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

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

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

Iteris Stock Performance

Shares of ITI stock remained flat at $7.19 during trading hours on Friday. 4,543 shares of the stock traded hands, compared to its average volume of 329,061. The firm has a market cap of $307.88 million, a PE ratio of 239.75 and a beta of 0.87. The stock has a 50-day moving average price of $7.15 and a two-hundred day moving average price of $5.70. Iteris has a 1 year low of $4.00 and a 1 year high of $7.20.

Iteris (NASDAQ:ITI) last announced 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 the consensus estimate of $44.02 million. On average, equities research analysts forecast that Iteris will post 0.16 earnings per share for the current year.

Insider Activity

In other Iteris news, major shareholder Samjo Management, Llc sold 848,300 shares of Iteris stock in a transaction on 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 sale, the insider now directly owns 4,165,000 shares in the company, valued at approximately $29,113,350. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Iteris

Several institutional investors have recently bought and sold shares of the business. Access Investment Management LLC lifted its stake in shares of Iteris by 67.7% in the 3rd quarter. Access Investment Management LLC now owns 4,570 shares of the technology company’s stock valued at $33,000 after purchasing an additional 1,845 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Iteris in the first quarter worth $43,000. Bfsg LLC boosted its stake in Iteris by 31.4% during the second quarter. Bfsg LLC now owns 12,720 shares of the technology company’s stock worth $55,000 after buying an additional 3,038 shares during the period. EntryPoint Capital LLC bought a new position in Iteris during the first quarter valued at $66,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Iteris in the third quarter valued at $78,000. Institutional investors 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.