Maxim Group Begins Coverage on Iteris (NASDAQ:ITI)

Analysts at Maxim Group assumed coverage on shares of Iteris (NASDAQ:ITI) in a report issued on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $11.00 price target on the technology company’s stock. Maxim Group’s price target would indicate a potential upside of 144.99% from the company’s previous close.

ITI has been the topic of several other research reports. StockNews.com downgraded shares of Iteris from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. B. Riley upped 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

Shares of ITI stock opened at $4.49 on Tuesday. The stock has a fifty day moving average price of $4.83 and a 200 day moving average price of $4.70. The stock has a market cap of $192.67 million, a PE ratio of 74.83 and a beta of 0.67. Iteris has a 1 year low of $3.72 and a 1 year high of $5.49.

Iteris (NASDAQ:ITI) last released its quarterly earnings results on Thursday, February 8th. The technology company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. Iteris had a return on equity of 3.76% and a net margin of 1.45%. The business had revenue of $42.13 million during the quarter, compared to the consensus estimate of $41.39 million. As a group, equities research 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 31,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $4.93, for a total transaction of $152,830.00. Following the transaction, the insider now owns 6,432,800 shares of the company’s stock, valued at $31,713,704. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Samjo Management, Llc sold 31,000 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $4.93, for a total value of $152,830.00. Following the completion of the transaction, the insider now directly owns 6,432,800 shares in the company, valued at $31,713,704. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO J. Joseph Bergera sold 13,450 shares of the stock in a transaction dated Monday, March 4th. The stock was 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 quarter, insiders sold 129,968 shares of company stock valued at $675,777. 7.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Iteris

Several hedge funds have recently modified their holdings of the stock. Acuitas Investments LLC grew its position in Iteris by 0.6% during the third quarter. Acuitas Investments LLC now owns 552,651 shares of the technology company’s stock valued at $2,288,000 after acquiring an additional 3,442 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of Iteris by 4.9% in the 4th quarter. First Eagle Investment Management LLC now owns 478,069 shares of the technology company’s stock valued at $2,486,000 after purchasing an additional 22,289 shares in the last quarter. Bouvel Investment Partners LLC grew its holdings in shares of Iteris by 2.3% during the 1st quarter. Bouvel Investment Partners LLC now owns 301,740 shares of the technology company’s stock worth $1,491,000 after purchasing an additional 6,850 shares during the period. Worth Venture Partners LLC increased its position 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 in the last quarter. Finally, TIAA Trust National Association purchased a new position in Iteris in the third quarter valued at approximately $1,032,000. 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.