Ituran Location and Control Ltd. (NASDAQ:ITRN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “Ituran provides location-based services, consisting predominantly of stolen vehicle recovery and tracking services, as well as wireless communications products used in connection with its location-based services and various other applications. Ituran offers mobile asset location, Stolen Vehicle Recovery, management & control services for vehicles, cargo and personal security, and radio frequency identification products for various purposes including automatic meter reading, electronic toll collection and homeland security applications. “

Separately, BidaskClub upgraded Ituran Location and Control from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th.

Ituran Location and Control (NASDAQ ITRN) opened at 29.95 on Tuesday. The stock’s 50 day moving average is $31.14 and its 200 day moving average is $30.19. The firm has a market cap of $627.99 million, a price-to-earnings ratio of 16.55 and a beta of 0.80. Ituran Location and Control has a 52 week low of $23.73 and a 52 week high of $36.95.

Ituran Location and Control (NASDAQ:ITRN) last released its earnings results on Wednesday, May 17th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter. Ituran Location and Control had a return on equity of 35.51% and a net margin of 18.15%. The firm had revenue of $57.11 million during the quarter. Equities research analysts expect that Ituran Location and Control will post $1.74 EPS for the current year.

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Hedge funds have recently added to or reduced their stakes in the company. Sphera Funds Management LTD. raised its position in shares of Ituran Location and Control by 8.2% in the second quarter. Sphera Funds Management LTD. now owns 304,421 shares of the industrial products company’s stock worth $9,528,000 after buying an additional 23,065 shares during the last quarter. Analyst IMS Investment Management Services Ltd. raised its position in shares of Ituran Location and Control by 6.1% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 656,662 shares of the industrial products company’s stock worth $20,553,000 after buying an additional 37,877 shares during the last quarter. Rice Hall James & Associates LLC raised its position in shares of Ituran Location and Control by 23.0% in the second quarter. Rice Hall James & Associates LLC now owns 134,755 shares of the industrial products company’s stock worth $4,218,000 after buying an additional 25,194 shares during the last quarter. Sei Investments Co. purchased a new position in shares of Ituran Location and Control during the second quarter worth approximately $754,000. Finally, Eagle Global Advisors LLC raised its position in shares of Ituran Location and Control by 14.3% in the second quarter. Eagle Global Advisors LLC now owns 27,896 shares of the industrial products company’s stock worth $873,000 after buying an additional 3,500 shares during the last quarter. Hedge funds and other institutional investors own 52.18% of the company’s stock.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd. is a provider of location-based services, consisting of stolen vehicle recovery (SVR), fleet management services and other tracking services. The Company also provides wireless communication products used in connection with its location-based services and various other applications.

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