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

StockNews.com initiated coverage on shares of Iteris (NASDAQ:ITI) in a research report report published on Thursday. The firm issued a buy rating on the technology company’s stock.

ITI has been the subject of several other reports. Northland Capmk lowered Iteris from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. B. Riley restated a “neutral” rating and set a $7.20 price objective (down previously from $8.00) on shares of Iteris in a report on Wednesday, August 21st. Finally, Maxim Group reiterated a “hold” rating on shares of Iteris in a research note on Monday, August 12th.

Iteris Stock Performance

Shares of ITI stock opened at $7.19 on Thursday. The company has a market capitalization of $307.88 million, a price-to-earnings ratio of 239.75 and a beta of 0.87. Iteris has a 52-week low of $4.00 and a 52-week high of $7.20. The company has a 50-day simple moving average of $7.14 and a two-hundred day simple moving average of $5.62.

Iteris (NASDAQ:ITI) last announced its 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). The business had revenue of $45.78 million during the quarter, compared to analysts’ expectations of $44.02 million. Iteris had a return on equity of 2.02% and a net margin of 0.80%. On average, sell-side analysts forecast that Iteris will post 0.16 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Samjo Management, Llc sold 1,200,000 shares of Iteris 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 owns 5,013,300 shares in the company, valued at $35,093,100. This trade represents 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 available at the SEC website. Insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Iteris

Hedge funds and other institutional investors have recently modified their holdings of the stock. Whittier Trust Co. increased its holdings in shares of Iteris by 4.7% in the third quarter. Whittier Trust Co. now owns 42,552 shares of the technology company’s stock worth $304,000 after purchasing an additional 1,897 shares during the period. Bfsg LLC increased its stake in Iteris by 31.4% in the 2nd 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. Public Employees Retirement System of Ohio purchased a new stake in shares of Iteris in the 1st quarter valued at about $43,000. Bank of New York Mellon Corp boosted its position in shares of Iteris by 8.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 134,539 shares of the technology company’s stock valued at $583,000 after acquiring an additional 10,208 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC grew its holdings in shares of Iteris by 6.5% during the second quarter. Dynamic Advisor Solutions LLC now owns 184,464 shares of the technology company’s stock worth $799,000 after purchasing an additional 11,247 shares in the last quarter. 51.16% of the stock is currently owned by institutional investors.

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.