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

StockNews.com began coverage on shares of Iteris (NASDAQ:ITI - Free Report) in a research note released on Thursday morning. The brokerage issued a buy rating on the technology company's stock.

Other equities research analysts have also issued reports about the stock. Northland Capmk lowered shares of Iteris from a "strong-buy" rating to a "hold" rating in a report on Friday, August 9th. Maxim Group reissued a "hold" rating on shares of Iteris in a report on Monday, August 12th. Finally, B. Riley reissued 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 Trading Down 0.1 %

Shares of ITI stock traded down $0.01 during trading hours on Thursday, reaching $7.19. 632,597 shares of the company's stock were exchanged, compared to its average volume of 328,998. The stock's 50 day moving average is $7.14 and its 200-day moving average is $5.59. The company has a market cap of $307.88 million, a price-to-earnings ratio of 239.75 and a beta of 0.86. Iteris has a fifty-two week low of $4.00 and a fifty-two week high of $7.20.

Iteris (NASDAQ:ITI - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.01). The business had revenue of $45.78 million for the quarter, compared to analyst estimates of $44.02 million. Iteris had a return on equity of 2.02% and a net margin of 0.80%. Equities analysts anticipate that Iteris will post 0.16 EPS for the current year.

Insider Buying and Selling at Iteris

In other Iteris news, major shareholder Samjo Management, Llc sold 848,300 shares of the company'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 sale, the insider now directly owns 4,165,000 shares of the company's stock, valued at approximately $29,113,350. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Iteris

Several hedge funds have recently added to or reduced their stakes in ITI. Olympiad Research LP acquired a new position in shares of Iteris in the third quarter worth about $510,000. Forum Financial Management LP acquired a new position in shares of Iteris in the third quarter worth about $279,000. Whittier Trust Co. raised its position in shares of Iteris by 4.7% in the third quarter. Whittier Trust Co. now owns 42,552 shares of the technology company's stock worth $304,000 after acquiring an additional 1,897 shares during the period. SG Americas Securities LLC acquired a new position in shares of Iteris in the third quarter worth about $125,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Iteris in the second quarter worth about $91,000. 51.16% of the stock is 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.