Iteris (NASDAQ:ITI) Now Covered by Maxim Group

Equities research analysts at Maxim Group initiated coverage on shares of Iteris (NASDAQ:ITI) in a report issued on Tuesday, MarketBeat.com 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 suggest a potential upside of 142.29% from the stock’s current price.

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

Iteris Price Performance

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

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

Insider Activity at Iteris

In related news, major shareholder Samjo Management, Llc sold 72,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO J. Joseph Bergera sold 10,714 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was 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 of the company’s stock, valued at approximately $946,780.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Samjo Management, Llc sold 72,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $5.36, for a total value of $385,920.00. Following the sale, the insider now directly 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 in the last 90 days. 7.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new position in Iteris during the 3rd quarter worth about $46,000. Bfsg LLC acquired a new position in Iteris during the 4th quarter worth about $50,000. SG Americas Securities LLC acquired a new position in Iteris during the 3rd quarter worth about $52,000. Panagora Asset Management Inc. acquired a new position in Iteris during the 3rd quarter worth about $116,000. Finally, Whittier Trust Co. lifted its holdings in Iteris by 9.3% during the 3rd quarter. Whittier Trust Co. now owns 44,602 shares of the technology company’s stock worth $185,000 after buying an additional 3,794 shares during the period. 51.16% of the stock is owned by institutional investors and hedge funds.

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.