Iteris (NASDAQ:ITI) Now Covered by Analysts at Maxim Group

Investment analysts at Maxim Group started coverage on shares of Iteris (NASDAQ:ITI) in a note issued to investors on Tuesday, MarketBeat reports. The firm set a “buy” rating and a $11.00 price target on the technology company’s stock. Maxim Group’s price objective would indicate a potential upside of 142.29% from the stock’s previous close.

A number of other research firms have also recently commented on ITI. StockNews.com cut Iteris from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. B. Riley increased 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 Performance

Iteris stock opened at $4.54 on Tuesday. The stock has a market cap of $194.81 million, a P/E ratio of 75.67 and a beta of 0.67. Iteris has a fifty-two week low of $3.72 and a fifty-two week high of $5.49. The firm’s fifty day moving average price is $4.81 and its 200-day moving average price is $4.70.

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

Insider Activity at Iteris

In related news, major shareholder Samjo Management, Llc sold 72,000 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $5.36, for a total value of $385,920.00. Following the transaction, the insider now owns 6,320,800 shares of the company’s stock, valued at $33,879,488. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other 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 value of $55,605.66. Following the transaction, the chief executive officer now owns 182,424 shares in the company, valued at $946,780.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Samjo Management, Llc sold 72,000 shares of Iteris stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $5.36, for a total value of $385,920.00. Following the completion of the transaction, the insider now owns 6,320,800 shares in the company, valued at approximately $33,879,488. The disclosure for this sale can be found here. Insiders have sold a total of 98,968 shares of company stock valued at $522,947 over the last 90 days. 7.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ITI. TIAA Trust National Association purchased a new position in shares of Iteris in the third quarter worth about $1,032,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Iteris in the third quarter worth about $563,000. Strs Ohio bought a new stake in shares of Iteris in the third quarter worth about $390,000. Manatuck Hill Partners LLC bought a new stake in shares of Iteris in the third quarter worth about $248,000. Finally, Worth Venture Partners LLC grew its stake in shares of Iteris by 19.1% in the third 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. 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.