Iteris (NASDAQ:ITI) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Iteris (NASDAQ:ITI) in a report published on Sunday morning. The brokerage issued a buy rating on the technology company’s stock.

Other equities analysts have also recently issued research reports about the stock. B. Riley reissued a neutral rating and issued a $7.20 price target (down previously from $8.00) on shares of Iteris in a research note on Wednesday, August 21st. Northland Capmk cut Iteris from a strong-buy rating to a hold rating in a research note on Friday, August 9th. Finally, Maxim Group reaffirmed a hold rating on shares of Iteris in a research note on Monday, August 12th.

Iteris Price Performance

NASDAQ:ITI opened at $7.16 on Friday. Iteris has a 1 year low of $3.97 and a 1 year high of $7.18. The stock’s fifty day moving average price is $6.52 and its two-hundred day moving average price is $5.25. The company has a market cap of $307.70 million, a P/E ratio of 102.29 and a beta of 0.86.

Iteris (NASDAQ:ITI) last released its quarterly earnings data 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 firm had revenue of $45.78 million during the quarter, compared to the consensus estimate of $44.02 million. Iteris had a net margin of 0.80% and a return on equity of 2.02%. On average, analysts expect that Iteris will post 0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Samjo Management, Llc sold 848,300 shares of the company’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 directly owns 4,165,000 shares of the company’s stock, valued at $29,113,350. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ITI. Public Employees Retirement System of Ohio bought a new stake in Iteris during the 1st quarter valued at about $43,000. Bfsg LLC increased 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 valued at $55,000 after acquiring an additional 3,038 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of Iteris during the first quarter valued at approximately $66,000. Cubist Systematic Strategies LLC purchased a new position in Iteris in the 2nd quarter worth approximately $91,000. Finally, Perritt Capital Management Inc. lifted its position in Iteris by 150.0% in the 1st quarter. Perritt Capital Management Inc. now owns 25,000 shares of the technology company’s stock valued at $124,000 after acquiring an additional 15,000 shares in the last quarter. 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.