Iteris Inc (NASDAQ:ITI) Director Acquires $48,800.00 in Stock

Iteris Inc (NASDAQ:ITI) Director Tom Thomas bought 10,000 shares of Iteris stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average cost of $4.88 per share, with a total value of $48,800.00. Following the completion of the acquisition, the director now directly owns 40,403 shares in the company, valued at approximately $197,166.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of ITI opened at $4.85 on Friday. The company has a quick ratio of 2.11, a current ratio of 2.23 and a debt-to-equity ratio of 0.19. Iteris Inc has a 1 year low of $2.08 and a 1 year high of $6.69. The company has a 50 day simple moving average of $4.57 and a two-hundred day simple moving average of $4.49.

Iteris (NASDAQ:ITI) last announced its quarterly earnings data on Tuesday, June 9th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. Iteris had a negative net margin of 4.92% and a negative return on equity of 9.03%. The business had revenue of $30.90 million during the quarter, compared to analyst estimates of $31.29 million.

Several equities research analysts recently issued reports on ITI shares. JMP Securities reissued an “outperform” rating and issued a $9.00 target price on shares of Iteris in a report on Thursday, June 18th. ValuEngine raised shares of Iteris from a “hold” rating to a “buy” rating in a report on Friday, May 15th. Zacks Investment Research lowered shares of Iteris from a “buy” rating to a “hold” rating in a report on Wednesday, June 24th. Northland Securities started coverage on shares of Iteris in a report on Wednesday, June 10th. They issued a “buy” rating and a $9.00 target price for the company. Finally, TheStreet raised shares of Iteris from a “d” rating to a “c-” rating in a report on Thursday, June 11th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $7.55.

Several hedge funds and other institutional investors have recently bought and sold shares of ITI. Rhumbline Advisers boosted its position in shares of Iteris by 7.1% during the 4th quarter. Rhumbline Advisers now owns 41,552 shares of the technology company’s stock valued at $207,000 after acquiring an additional 2,756 shares during the last quarter. State Street Corp boosted its position in shares of Iteris by 34.5% during the 4th quarter. State Street Corp now owns 655,654 shares of the technology company’s stock valued at $3,272,000 after acquiring an additional 168,061 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Iteris by 15.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 105,891 shares of the technology company’s stock valued at $529,000 after acquiring an additional 14,370 shares during the last quarter. Barclays PLC boosted its position in shares of Iteris by 99.1% during the 4th quarter. Barclays PLC now owns 40,144 shares of the technology company’s stock valued at $200,000 after acquiring an additional 19,978 shares during the last quarter. Finally, Citigroup Inc. boosted its position in shares of Iteris by 107.7% during the 4th quarter. Citigroup Inc. now owns 8,046 shares of the technology company’s stock valued at $40,000 after acquiring an additional 4,172 shares during the last quarter. Hedge funds and other institutional investors own 46.94% 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.

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