Iteris (NASDAQ:ITI) PT Raised to $8.50

Iteris (NASDAQ:ITIGet Free Report) had its target price boosted by stock analysts at B. Riley from $6.00 to $8.50 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. B. Riley’s price target points to a potential upside of 59.77% from the stock’s current price. B. Riley also issued estimates for Iteris’ Q4 2024 earnings at $0.02 EPS and FY2024 earnings at $0.09 EPS.

Separately, StockNews.com downgraded shares of Iteris from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 23rd.

Read Our Latest Stock Report on ITI

Iteris Stock Performance

Iteris stock opened at $5.32 on Friday. Iteris has a 52 week low of $3.72 and a 52 week high of $5.49. The firm has a market capitalization of $227.80 million, a PE ratio of 88.67 and a beta of 0.68. The business’s 50-day simple moving average is $4.84 and its 200-day simple moving average is $4.50.

Iteris (NASDAQ:ITIGet Free Report) last issued its quarterly earnings results on Thursday, November 9th. The technology company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Iteris had a return on equity of 3.80% and a net margin of 1.45%. The business had revenue of $43.56 million for the quarter, compared to analyst estimates of $41.13 million. Research analysts forecast that Iteris will post 0.14 earnings per share for the current year.

Insider Activity

In other Iteris news, major shareholder Samjo Management, Llc sold 72,000 shares of Iteris stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $5.36, for a total transaction of $385,920.00. Following the sale, the insider now owns 6,320,800 shares in the company, valued at $33,879,488. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 7.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ITI. Barclays PLC bought a new stake in shares of Iteris in the 2nd quarter worth about $34,000. Cubist Systematic Strategies LLC bought a new stake in Iteris during the first quarter worth about $34,000. Walleye Capital LLC acquired a new stake in shares of Iteris during the first quarter worth approximately $39,000. Allspring Global Investments Holdings LLC bought a new position in shares of Iteris in the third quarter valued at approximately $46,000. Finally, Bank of Montreal Can acquired a new position in shares of Iteris in the 2nd quarter worth approximately $47,000. 64.84% of the stock is currently owned by institutional investors and hedge funds.

About Iteris

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Iteris, Inc provides intelligent transportation systems technology solutions in North America, Europe, South America, and Asia. The company offers smart mobility infrastructure solutions include traveler information systems, transportation performance measurement software, traffic analytics software, transportation operations software, transportation-related data sets, advanced sensing devices, managed services, traffic engineering services, and mobility consulting services.

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