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

Equities research analysts at StockNews.com assumed coverage on shares of Iteris (NASDAQ:ITI) in a research report issued to clients and investors on Monday. The brokerage set a “buy” rating on the technology company’s stock.

Several other analysts also recently commented on the stock. Northland Capmk downgraded shares of Iteris from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. B. Riley reissued a “neutral” rating and set a $7.20 price objective (down from $8.00) on shares of Iteris in a research report on Wednesday, August 21st. Finally, Maxim Group reaffirmed a “hold” rating on shares of Iteris in a report on Monday, August 12th.

Iteris Stock Performance

Shares of ITI stock opened at $7.17 on Monday. Iteris has a one year low of $3.97 and a one year high of $7.19. The company’s 50-day moving average is $6.66 and its 200 day moving average is $5.30. The company has a market capitalization of $308.13 million, a price-to-earnings ratio of 102.43 and a beta of 0.86.

Iteris (NASDAQ:ITI) last announced its quarterly earnings data 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 net margin of 0.80% and a return on equity of 2.02%. The firm had revenue of $45.78 million for the quarter, compared to analysts’ expectations of $44.02 million. As a group, research analysts predict that Iteris will post 0.18 earnings per share for the current fiscal year.

Insider Activity

In other 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 sale, the insider now owns 4,165,000 shares of the company’s stock, valued at $29,113,350. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Iteris

Institutional investors and hedge funds have recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. purchased a new position in shares of Iteris in the first quarter worth approximately $1,270,000. Natixis purchased a new position in shares of Iteris in the first quarter worth approximately $642,000. Private Management Group Inc. boosted its holdings 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 worth $7,045,000 after buying an additional 191,511 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Iteris by 1.7% in the first quarter. Vanguard Group Inc. now owns 2,454,413 shares of the technology company’s stock worth $12,125,000 after buying an additional 41,618 shares during the last quarter. Finally, Acuitas Investments LLC boosted its holdings in shares of Iteris by 155.2% in the second 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 during 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.