgraded shares of Iteris from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Finally, B. Riley lowered their target price on shares of Iteris from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, November 5th. Six equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average price target of $7.75.

NASDAQ ITI opened at $3.97 on Friday. Iteris has a 1 year low of $3.24 and a 1 year high of $7.66.

In other news, major shareholder Neil S. Subin sold 8,616 shares of the firm’s stock in a transaction on Monday, October 22nd. The shares were sold at an average price of $4.18, for a total transaction of $36,014.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Neil S. Subin sold 91,885 shares of the firm’s stock in a transaction on Friday, October 26th. The shares were sold at an average price of $4.06, for a total transaction of $373,053.10. The disclosure for this sale can be found here. Insiders sold a total of 100,883 shares of company stock worth $410,657 over the last quarter. Corporate insiders own 6.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Ancora Advisors LLC raised its position in shares of Iteris by 16.3% during the 3rd quarter. Ancora Advisors LLC now owns 177,041 shares of the technology company’s stock valued at $953,000 after buying an additional 24,867 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Iteris by 25.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 204,016 shares of the technology company’s stock worth $1,098,000 after purchasing an additional 41,395 shares during the period. Cowen Prime Services LLC raised its position in Iteris by 1.7% in the 3rd quarter. Cowen Prime Services LLC now owns 913,192 shares of the technology company’s stock worth $4,913,000 after purchasing an additional 15,500 shares during the period. Royce & Associates LP raised its position in Iteris by 9.1% in the 3rd quarter. Royce & Associates LP now owns 1,204,000 shares of the technology company’s stock worth $6,478,000 after purchasing an additional 100,000 shares during the period. Finally, BlackRock Inc. raised its position in Iteris by 12.0% in the 2nd quarter. BlackRock Inc. now owns 1,950,422 shares of the technology company’s stock worth $9,440,000 after purchasing an additional 208,926 shares during the period. Hedge funds and other institutional investors own 33.53% 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.

See Also: What is a front-end load?

Get a free copy of the Zacks research report on Iteris (ITI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Iteris (NASDAQ:ITI)

Receive News & Ratings for Iteris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iteris and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply