Iteris (NASDAQ:ITI) Upgraded at StockNews.com

StockNews.com upgraded shares of Iteris (NASDAQ:ITIFree Report) from a buy rating to a strong-buy rating in a research note published on Friday morning.

Separately, B. Riley raised their target price on Iteris from $6.00 to $8.50 and gave the company a buy rating in a report on Friday.

Check Out Our Latest Research Report on ITI

Iteris Trading Down 0.4 %

Shares of NASDAQ:ITI opened at $5.32 on Friday. The business has a 50-day moving average price of $4.84 and a 200 day moving average price of $4.50. The company has a market capitalization of $227.82 million, a price-to-earnings ratio of 88.67 and a beta of 0.68. Iteris has a 12-month low of $3.72 and a 12-month high of $5.49.

Iteris (NASDAQ:ITIGet Free Report) last announced its earnings results on Thursday, November 9th. The technology company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Iteris had a net margin of 1.45% and a return on equity of 3.80%. The firm had revenue of $43.56 million for the quarter, compared to analysts’ expectations of $41.13 million. As a group, equities research analysts predict that Iteris will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Samjo Management, Llc sold 72,000 shares of Iteris stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $5.36, for a total value of $385,920.00. Following the completion of the transaction, the insider now owns 6,320,800 shares in the company, valued at approximately $33,879,488. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Iteris

Several hedge funds and other institutional investors have recently made changes to their positions in ITI. Dimensional Fund Advisors LP boosted its stake in shares of Iteris by 8.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 724,361 shares of the technology company’s stock valued at $2,159,000 after buying an additional 57,487 shares during the period. Vanguard Group Inc. lifted its stake in Iteris by 4.6% during the first quarter. Vanguard Group Inc. now owns 2,191,817 shares of the technology company’s stock worth $6,532,000 after purchasing an additional 96,281 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Iteris by 35.2% during the first quarter. Renaissance Technologies LLC now owns 587,885 shares of the technology company’s stock worth $1,752,000 after purchasing an additional 153,113 shares during the last quarter. Engineers Gate Manager LP lifted its stake in Iteris by 42.4% during the first quarter. Engineers Gate Manager LP now owns 110,062 shares of the technology company’s stock worth $328,000 after purchasing an additional 32,783 shares during the last quarter. Finally, State Street Corp lifted its stake in Iteris by 1.0% during the first quarter. State Street Corp now owns 688,089 shares of the technology company’s stock worth $2,051,000 after purchasing an additional 6,586 shares during the last quarter. Hedge funds and other institutional investors own 64.84% of the company’s stock.

Iteris Company Profile

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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.

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