Iteris (NASDAQ:ITI) Receives New Coverage from Analysts at StockNews.com

Analysts at StockNews.com assumed coverage on shares of Iteris (NASDAQ:ITI) in a report issued on Sunday. The firm set a “buy” rating on the technology company’s stock.

Several other analysts have also recently commented on ITI. 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. Northland Capmk lowered Iteris from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, Maxim Group reissued a “hold” rating on shares of Iteris in a research note on Monday, August 12th.

Iteris Stock Performance

Shares of NASDAQ:ITI opened at $7.14 on Friday. Iteris has a one year low of $3.97 and a one year high of $7.16. The stock has a market capitalization of $306.84 million, a price-to-earnings ratio of 102.00 and a beta of 0.86. The company has a 50-day simple moving average of $6.38 and a 200-day simple moving average of $5.20.

Iteris (NASDAQ:ITI) last released its earnings results on Thursday, August 8th. The technology company reported $0.01 earnings per share (EPS) 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 company had revenue of $45.78 million during the quarter, compared to analyst estimates of $44.02 million. As a group, research analysts forecast that Iteris will post 0.18 EPS for the current fiscal year.

Insider Activity

In other Iteris news, major shareholder Samjo Management, Llc sold 1,200,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $7.00, for a total value of $8,400,000.00. Following the completion of the transaction, the insider now directly owns 5,013,300 shares of the company’s stock, valued at $35,093,100. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ITI. Public Employees Retirement System of Ohio purchased a new position in shares of Iteris during the 1st quarter worth approximately $43,000. Bfsg LLC raised its holdings in shares of Iteris by 31.4% in the second quarter. Bfsg LLC now owns 12,720 shares of the technology company’s stock worth $55,000 after acquiring an additional 3,038 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Iteris in the first quarter worth $66,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Iteris in the second quarter valued at $91,000. Finally, Perritt Capital Management Inc. boosted its stake in shares of Iteris by 150.0% during the first quarter. Perritt Capital Management Inc. now owns 25,000 shares of the technology company’s stock valued at $124,000 after acquiring an additional 15,000 shares during the last quarter. Institutional investors and hedge funds own 51.16% of the company’s stock.

About Iteris

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.