Iteris (NASDAQ:ITI) Receives New Coverage from Analysts at StockNews.com

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

Several other equities analysts have also recently commented on ITI. B. Riley restated a neutral rating and set a $7.20 target price (down 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 Up 0.3 %

Shares of ITI opened at $7.07 on Thursday. The business’s 50-day moving average price is $5.54 and its 200-day moving average price is $4.97. Iteris has a twelve month low of $3.97 and a twelve month high of $7.11. The stock has a market cap of $303.83 million, a PE ratio of 101.00 and a beta of 0.83.

Iteris (NASDAQ:ITI) last posted its earnings results on Thursday, August 8th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm 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%. Analysts expect that Iteris will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Iteris

In other news, major shareholder Samjo Management, Llc sold 848,300 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $6.99, for a total value of $5,929,617.00. Following the completion of the transaction, the insider now directly owns 4,165,000 shares in the company, valued at approximately $29,113,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 2,050,885 shares of company stock worth $14,340,733 over the last 90 days. Corporate insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Iteris

A number of hedge funds have recently made changes to their positions in ITI. Public Employees Retirement System of Ohio bought a new stake in shares of Iteris in the 1st quarter valued at about $43,000. 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 purchasing an additional 3,038 shares during the period. EntryPoint Capital LLC bought a new stake in Iteris in the first quarter valued at approximately $66,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Iteris during the second quarter valued at approximately $91,000. Finally, Perritt Capital Management Inc. grew its holdings in shares of Iteris by 150.0% in the first quarter. Perritt Capital Management Inc. now owns 25,000 shares of the technology company’s stock worth $124,000 after purchasing an additional 15,000 shares during 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.