Iteris (NASDAQ:ITI) Downgraded by StockNews.com to Buy

Iteris (NASDAQ:ITI) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

Separately, B. Riley boosted their price objective on shares of Iteris from $6.00 to $8.50 and gave the stock a “buy” rating in a research note on Friday, February 9th.

Iteris Stock Performance

Shares of NASDAQ ITI traded up $0.07 during midday trading on Tuesday, reaching $4.79. The company’s stock had a trading volume of 66,015 shares, compared to its average volume of 134,458. Iteris has a fifty-two week low of $3.72 and a fifty-two week high of $5.49. The business’s 50 day moving average price is $4.96 and its two-hundred day moving average price is $4.63. The company has a market cap of $205.54 million, a P/E ratio of 79.83 and a beta of 0.68.

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, meeting analysts’ consensus estimates of $0.01. Iteris had a net margin of 1.45% and a return on equity of 3.76%. The company had revenue of $42.13 million during the quarter, compared to the consensus estimate of $41.39 million. Sell-side analysts forecast that Iteris will post 0.1 earnings per share for the current fiscal year.

Insider Activity at Iteris

In other Iteris news, major shareholder Samjo Management, Llc sold 72,000 shares of the company’s 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 transaction, the insider now directly owns 6,320,800 shares in the company, valued at approximately $33,879,488. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Samjo Management, Llc sold 72,000 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $5.36, for a total transaction of $385,920.00. Following the transaction, the insider now directly owns 6,320,800 shares in the company, 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 13,450 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $5.03, for a total value of $67,653.50. Following the transaction, the chief executive officer now owns 192,238 shares in the company, valued at $966,957.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,164 shares of company stock worth $662,009. 7.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its position in Iteris by 211.2% during the 2nd quarter. BlackRock Inc. now owns 2,356,101 shares of the technology company’s stock valued at $9,330,000 after purchasing an additional 1,599,016 shares during the period. Millennium Management LLC purchased a new position in Iteris during the 2nd quarter valued at $1,600,000. State Street Corp increased its position in Iteris by 307.3% during the 2nd quarter. State Street Corp now owns 597,655 shares of the technology company’s stock valued at $2,367,000 after purchasing an additional 450,912 shares during the period. Geode Capital Management LLC increased its position in Iteris by 109.9% during the 2nd quarter. Geode Capital Management LLC now owns 820,725 shares of the technology company’s stock valued at $3,250,000 after purchasing an additional 429,750 shares during the period. Finally, Northern Trust Corp increased its position in Iteris by 333.8% during the 2nd quarter. Northern Trust Corp now owns 355,704 shares of the technology company’s stock valued at $1,409,000 after purchasing an additional 273,698 shares during the period. 64.84% 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.