Iteris (NASDAQ:ITI) Upgraded to Strong-Buy by StockNews.com

Iteris (NASDAQ:ITIGet Free Report) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday.

Separately, B. Riley upped their price objective on shares of Iteris from $6.00 to $8.50 and gave the stock a “buy” rating in a report on Friday.

Read Our Latest Stock Report on ITI

Iteris Trading Down 0.4 %

ITI opened at $5.32 on Friday. The company’s fifty day moving average price is $4.84 and its two-hundred day moving average price is $4.50. Iteris has a 1-year low of $3.72 and a 1-year high of $5.49. The company has a market cap of $227.80 million, a price-to-earnings ratio of 88.67 and a beta of 0.68.

Iteris (NASDAQ:ITIGet Free Report) last released its quarterly earnings data on Thursday, November 9th. The technology company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). Iteris had a return on equity of 3.80% and a net margin of 1.45%. The business had revenue of $43.56 million for the quarter, compared to analyst estimates of $41.13 million. As a group, equities analysts forecast that Iteris will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at Iteris

In other news, major shareholder Samjo Management, Llc sold 72,000 shares of the company’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 completion of the sale, the insider now owns 6,320,800 shares in the company, valued at approximately $33,879,488. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Iteris

Several institutional investors have recently added to or reduced their stakes in ITI. BlackRock Inc. grew its position in Iteris by 211.2% during the second quarter. BlackRock Inc. now owns 2,356,101 shares of the technology company’s stock valued at $9,330,000 after buying an additional 1,599,016 shares during the period. Millennium Management LLC purchased a new stake in Iteris during the second quarter valued at about $1,600,000. State Street Corp lifted its holdings in Iteris by 307.3% during the second 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 last quarter. Geode Capital Management LLC lifted its holdings in Iteris by 109.9% during the second 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 last quarter. Finally, Northern Trust Corp lifted its holdings in Iteris by 333.8% during the second 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 last quarter. Institutional investors own 64.84% of the company’s stock.

Iteris Company Profile

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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.

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