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

Analysts at StockNews.com started coverage on shares of Iteris (NASDAQ:ITI) in a report released on Wednesday. The firm set a “buy” rating on the technology company’s stock.

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

Iteris Stock Performance

Shares of ITI stock opened at $7.19 on Wednesday. The firm has a market capitalization of $308.99 million, a price-to-earnings ratio of 102.71 and a beta of 0.86. Iteris has a one year low of $3.97 and a one year high of $7.19. The company has a 50 day moving average price of $7.12 and a 200 day moving average price of $5.48.

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). Iteris had a return on equity of 2.02% and a net margin of 0.80%. The firm had revenue of $45.78 million for the quarter, compared to analyst estimates of $44.02 million. As a group, equities analysts forecast that Iteris will post 0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Samjo Management, Llc sold 1,200,000 shares of the 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 transaction, the insider now owns 5,013,300 shares in the company, valued at $35,093,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 7.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Iteris

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Whittier Trust Co. boosted its position in shares of Iteris by 4.7% during the 3rd quarter. Whittier Trust Co. now owns 42,552 shares of the technology company’s stock valued at $304,000 after purchasing an additional 1,897 shares in the last quarter. Bfsg LLC boosted its stake in shares of Iteris by 31.4% during the 2nd quarter. Bfsg LLC now owns 12,720 shares of the technology company’s stock worth $55,000 after acquiring an additional 3,038 shares in the last quarter. Bouvel Investment Partners LLC grew its holdings 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 worth $1,491,000 after acquiring an additional 6,850 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Iteris during the first quarter worth $43,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Iteris by 8.2% during the second 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. 51.16% of the stock is owned by institutional investors.

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.