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

Analysts at StockNews.com initiated coverage on shares of Iteris (NASDAQ:ITI) in a research note issued to investors on Thursday. The firm set a “buy” rating on the technology company’s stock.

Several other research firms have also recently weighed in 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 note 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 reiterated a “hold” rating on shares of Iteris in a research note on Monday, August 12th.

Iteris Stock Performance

Shares of ITI stock opened at $7.20 on Thursday. The stock has a market cap of $308.30 million, a P/E ratio of 240.08 and a beta of 0.86. The stock has a 50 day simple moving average of $7.13 and a 200 day simple moving average of $5.58. Iteris has a 1 year low of $4.00 and a 1 year high of $7.20.

Iteris (NASDAQ:ITI) last issued its quarterly 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). Iteris had a net margin of 0.80% and a return on equity of 2.02%. The company had revenue of $45.78 million during the quarter, compared to the consensus estimate of $44.02 million. Analysts forecast that Iteris will post 0.16 EPS for the current year.

Insiders Place Their Bets

In other Iteris news, major shareholder Samjo Management, Llc sold 848,300 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 4,165,000 shares in the company, valued at approximately $29,113,350. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 7.40% of the company’s stock.

Institutional Trading of Iteris

Several large investors have recently made changes to their positions in the company. Whittier Trust Co. grew its stake in shares of Iteris by 4.7% in the 3rd quarter. Whittier Trust Co. now owns 42,552 shares of the technology company’s stock valued at $304,000 after buying an additional 1,897 shares during the period. Bfsg LLC lifted its position in Iteris by 31.4% in the 2nd quarter. Bfsg LLC now owns 12,720 shares of the technology company’s stock valued at $55,000 after acquiring an additional 3,038 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Iteris in the 1st quarter valued at about $43,000. Bank of New York Mellon Corp lifted its position in Iteris by 8.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 134,539 shares of the technology company’s stock valued at $583,000 after acquiring an additional 10,208 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its position in Iteris by 6.5% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 184,464 shares of the technology company’s stock valued at $799,000 after acquiring an additional 11,247 shares in the last quarter. 51.16% of the stock is currently owned by institutional investors and hedge funds.

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.