Iteris (NASDAQ:ITI) Now Covered by StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Iteris (NASDAQ:ITI) in a research note issued to investors on Friday. The firm set a “buy” rating on the technology company’s stock.

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

Iteris Price Performance

ITI opened at $7.19 on Friday. The company has a fifty day moving average price of $7.15 and a 200-day moving average price of $5.68. The firm has a market capitalization of $307.88 million, a P/E ratio of 239.75 and a beta of 0.87. Iteris has a one year low of $4.00 and a one year high of $7.20.

Iteris (NASDAQ:ITI) last posted its quarterly earnings data 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 company had revenue of $45.78 million for the quarter, compared to the consensus estimate of $44.02 million. On average, analysts expect that Iteris will post 0.16 earnings per share for the current year.

Insider Buying and Selling at Iteris

In other Iteris news, major shareholder Samjo Management, Llc sold 848,300 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $6.99, for a total value of $5,929,617.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Iteris

A number of hedge funds have recently modified their holdings of the company. Access Investment Management LLC increased its position in shares of Iteris by 67.7% during the third quarter. Access Investment Management LLC now owns 4,570 shares of the technology company’s stock valued at $33,000 after buying an additional 1,845 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Iteris during the first quarter valued at about $43,000. Bfsg LLC increased its position in shares of Iteris by 31.4% during the second quarter. Bfsg LLC now owns 12,720 shares of the technology company’s stock valued at $55,000 after buying an additional 3,038 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Iteris during the first quarter valued at about $66,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Iteris during the second quarter valued at about $91,000. Hedge funds and other institutional investors 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.