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

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

A number of other research firms have also recently issued reports on ITI. B. Riley reissued a “neutral” rating and set a $7.20 price objective (down previously from $8.00) on shares of Iteris in a research report on Wednesday, August 21st. Maxim Group reaffirmed a “hold” rating on shares of Iteris in a research report on Monday, August 12th. Finally, Northland Capmk downgraded Iteris from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th.

Iteris Price Performance

Shares of NASDAQ:ITI opened at $7.19 on Friday. Iteris has a 12-month low of $4.00 and a 12-month high of $7.20. The company has a market cap of $307.88 million, a P/E ratio of 239.75 and a beta of 0.87. The company’s fifty day moving average is $7.17 and its two-hundred day moving average is $5.92.

Hedge Funds Weigh In On Iteris

Hedge funds have recently added to or reduced their stakes in the stock. Glazer Capital LLC bought a new stake in shares of Iteris in the 3rd quarter valued at about $20,313,000. Vanguard Group Inc. increased its stake in Iteris by 1.7% in the first quarter. Vanguard Group Inc. now owns 2,454,413 shares of the technology company’s stock valued at $12,125,000 after purchasing an additional 41,618 shares in the last quarter. Private Management Group Inc. raised its holdings in Iteris by 13.3% in the second quarter. Private Management Group Inc. now owns 1,626,954 shares of the technology company’s stock worth $7,045,000 after purchasing an additional 191,511 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Iteris by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,103,776 shares of the technology company’s stock worth $4,779,000 after purchasing an additional 43,493 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Iteris by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 964,370 shares of the technology company’s stock valued at $6,887,000 after buying an additional 12,964 shares during the period. Institutional investors and hedge funds own 51.16% of the company’s stock.

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.