StockNews.com Begins Coverage on Iteris (NASDAQ:ITI)

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

Several other brokerages also recently weighed in on ITI. B. Riley reissued a “neutral” rating and issued a $7.20 target price (down previously from $8.00) on shares of Iteris in a research note on Wednesday, August 21st. Maxim Group reissued a “hold” rating on shares of Iteris in a research note on Monday, August 12th. Finally, Northland Capmk downgraded shares of Iteris from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th.

Iteris Price Performance

Shares of NASDAQ ITI opened at $7.19 on Friday. The firm has a fifty day moving average price of $7.15 and a 200-day moving average price of $5.70. The stock has a market cap of $307.88 million, a PE ratio of 239.75 and a beta of 0.87. Iteris has a 1 year low of $4.00 and a 1 year high of $7.20.

Iteris (NASDAQ:ITI) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). Iteris had a net margin of 0.80% and a return on equity of 2.02%. The business had revenue of $45.78 million for the quarter, compared to the consensus estimate of $44.02 million. On average, research analysts expect that Iteris will post 0.16 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. acquired a new stake in Iteris in the 1st quarter worth approximately $1,270,000. Private Management Group Inc. boosted its stake in Iteris by 13.3% in the 2nd 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 boosted 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 worth $1,171,000 after purchasing an additional 164,539 shares in the last quarter. Natixis acquired a new stake in Iteris in the 1st quarter worth approximately $642,000. Finally, Wolverine Asset Management LLC acquired a new stake in Iteris in the 3rd quarter worth approximately $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.