Iteris Inc (ITI) Expected to Post Quarterly Sales of $26.21 Million

Analysts expect that Iteris Inc (NASDAQ:ITI) will report sales of $26.21 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Iteris’ earnings. The highest sales estimate is $26.32 million and the lowest is $26.11 million. Iteris reported sales of $25.30 million during the same quarter last year, which indicates a positive year-over-year growth rate of 3.6%. The firm is scheduled to announce its next earnings report on Thursday, June 14th.

On average, analysts expect that Iteris will report full year sales of $26.21 million for the current fiscal year, with estimates ranging from $104.57 million to $104.77 million. For the next fiscal year, analysts anticipate that the business will post sales of $109.86 million per share, with estimates ranging from $109.24 million to $110.48 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Iteris.

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Iteris (NASDAQ:ITI) last posted its quarterly earnings data on Wednesday, February 7th. The technology company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. Iteris had a negative return on equity of 10.05% and a negative net margin of 4.32%. The firm had revenue of $26.03 million for the quarter, compared to the consensus estimate of $23.28 million.

Several brokerages recently issued reports on ITI. B. Riley set a $9.00 target price on Iteris and gave the company a “buy” rating in a research note on Thursday, February 8th. Zacks Investment Research downgraded Iteris from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Finally, JMP Securities began coverage on Iteris in a research note on Thursday, January 25th. They set an “outperform” rating and a $10.50 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $8.75.

Shares of Iteris (NASDAQ:ITI) opened at $5.54 on Friday. The stock has a market capitalization of $187.19, a P/E ratio of -42.58 and a beta of -0.22. Iteris has a 12 month low of $4.88 and a 12 month high of $8.17.

In related news, major shareholder Neil S. Subin sold 113,523 shares of Iteris stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $6.07, for a total transaction of $689,084.61. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Neil S. Subin sold 99,141 shares of Iteris stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $7.54, for a total value of $747,523.14. The disclosure for this sale can be found here. Insiders have sold a total of 231,414 shares of company stock worth $1,550,045 in the last three months. 4.30% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Cowen Prime Services LLC grew its holdings in Iteris by 180.7% during the 3rd quarter. Cowen Prime Services LLC now owns 563,395 shares of the technology company’s stock valued at $3,747,000 after buying an additional 362,650 shares in the last quarter. State Street Corp purchased a new position in Iteris during the 2nd quarter valued at approximately $1,606,000. Northern Trust Corp grew its holdings in Iteris by 256.5% during the 2nd quarter. Northern Trust Corp now owns 306,623 shares of the technology company’s stock valued at $1,907,000 after buying an additional 220,625 shares in the last quarter. B. Riley Financial Inc. purchased a new position in Iteris during the 3rd quarter valued at approximately $1,371,000. Finally, Vanguard Group Inc. grew its holdings in Iteris by 28.0% during the 2nd quarter. Vanguard Group Inc. now owns 813,850 shares of the technology company’s stock valued at $5,062,000 after buying an additional 177,980 shares in the last quarter. 33.21% of the stock is currently owned by institutional investors.

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About Iteris

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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