Iteris (NASDAQ:ITI) Coverage Initiated at StockNews.com

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

A number of other brokerages have also recently issued reports on ITI. B. Riley reiterated a “neutral” rating and set a $7.20 target price (down previously from $8.00) on shares of Iteris in a research report on Wednesday, August 21st. Northland Capmk cut shares of Iteris from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Maxim Group reiterated a “hold” rating on shares of Iteris in a research report on Monday, August 12th.

Iteris Stock Performance

NASDAQ:ITI opened at $7.19 on Wednesday. The company has a 50-day moving average of $7.12 and a 200-day moving average of $5.50. The company has a market capitalization of $307.88 million, a price-to-earnings ratio of 239.75 and a beta of 0.86. Iteris has a 52 week low of $3.99 and a 52 week high of $7.20.

Iteris (NASDAQ:ITI) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The business had revenue of $45.78 million for the quarter, compared to the consensus estimate of $44.02 million. Iteris had a return on equity of 2.02% and a net margin of 0.80%. Sell-side analysts forecast that Iteris will post 0.16 EPS for the current year.

Insider Buying and Selling at Iteris

In other Iteris news, major shareholder Samjo Management, Llc sold 1,200,000 shares of the firm’s 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 sale, the insider now owns 5,013,300 shares in the company, valued at approximately $35,093,100. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Iteris

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. increased its position in Iteris by 4.7% in the 3rd quarter. Whittier Trust Co. now owns 42,552 shares of the technology company’s stock valued at $304,000 after acquiring an additional 1,897 shares in the last quarter. Bfsg LLC boosted its stake in shares of Iteris by 31.4% in the 2nd quarter. Bfsg LLC now owns 12,720 shares of the technology company’s stock valued at $55,000 after purchasing an additional 3,038 shares during the last quarter. Bouvel Investment Partners LLC boosted its stake in shares of 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 purchasing an additional 6,850 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Iteris in the 1st quarter valued at about $43,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Iteris by 8.2% in 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 purchasing an additional 10,208 shares during the last quarter. Institutional investors and hedge funds 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.