Iteris (NASDAQ:ITI) Earns Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Iteris (NASDAQ:ITI) in a research report sent to investors on Thursday. The firm issued a buy rating on the technology company’s stock.

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

Iteris Price Performance

Shares of Iteris stock opened at $7.19 on Thursday. Iteris has a fifty-two week low of $4.00 and a fifty-two week high of $7.20. The business’s fifty day moving average is $7.14 and its two-hundred day moving average is $5.61. The firm has a market cap of $307.88 million, a PE ratio of 239.75 and a beta of 0.87.

Iteris (NASDAQ:ITI) last released its 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). Iteris had a return on equity of 2.02% and a net margin of 0.80%. The business had revenue of $45.78 million for the quarter, compared to analysts’ expectations of $44.02 million. Equities research analysts anticipate that Iteris will post 0.16 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Samjo Management, Llc sold 848,300 shares of the firm’s stock in a transaction 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 owns 4,165,000 shares of the company’s stock, valued at approximately $29,113,350. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Iteris

Hedge funds have recently modified their holdings of the stock. First Eagle Investment Management LLC grew its holdings in Iteris by 4.0% during the 1st quarter. First Eagle Investment Management LLC now owns 497,092 shares of the technology company’s stock valued at $2,456,000 after purchasing an additional 19,023 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Iteris by 1.7% during the first quarter. Vanguard Group Inc. now owns 2,454,413 shares of the technology company’s stock valued at $12,125,000 after acquiring an additional 41,618 shares in the last quarter. Natixis purchased a new stake in shares of Iteris during the first quarter worth about $642,000. EntryPoint Capital LLC acquired a new position in shares of Iteris in the first quarter worth about $66,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Iteris in the first quarter valued at about $43,000. 51.16% of the stock is currently owned by hedge funds and other institutional investors.

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.