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

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

A number of other research analysts have also commented on ITI. B. Riley reiterated 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. Northland Capmk lowered shares of Iteris from a strong-buy rating to a hold rating in a research report on Friday, August 9th. Finally, Maxim Group reiterated a hold rating on shares of Iteris in a research note on Monday, August 12th.

Iteris Stock Up 0.4 %

Shares of Iteris stock opened at $7.15 on Friday. Iteris has a 12-month low of $3.97 and a 12-month high of $7.15. The stock has a market capitalization of $307.27 million, a P/E ratio of 102.14 and a beta of 0.86. The stock has a 50 day moving average price of $6.19 and a two-hundred day moving average price of $5.14.

Iteris (NASDAQ:ITI) last announced its earnings results on Thursday, August 8th. The technology company reported $0.01 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $44.02 million. Sell-side analysts anticipate that Iteris will post 0.18 earnings per share for the current year.

Insider Buying and Selling at Iteris

In other Iteris news, major shareholder Samjo Management, Llc sold 848,300 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $6.99, for a total transaction of $5,929,617.00. Following the completion of the transaction, the insider now owns 4,165,000 shares in the company, valued at $29,113,350. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Iteris

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bfsg LLC grew its holdings 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 during the last quarter. Panagora Asset Management Inc. increased its position in Iteris by 17.5% in the 4th quarter. Panagora Asset Management Inc. now owns 32,962 shares of the technology company’s stock valued at $171,000 after acquiring an additional 4,904 shares in the last quarter. Bouvel Investment Partners LLC lifted 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 purchasing an additional 6,850 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Iteris during the first quarter valued at approximately $43,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Iteris by 8.2% in the second quarter. Bank of New York Mellon Corp now owns 134,539 shares of the technology company’s stock valued at $583,000 after purchasing an additional 10,208 shares in the last quarter. 51.16% of the stock is currently owned by institutional investors and hedge funds.

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.