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

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

Several other equities research analysts have also recently issued reports on ITI. Maxim Group restated a hold rating on shares of Iteris in a research report on Monday, August 12th. Northland Capmk cut shares of Iteris from a strong-buy rating to a hold rating in a research report on Friday, August 9th. Finally, B. Riley restated 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.

Iteris Trading Up 0.1 %

NASDAQ:ITI opened at $7.11 on Friday. The company’s 50-day moving average price is $5.87 and its 200-day moving average price is $5.06. The company has a market cap of $304.45 million, a P/E ratio of 101.57 and a beta of 0.86. Iteris has a twelve month low of $3.97 and a twelve month high of $7.13.

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

Insider Activity

In related news, major shareholder Samjo Management, Llc sold 848,300 shares of Iteris 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 completion of the transaction, the insider now owns 4,165,000 shares in the company, valued at $29,113,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ITI. Vanguard Group Inc. lifted its position in shares of 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 during the last quarter. Private Management Group Inc. lifted its position in shares of Iteris by 13.3% during the 2nd 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. Dimensional Fund Advisors LP lifted its position in shares of Iteris by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,103,776 shares of the technology company’s stock worth $4,779,000 after buying an additional 43,493 shares during the last quarter. First Eagle Investment Management LLC lifted its position in shares of Iteris by 3.7% during the 2nd quarter. First Eagle Investment Management LLC now owns 515,381 shares of the technology company’s stock worth $2,232,000 after buying an additional 18,289 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of 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 buying an additional 73,300 shares during the last quarter. 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.