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

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

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

Iteris Stock Performance

Iteris stock remained flat at $7.19 during mid-day trading on Friday. The company’s stock had a trading volume of 4,543 shares, compared to its average volume of 329,061. The company has a 50 day simple moving average of $7.15 and a 200 day simple moving average of $5.70. Iteris has a 12 month low of $4.00 and a 12 month high of $7.20. The company has a market capitalization of $307.88 million, a PE ratio of 239.75 and a beta of 0.87.

Iteris (NASDAQ:ITI) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Iteris had a return on equity of 2.02% and a net margin of 0.80%. The company had revenue of $45.78 million during the quarter, compared to the consensus estimate of $44.02 million. Analysts expect that Iteris will post 0.16 earnings per share for the current fiscal year.

Insider Transactions at Iteris

In other Iteris news, major shareholder Samjo Management, Llc sold 848,300 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 4,165,000 shares in the company, valued at approximately $29,113,350. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. acquired a new stake in Iteris in the 1st quarter worth about $1,270,000. 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 purchasing an additional 191,511 shares in the last quarter. Acuitas Investments LLC raised its stake in Iteris by 155.2% in the 2nd quarter. Acuitas Investments LLC now owns 270,534 shares of the technology company’s stock valued at $1,171,000 after purchasing an additional 164,539 shares during the last quarter. Natixis purchased a new position in Iteris in the 1st quarter valued at $642,000. Finally, Wolverine Asset Management LLC purchased a new position in Iteris in the 3rd quarter valued at $751,000. Hedge funds and other institutional investors own 51.16% of the company’s stock.

About Iteris

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.