Northland Securities Believes Iteris (NASDAQ: ITI) Still Has Room to Grow

By Austin Angelo

Northland Securities analyst Michael Latimore maintained a Buy rating on Iteris (ITIResearch Report) today and set a price target of $10.00. The company’s shares closed last Tuesday at $7.20, close to its 52-week high of $7.81.

According to TipRanks.com, Latimore is a 5-star analyst with an average return of 29.2% and a 57.2% success rate. Latimore covers the Technology sector, focusing on stocks such as Comtech Telecommunications, Synchronoss Technologies, and Ribbon Communications.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Iteris with a $10.50 average price target, implying a 41.1% upside from current levels. In a report issued on May 25, Colliers Securities also maintained a Buy rating on the stock with a $11.00 price target.

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Iteris’ market cap is currently $299.8M and has a P/E ratio of 28.30. The company has a Price to Book ratio of 9.04.

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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. The Roadway Sensors segment offers various vehicle detection and information systems and products for traffic intersection control, incident detection, and roadway traffic data collection applications. The Transportation Systems segment includes transportation engineering and consulting services. The Agriculture and Weather Analytics segment consists of ClearAg solutions and ClearPath Weather management tools, which deliver road maintenance applications and digital agriculture platforms, respectively. The company was founded by Joel Slutzky in 1969 and is headquartered in Santa Ana, CA.