Iteris (NASDAQ:ITI) Research Coverage Started at StockNews.com

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

Several other research firms also recently issued reports on ITI. Maxim Group reiterated a hold rating on shares of Iteris in a research note on Monday, August 12th. B. Riley restated a neutral rating and set a $7.20 price objective (down previously from $8.00) on shares of Iteris in a research note on Wednesday, August 21st. Finally, Northland Capmk downgraded Iteris from a strong-buy rating to a hold rating in a report on Friday, August 9th.

Iteris Trading Up 0.1 %

Shares of NASDAQ:ITI opened at $7.15 on Friday. The firm has a market cap of $307.27 million, a price-to-earnings ratio of 102.14 and a beta of 0.86. The stock’s 50-day moving average price is $6.43 and its two-hundred day moving average price is $5.22. Iteris has a 12-month low of $3.97 and a 12-month high of $7.16.

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

Insider Activity

In other Iteris news, major shareholder Samjo Management, Llc sold 1,200,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $7.00, for a total value of $8,400,000.00. Following the transaction, the insider now directly owns 5,013,300 shares of the company’s stock, valued at approximately $35,093,100. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Iteris

Several institutional investors and hedge funds have recently made changes to their positions in ITI. Cubist Systematic Strategies LLC bought a new stake in shares of Iteris during the 2nd quarter valued at about $91,000. First Eagle Investment Management LLC boosted its stake in Iteris by 3.7% during the 2nd 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. Renaissance Technologies LLC grew its position in Iteris by 24.2% in 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 during the last quarter. Dimensional Fund Advisors LP increased 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 purchasing an additional 43,493 shares during the period. Finally, Private Management Group Inc. raised its holdings 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 valued at $7,045,000 after buying an additional 191,511 shares during the last quarter. 51.16% of the stock is owned by institutional investors and hedge funds.

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.