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

StockNews.com began coverage on shares of Iteris (NASDAQ:ITI) in a research report sent to investors on Saturday. The firm issued a buy rating on the technology company’s stock.

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

Iteris Price Performance

NASDAQ ITI opened at $7.12 on Friday. The stock has a market capitalization of $305.98 million, a PE ratio of 101.71 and a beta of 0.86. Iteris has a 1-year low of $3.97 and a 1-year high of $7.15. The business has a 50 day simple moving average of $6.14 and a two-hundred day simple moving average of $5.12.

Iteris (NASDAQ:ITI) last posted its earnings results on Thursday, August 8th. The technology company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The business had revenue of $45.78 million during the quarter, compared to analysts’ expectations of $44.02 million. Iteris had a net margin of 0.80% and a return on equity of 2.02%. On average, analysts anticipate that Iteris will post 0.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Iteris news, major shareholder Samjo Management, Llc sold 1,200,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $7.00, for a total transaction of $8,400,000.00. Following the completion of the transaction, the insider now owns 5,013,300 shares in the company, valued at $35,093,100. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Iteris

A number of large investors have recently made changes to their positions in ITI. Public Employees Retirement System of Ohio bought a new stake in Iteris during the 1st quarter valued at about $43,000. Bfsg LLC boosted its holdings in shares of Iteris by 31.4% in the second 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 period. EntryPoint Capital LLC bought a new position in Iteris in the first quarter worth approximately $66,000. Cubist Systematic Strategies LLC purchased a new position in Iteris during the 2nd quarter worth $91,000. Finally, Perritt Capital Management Inc. raised its position in Iteris by 150.0% during the 1st quarter. Perritt Capital Management Inc. now owns 25,000 shares of the technology company’s stock valued at $124,000 after purchasing an additional 15,000 shares in the last quarter. 51.16% of the stock is owned by hedge funds and other 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.