Zacks Investment Research lowered shares of Iteris (NASDAQ:ITI) from a hold rating to a sell rating in a report published on Tuesday morning.
According to Zacks, “Iteris, Inc. is a leading provider of outdoor vision systems and sensors that optimize the flow of traffic and enhance driver safety. Iteris combines outdoor image processing, traffic engineering, and information technology to offer a broad range of transportation and safety solutions. “
A number of other equities analysts have also recently weighed in on ITI. Northland Securities set a $9.00 price objective on Iteris and gave the company a buy rating in a report on Monday, November 13th. B. Riley reissued a buy rating and set a $9.00 price objective on shares of Iteris in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $8.31.
In other Iteris news, insider Todd Kreter sold 37,500 shares of Iteris stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $6.10, for a total value of $228,750.00. Following the transaction, the insider now directly owns 40,803 shares of the company’s stock, valued at approximately $248,898.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas N. Blair sold 31,250 shares of Iteris stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $6.88, for a total value of $215,000.00. Following the completion of the transaction, the insider now directly owns 12,500 shares in the company, valued at $86,000. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP purchased a new position in Iteris in the 3rd quarter worth approximately $116,000. SG Americas Securities LLC purchased a new position in Iteris in the 3rd quarter worth approximately $120,000. Wells Fargo & Company MN increased its stake in Iteris by 1,730.8% in the 3rd quarter. Wells Fargo & Company MN now owns 18,308 shares of the technology company’s stock worth $122,000 after purchasing an additional 17,308 shares during the period. Rhumbline Advisers purchased a new position in Iteris in the 2nd quarter worth approximately $136,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Iteris in the 2nd quarter worth approximately $137,000. 33.35% of the stock is currently owned by institutional investors and hedge funds.
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Iteris Company Profile
Iteris, Inc is a provider of information solutions for both the traffic management and global agribusiness markets. The Company operates through three segments: Roadway Sensors, Transportation Systems and Performance Analytics. The Roadway Sensors segment provides various vehicle detection and information systems and products for traffic intersection control, incident detection and roadway traffic data collection applications.
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