Iteris (ITI) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of Iteris (NASDAQ:ITI) from a hold rating to a buy rating in a research report released on Tuesday, May 7th, ValuEngine reports.

ITI has been the subject of a number of other research reports. Dougherty & Co restated a buy rating on shares of Iteris in a research note on Tuesday, April 30th. Zacks Investment Research cut shares of Iteris from a buy rating to a hold rating in a research note on Tuesday, January 22nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $6.75.

Shares of ITI traded up $0.14 during midday trading on Tuesday, reaching $5.38. The stock had a trading volume of 93,081 shares, compared to its average volume of 110,139. Iteris has a one year low of $3.24 and a one year high of $5.64. The company has a market cap of $179.43 million, a PE ratio of -134.50 and a beta of 0.61.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Iteris by 1.2% during the 3rd quarter. BlackRock Inc. now owns 1,973,647 shares of the technology company’s stock worth $10,618,000 after acquiring an additional 23,225 shares during the last quarter. Royce & Associates LP lifted its position in shares of Iteris by 21.0% in the 4th quarter. Royce & Associates LP now owns 1,457,000 shares of the technology company’s stock worth $5,435,000 after purchasing an additional 253,000 shares during the period. Cowen Prime Services LLC lifted its position in shares of Iteris by 20.2% in the 1st quarter. Cowen Prime Services LLC now owns 1,396,242 shares of the technology company’s stock worth $5,822,000 after purchasing an additional 234,852 shares during the period. B. Riley Financial Inc. lifted its position in shares of Iteris by 1,006.0% in the 1st quarter. B. Riley Financial Inc. now owns 1,004,034 shares of the technology company’s stock worth $4,187,000 after purchasing an additional 913,250 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Iteris in the 1st quarter worth approximately $3,307,000. 40.21% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: Cost of Goods Sold (COGS)

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