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

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

A number of other equities research analysts have also weighed in on the company. B. Riley restated 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 note on Monday, August 12th. Finally, Northland Capmk lowered shares of Iteris from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th.

Iteris Price Performance

ITI stock opened at $7.14 on Friday. The company’s 50-day moving average price is $6.38 and its two-hundred day moving average price is $5.20. The firm has a market cap of $306.84 million, a P/E ratio of 102.00 and a beta of 0.86. Iteris has a 12 month low of $3.97 and a 12 month high of $7.16.

Iteris (NASDAQ:ITI) last issued its 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 net margin of 0.80% and a return on equity of 2.02%. The business had revenue of $45.78 million during the quarter, compared to analyst estimates of $44.02 million. Equities analysts predict that Iteris will post 0.18 EPS for the current year.

Insider Activity

In other Iteris news, major shareholder Samjo Management, Llc sold 1,200,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $7.00, for a total transaction of $8,400,000.00. Following the sale, the insider now owns 5,013,300 shares of the company’s stock, valued at $35,093,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Iteris

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. acquired a new position in shares of Iteris during the first quarter worth approximately $1,270,000. Private Management Group Inc. lifted its stake in shares of Iteris by 13.3% in the second quarter. Private Management Group Inc. now owns 1,626,954 shares of the technology company’s stock valued at $7,045,000 after buying an additional 191,511 shares in the last quarter. Acuitas Investments LLC grew its holdings in shares of Iteris by 155.2% during the second quarter. Acuitas Investments LLC now owns 270,534 shares of the technology company’s stock valued at $1,171,000 after buying an additional 164,539 shares during the last quarter. Natixis bought a new stake in shares of Iteris during the first quarter worth about $642,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Iteris by 24.2% in the 2nd quarter. Renaissance Technologies LLC now owns 375,885 shares of the technology company’s stock worth $1,628,000 after acquiring an additional 73,300 shares during the last quarter. 51.16% of the stock is owned by institutional investors.

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.