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

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

A number of other brokerages have also weighed in on ITI. B. Riley restated a neutral rating and issued a $7.20 price objective (down previously from $8.00) on shares of Iteris in a report on Wednesday, August 21st. Northland Capmk downgraded shares of 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 Stock Down 0.1 %

ITI opened at $7.10 on Friday. The firm’s fifty day simple moving average is $5.93 and its two-hundred day simple moving average is $5.07. Iteris has a 52-week low of $3.97 and a 52-week high of $7.13. The company has a market cap of $304.02 million, a price-to-earnings ratio of 101.43 and a beta of 0.86.

Iteris (NASDAQ:ITI) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Iteris had a net margin of 0.80% and a return on equity of 2.02%. The company had revenue of $45.78 million during the quarter, compared to analysts’ expectations of $44.02 million. On average, research analysts forecast that Iteris will post 0.18 EPS for the current year.

Insider Buying and Selling at Iteris

In other news, major shareholder Samjo Management, Llc sold 848,300 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $6.99, for a total value of $5,929,617.00. Following the transaction, the insider now directly owns 4,165,000 shares in the company, valued at approximately $29,113,350. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Iteris

Several institutional investors and hedge funds have recently modified their holdings of ITI. Vanguard Group Inc. lifted its holdings in Iteris by 1.7% during the 1st 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 in the last quarter. Private Management Group Inc. increased its position in shares of Iteris by 13.3% during the second quarter. Private Management Group Inc. now owns 1,626,954 shares of the technology company’s stock worth $7,045,000 after acquiring an additional 191,511 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Iteris by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,103,776 shares of the technology company’s stock valued at $4,779,000 after acquiring an additional 43,493 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in Iteris by 3.7% in the second quarter. First Eagle Investment Management LLC now owns 515,381 shares of the technology company’s stock valued at $2,232,000 after purchasing an additional 18,289 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Iteris by 24.2% during the 2nd quarter. Renaissance Technologies LLC now owns 375,885 shares of the technology company’s stock worth $1,628,000 after purchasing an additional 73,300 shares in 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.