Iteris (NASDAQ:ITI) Now Covered by Analysts at StockNews.com

by · The Cerbat Gem

StockNews.com assumed coverage on shares of Iteris (NASDAQ:ITI – Free Report) in a research note released on Saturday. The firm issued a buy rating on the technology company’s stock.

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

View Our Latest Stock Report on ITI

Iteris Price Performance

NASDAQ:ITI opened at $7.15 on Friday. The stock’s 50 day moving average price is $6.24 and its 200 day moving average price is $5.15. The company has a market capitalization of $307.27 million, a PE ratio of 102.14 and a beta of 0.86. Iteris has a 52-week low of $3.97 and a 52-week high of $7.15.

Iteris (NASDAQ:ITI – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The firm had revenue of $45.78 million for 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%. As a group, sell-side analysts anticipate that Iteris will post 0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Iteris news, major shareholder Samjo Management, Llc sold 1,200,000 shares of the business’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 directly owns 5,013,300 shares in the company, valued at approximately $35,093,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Iteris

Several institutional investors and hedge funds have recently made changes to their positions in ITI. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Iteris in the 1st quarter worth about $1,270,000. Private Management Group Inc. boosted its position in shares of Iteris by 13.3% in the 2nd quarter. Private Management Group Inc. now owns 1,626,954 shares of the technology company’s stock worth $7,045,000 after buying an additional 191,511 shares in the last quarter. Acuitas Investments LLC boosted its position in shares of Iteris by 155.2% in the 2nd quarter. Acuitas Investments LLC now owns 270,534 shares of the technology company’s stock worth $1,171,000 after buying an additional 164,539 shares in the last quarter. Natixis purchased a new position in Iteris in the 1st quarter valued at about $642,000. Finally, Renaissance Technologies LLC lifted its holdings in Iteris by 24.2% in the 2nd quarter. Renaissance Technologies LLC now owns 375,885 shares of the technology company’s stock valued at $1,628,000 after purchasing an additional 73,300 shares in the last quarter. 51.16% of the stock is currently owned by hedge funds and other institutional investors.

Iteris Company Profile

(Get Free Report)

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.

Read More