StockNews.com Initiates Coverage on Iteris (NASDAQ:ITI)

Equities researchers at StockNews.com assumed coverage on shares of Iteris (NASDAQ:ITI) in a research report issued to clients and investors on Tuesday. The brokerage set a “buy” rating on the technology company’s stock.

ITI has been the subject of several other reports. Maxim Group restated a “hold” rating on shares of Iteris in a research note on Monday, August 12th. Northland Capmk lowered Iteris from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $7.20 price objective (down from $8.00) on shares of Iteris in a research note on Wednesday, August 21st.

Iteris Stock Performance

ITI stock opened at $7.19 on Tuesday. The stock has a market capitalization of $308.99 million, a P/E 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 $6.92 and a two-hundred day moving average price of $5.38.

Iteris (NASDAQ:ITI) last announced its quarterly 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 company had revenue of $45.78 million during the quarter, compared to analyst estimates of $44.02 million. Iteris had a net margin of 0.80% and a return on equity of 2.02%. Research analysts forecast that Iteris will post 0.16 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Samjo Management, Llc sold 848,300 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $6.99, for a total transaction of $5,929,617.00. Following the transaction, the insider now directly owns 4,165,000 shares of the company’s stock, valued at approximately $29,113,350. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Iteris

A number of institutional investors have recently made changes to their positions in ITI. Vanguard Group Inc. increased its holdings in shares of Iteris by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 2,454,413 shares of the technology company’s stock valued at $12,125,000 after acquiring an additional 41,618 shares during the last quarter. Private Management Group Inc. grew its stake in Iteris by 13.3% during the 2nd quarter. Private Management Group Inc. now owns 1,626,954 shares of the technology company’s stock worth $7,045,000 after buying an additional 191,511 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Iteris by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,103,776 shares of the technology company’s stock worth $4,779,000 after buying an additional 43,493 shares during the last quarter. First Eagle Investment Management LLC grew its stake in Iteris by 3.7% during the 2nd quarter. First Eagle Investment Management LLC now owns 515,381 shares of the technology company’s stock worth $2,232,000 after buying an additional 18,289 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in Iteris by 24.2% during the 2nd quarter. Renaissance Technologies LLC now owns 375,885 shares of the technology company’s stock worth $1,628,000 after buying an additional 73,300 shares during the last quarter. 51.16% of the stock is owned by institutional investors and hedge funds.

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.