Analysts expect Iteris Inc (NASDAQ:ITI) to post sales of $23.95 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Iteris’ earnings. The lowest sales estimate is $23.47 million and the highest is $24.42 million. Iteris reported sales of $25.27 million during the same quarter last year, which would suggest a negative year over year growth rate of 5.2%. The firm is scheduled to announce its next quarterly earnings results on Thursday, June 6th.
On average, analysts expect that Iteris will report full year sales of $96.98 million for the current year, with estimates ranging from $96.50 million to $97.46 million. For the next financial year, analysts forecast that the firm will report sales of $110.33 million, with estimates ranging from $106.92 million to $113.74 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Iteris.
ITI has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Iteris from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a research report on Friday, January 25th. Dougherty & Co reaffirmed a “buy” rating on shares of Iteris in a report on Tuesday, April 30th. Finally, ValuEngine raised shares of Iteris from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Iteris has a consensus rating of “Buy” and a consensus target price of $6.75.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN grew its holdings in shares of Iteris by 6.5% in the first quarter. Wells Fargo & Company MN now owns 49,327 shares of the technology company’s stock valued at $206,000 after purchasing an additional 3,007 shares during the period. Stone Ridge Asset Management LLC grew its holdings in shares of Iteris by 72.2% in the fourth quarter. Stone Ridge Asset Management LLC now owns 20,497 shares of the technology company’s stock valued at $76,000 after purchasing an additional 8,597 shares during the period. Rhumbline Advisers grew its holdings in shares of Iteris by 52.6% in the fourth quarter. Rhumbline Advisers now owns 32,671 shares of the technology company’s stock valued at $122,000 after purchasing an additional 11,258 shares during the period. Geode Capital Management LLC grew its holdings in shares of Iteris by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 267,638 shares of the technology company’s stock valued at $998,000 after purchasing an additional 12,233 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Iteris in the first quarter valued at about $53,000. 37.25% of the stock is owned by hedge funds and other institutional investors.
Shares of ITI traded down $0.04 during trading hours on Friday, hitting $5.22. The stock had a trading volume of 128,123 shares, compared to its average volume of 113,681. Iteris has a fifty-two week low of $3.24 and a fifty-two week high of $5.70. The stock has a market cap of $173.10 million, a P/E ratio of -130.50 and a beta of 0.61.
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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