StockNews.com Initiates Coverage on Iteris (NASDAQ:ITI)

StockNews.com started coverage on shares of Iteris (NASDAQ:ITI) in a research note released on Tuesday. The firm issued a buy rating on the technology company’s stock.

A number of other brokerages also recently issued reports on ITI. Maxim Group reiterated a hold rating on shares of Iteris in a research note on Monday, August 12th. Northland Capmk cut shares of Iteris from a strong-buy rating to a hold rating in a report 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 report on Wednesday, August 21st.

Iteris Price Performance

Shares of Iteris stock opened at $7.19 on Tuesday. Iteris has a 52-week low of $3.97 and a 52-week high of $7.19. The company has a 50 day moving average of $6.98 and a 200 day moving average of $5.40. The company has a market capitalization of $308.99 million, a P/E ratio of 102.71 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Iteris had a return on equity of 2.02% and a net margin of 0.80%. The firm had revenue of $45.78 million during the quarter, compared to analysts’ expectations of $44.02 million. As a group, research analysts anticipate that Iteris will post 0.16 earnings per share for the current fiscal year.

Insider Transactions at Iteris

In other news, major shareholder Samjo Management, Llc sold 848,300 shares of Iteris stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $6.99, for a total transaction of $5,929,617.00. Following the sale, the insider now owns 4,165,000 shares in the company, valued at approximately $29,113,350. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Iteris

Several institutional investors have recently added to or reduced their stakes in ITI. Bouvel Investment Partners LLC increased its position in Iteris by 2.3% in the 1st quarter. Bouvel Investment Partners LLC now owns 301,740 shares of the technology company’s stock valued at $1,491,000 after acquiring an additional 6,850 shares during the period. First Eagle Investment Management LLC increased its position in Iteris by 4.0% in the 1st quarter. First Eagle Investment Management LLC now owns 497,092 shares of the technology company’s stock valued at $2,456,000 after acquiring an additional 19,023 shares during the period. Vanguard Group Inc. increased its position in Iteris by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 2,454,413 shares of the technology company’s stock valued at $12,125,000 after acquiring an additional 41,618 shares during the period. Natixis acquired a new position in Iteris in the 1st quarter valued at about $642,000. Finally, EntryPoint Capital LLC acquired a new position in Iteris in the 1st quarter valued at about $66,000. 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.