Iteris (ITI) Gets a Buy Rating from Northland Securities

By Ryan Adsit

Northland Securities analyst Michael Latimore maintained a Buy rating on Iteris (ITIResearch Report) today and set a price target of $9. The company’s shares closed yesterday at $5.06.

According to TipRanks.com, Latimore is a 5-star analyst with an average return of 11.7% and a 53.8% success rate. Latimore covers the Technology sector, focusing on stocks such as Super League Gaming Inc, The Meet Group Inc, and Brightcove Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Iteris with a $9 average price target, representing a 77.9% upside. In a report issued on August 2, B.Riley FBR also reiterated a Buy rating on the stock with a $8 price target.

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Based on Iteris’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $2.43 million. In comparison, last year the company had a GAAP net loss of $1.58 million.

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Iteris, Inc. engages in the provision of information solutions for both the traffic management and global agribusiness markets. It operates through the following segments: Roadway Sensors; Transportation Systems; and Agriculture and Weather Analytics.