Iteris (NASDAQ:ITI) Earns Buy Rating from Analysts at StockNews.com

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

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

Iteris Price Performance

Shares of NASDAQ:ITI opened at $7.18 on Tuesday. The stock has a market cap of $308.56 million, a PE ratio of 102.57 and a beta of 0.86. The company’s fifty day moving average is $7.11 and its 200 day moving average is $5.44. Iteris has a 52 week low of $3.97 and a 52 week high of $7.19.

Iteris (NASDAQ:ITI) last issued its earnings results on Thursday, August 8th. The technology company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The business had revenue of $45.78 million during the quarter, compared to analysts’ expectations of $44.02 million. Iteris had a return on equity of 2.02% and a net margin of 0.80%. Sell-side analysts anticipate that Iteris will post 0.16 EPS for the current year.

Insider Activity at Iteris

In related news, major shareholder Samjo Management, Llc sold 1,200,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $7.00, for a total transaction of $8,400,000.00. Following the completion of the sale, the insider now owns 5,013,300 shares in the company, valued at approximately $35,093,100. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.40% of the stock is owned by company insiders.

Institutional Trading of Iteris

A number of hedge funds and other institutional investors have recently bought and sold shares of ITI. Public Employees Retirement System of Ohio purchased a new stake in shares of Iteris during the first quarter worth about $43,000. Bfsg LLC grew 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 purchasing an additional 3,038 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Iteris during the first quarter worth about $66,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Iteris during the second quarter worth about $91,000. Finally, Perritt Capital Management Inc. grew its position in shares of Iteris by 150.0% during the first quarter. Perritt Capital Management Inc. now owns 25,000 shares of the technology company’s stock worth $124,000 after purchasing an additional 15,000 shares in the last quarter. Hedge funds and other institutional investors 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.