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

Stock analysts at StockNews.com began coverage on shares of Iteris (NASDAQ:ITI) in a research report issued on Saturday. The brokerage set a “buy” rating on the technology company’s stock.

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

Iteris Price Performance

ITI opened at $7.12 on Friday. Iteris has a fifty-two week low of $3.97 and a fifty-two week high of $7.15. The business has a 50-day moving average of $6.14 and a 200-day moving average of $5.12. The company has a market capitalization of $305.98 million, a PE ratio of 101.71 and a beta of 0.86.

Iteris (NASDAQ:ITI) last posted 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). 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 analysts’ expectations of $44.02 million. On average, equities research analysts expect that Iteris will post 0.18 earnings per share for the current fiscal year.

Insider Activity at Iteris

In related news, major shareholder Samjo Management, Llc sold 848,300 shares of the business’s stock in a transaction on Monday, August 12th. The stock was 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 approximately $29,113,350. The sale was disclosed in a legal filing with the SEC, which is available through this link. 7.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Iteris

Several institutional investors have recently bought and sold shares of the business. Bfsg LLC raised its position in shares of Iteris by 31.4% during the second quarter. Bfsg LLC now owns 12,720 shares of the technology company’s stock worth $55,000 after acquiring an additional 3,038 shares during the last quarter. Panagora Asset Management Inc. raised its position in shares of Iteris by 17.5% during the fourth quarter. Panagora Asset Management Inc. now owns 32,962 shares of the technology company’s stock worth $171,000 after acquiring an additional 4,904 shares during the last quarter. Bouvel Investment Partners LLC raised its position in shares of Iteris by 2.3% during the first 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 bought a new stake in shares of Iteris during the first quarter worth $43,000. Finally, Bank of New York Mellon Corp raised its position 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 worth $583,000 after acquiring an additional 10,208 shares during the last quarter. Institutional investors own 51.16% of the company’s stock.

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.