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

StockNews.com initiated coverage on shares of Iteris (NASDAQ:ITI) in a research note issued to investors on Monday morning. The brokerage issued a buy rating on the technology company’s stock.

Several other analysts have also recently weighed in on ITI. B. Riley restated a neutral rating and set a $7.20 price objective (down previously from $8.00) on shares of Iteris in a research report on Wednesday, August 21st. Maxim Group reiterated a hold rating on shares of Iteris in a research report on Monday, August 12th. Finally, Northland Capmk cut shares of Iteris from a strong-buy rating to a hold rating in a research report on Friday, August 9th.

Iteris Price Performance

Iteris stock opened at $7.17 on Monday. Iteris has a twelve month low of $3.97 and a twelve month high of $7.19. The firm has a 50 day moving average price of $6.75 and a 200-day moving average price of $5.33. The company has a market capitalization of $308.13 million, a P/E ratio of 102.43 and a beta of 0.86.

Iteris (NASDAQ:ITI) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). Iteris had a return on equity of 2.02% and a net margin of 0.80%. The business had revenue of $45.78 million during the quarter, compared to the consensus estimate of $44.02 million. Equities analysts expect that Iteris will post 0.18 EPS for the current fiscal year.

Insider Activity

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 shares were sold at an average price of $6.99, for a total transaction of $5,929,617.00. Following the completion of the sale, the insider now directly owns 4,165,000 shares of the company’s stock, valued at approximately $29,113,350. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Iteris

A number of hedge funds have recently modified their holdings of ITI. SG Americas Securities LLC purchased a new position in Iteris during the third quarter valued at $125,000. Cubist Systematic Strategies LLC bought a new stake in shares of Iteris in the 2nd quarter worth about $91,000. First Eagle Investment Management LLC lifted its holdings in shares of Iteris by 3.7% in the 2nd quarter. First Eagle Investment Management LLC now owns 515,381 shares of the technology company’s stock worth $2,232,000 after acquiring an additional 18,289 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Iteris by 24.2% during the 2nd quarter. Renaissance Technologies LLC now owns 375,885 shares of the technology company’s stock valued at $1,628,000 after buying an additional 73,300 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Iteris by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,103,776 shares of the technology company’s stock valued at $4,779,000 after buying an additional 43,493 shares in the last quarter. 51.16% of the stock is currently owned by institutional investors.

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.