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

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

Other analysts have also recently issued research reports about the stock. B. Riley reaffirmed a “neutral” rating and set a $7.20 price objective (down previously from $8.00) on shares of Iteris in a research note on Wednesday, August 21st. Northland Capmk downgraded shares of Iteris from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Maxim Group reiterated a “hold” rating on shares of Iteris in a research note on Monday, August 12th.

Iteris Stock Performance

Shares of ITI opened at $7.19 on Wednesday. The company has a market capitalization of $308.99 million, a P/E ratio of 102.71 and a beta of 0.86. The business’s 50-day moving average is $7.12 and its two-hundred day moving average is $5.48. Iteris has a fifty-two week low of $3.97 and a fifty-two week high of $7.19.

Iteris (NASDAQ:ITI) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The business 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%. Analysts forecast that Iteris will post 0.16 EPS for the current year.

Insider Activity at Iteris

In other news, major shareholder Samjo Management, Llc sold 848,300 shares of Iteris stock in a transaction dated 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 owns 4,165,000 shares of the company’s stock, valued at $29,113,350. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ITI. Whittier Trust Co. increased its holdings in 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 acquiring an additional 1,897 shares in the last quarter. SG Americas Securities LLC purchased a new position in Iteris in the 3rd quarter valued at about $125,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Iteris during the 2nd quarter worth about $91,000. First Eagle Investment Management LLC grew its holdings in shares of Iteris by 3.7% during the second 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 in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Iteris by 24.2% in the second quarter. Renaissance Technologies LLC now owns 375,885 shares of the technology company’s stock valued at $1,628,000 after buying an additional 73,300 shares during the last quarter. 51.16% of the stock is owned by hedge funds and other 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.