Iteris (NASDAQ:ITI) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Iteris (NASDAQ:ITI) in a report released on Saturday. The brokerage set a “buy” rating on the technology company’s stock.

A number of other brokerages also recently commented on ITI. Maxim Group restated a “hold” rating on shares of Iteris in a research note on Monday, August 12th. Northland Capmk downgraded Iteris from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, B. Riley restated a “neutral” rating and issued a $7.20 target price (down previously from $8.00) on shares of Iteris in a research note on Wednesday, August 21st.

Iteris Stock Performance

Shares of NASDAQ:ITI opened at $7.12 on Friday. The firm has a 50 day simple moving average of $6.14 and a 200 day simple moving average of $5.12. Iteris has a 52 week low of $3.97 and a 52 week high of $7.15. The company has a market cap of $305.98 million, a PE ratio of 101.71 and a beta of 0.86.

Iteris (NASDAQ:ITI) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Iteris had a net margin of 0.80% and a return on equity of 2.02%. The business had revenue of $45.78 million for the quarter, compared to analysts’ expectations of $44.02 million. On average, equities analysts predict that Iteris will post 0.18 earnings per share for the current year.

Insider Buying and Selling

In other Iteris news, major shareholder Samjo Management, Llc sold 848,300 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $6.99, for a total value of $5,929,617.00. Following the completion of the transaction, the insider now owns 4,165,000 shares of the company’s stock, valued at approximately $29,113,350. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 7.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Iteris

Several large investors have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. acquired a new position in Iteris during the first quarter worth $1,270,000. Natixis acquired a new stake in shares of Iteris during the 1st quarter worth about $642,000. Private Management Group Inc. lifted its holdings in Iteris by 13.3% during the 2nd quarter. Private Management Group Inc. now owns 1,626,954 shares of the technology company’s stock valued at $7,045,000 after purchasing an additional 191,511 shares during the last quarter. Vanguard Group Inc. boosted its position in Iteris by 1.7% in the first quarter. Vanguard Group Inc. now owns 2,454,413 shares of the technology company’s stock valued at $12,125,000 after buying an additional 41,618 shares in the last quarter. Finally, Acuitas Investments LLC grew its stake in Iteris by 155.2% during the second quarter. Acuitas Investments LLC now owns 270,534 shares of the technology company’s stock worth $1,171,000 after buying an additional 164,539 shares during the last quarter. Institutional investors and hedge funds own 51.16% of the company’s stock.

Iteris Company Profile

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.