Iteris (NASDAQ:ITI) Coverage Initiated by Analysts at Maxim Group

Maxim Group started coverage on shares of Iteris (NASDAQ:ITI) in a note issued to investors on Tuesday, Briefing.com reports. The brokerage set a “buy” rating and a $11.00 price target on the technology company’s stock. Maxim Group’s target price would suggest a potential upside of 144.99% from the company’s previous close.

Other equities analysts also recently issued reports about the company. StockNews.com downgraded Iteris from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. B. Riley lifted their target price on Iteris from $6.00 to $8.50 and gave the company a “buy” rating in a research note on Friday, February 9th.

Iteris Stock Up 0.2 %

Shares of NASDAQ ITI opened at $4.49 on Tuesday. The company has a 50 day moving average of $4.83 and a 200 day moving average of $4.70. Iteris has a twelve month low of $3.72 and a twelve month high of $5.49. The firm has a market cap of $192.67 million, a P/E ratio of 74.83 and a beta of 0.67.

Iteris (NASDAQ:ITI) last released its quarterly earnings data on Thursday, February 8th. The technology company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Iteris had a net margin of 1.45% and a return on equity of 3.76%. The firm had revenue of $42.13 million during the quarter, compared to analysts’ expectations of $41.39 million. As a group, equities analysts expect that Iteris will post 0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Iteris news, CEO J. Joseph Bergera sold 10,714 shares of Iteris stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $5.19, for a total transaction of $55,605.66. Following the completion of the sale, the chief executive officer now owns 182,424 shares of the company’s stock, valued at approximately $946,780.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Samjo Management, Llc sold 72,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $5.36, for a total transaction of $385,920.00. Following the sale, the insider now owns 6,320,800 shares of the company’s stock, valued at approximately $33,879,488. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO J. Joseph Bergera sold 10,714 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $5.19, for a total transaction of $55,605.66. Following the sale, the chief executive officer now owns 182,424 shares in the company, valued at approximately $946,780.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 129,968 shares of company stock valued at $675,777. 7.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Iteris

A number of institutional investors have recently added to or reduced their stakes in ITI. TIAA Trust National Association purchased a new position in shares of Iteris in the third quarter valued at approximately $1,032,000. Whittier Trust Co. lifted its holdings in Iteris by 9.3% in the 3rd quarter. Whittier Trust Co. now owns 44,602 shares of the technology company’s stock valued at $185,000 after purchasing an additional 3,794 shares in the last quarter. Worth Venture Partners LLC boosted its stake in Iteris by 19.1% during the 3rd quarter. Worth Venture Partners LLC now owns 282,266 shares of the technology company’s stock worth $1,169,000 after purchasing an additional 45,244 shares during the last quarter. Strs Ohio acquired a new stake in shares of Iteris in the third quarter valued at about $390,000. Finally, SG Americas Securities LLC lifted its stake in shares of Iteris by 47.0% in the fourth quarter. SG Americas Securities LLC now owns 18,439 shares of the technology company’s stock worth $96,000 after buying an additional 5,897 shares in the last quarter. Institutional investors and hedge funds 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.