Ituran Location and Control (NASDAQ:ITRN) Hits New 1-Year High – Here’s Why

Ituran Location and Control Ltd. (NASDAQ:ITRN)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $52.24 and last traded at $52.3130, with a volume of 1520 shares traded. The stock had previously closed at $50.93.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ITRN. Maxim Group started coverage on shares of Ituran Location and Control in a research note on Thursday, March 12th. They issued a “buy” rating and a $70.00 target price for the company. Loop Capital set a $57.00 price target on shares of Ituran Location and Control in a research note on Monday, March 9th. Wall Street Zen upgraded shares of Ituran Location and Control from a “buy” rating to a “strong-buy” rating in a report on Sunday, March 15th. Barclays lifted their price objective on shares of Ituran Location and Control from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, March 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Ituran Location and Control in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $60.67.

Ituran Location and Control Stock Performance

The stock’s 50-day simple moving average is $47.27 and its two-hundred day simple moving average is $41.91. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 17.97 and a beta of 0.68.

Ituran Location and Control (NASDAQ:ITRN) last issued its quarterly earnings results on Thursday, March 5th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.01. The company had revenue of $93.50 million for the quarter, compared to the consensus estimate of $93.30 million. Ituran Location and Control had a return on equity of 27.27% and a net margin of 16.15%.

Ituran Location and Control Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Shareholders of record on Monday, March 30th will be issued a $1.50 dividend. This is an increase from Ituran Location and Control’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, March 30th. This represents a $6.00 dividend on an annualized basis and a yield of 11.5%. Ituran Location and Control’s payout ratio is 68.73%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd boosted its position in shares of Ituran Location and Control by 257.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 629 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 453 shares during the period. Global Retirement Partners LLC increased its position in Ituran Location and Control by 50.1% during the fourth quarter. Global Retirement Partners LLC now owns 656 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 219 shares during the period. Advisory Services Network LLC acquired a new position in Ituran Location and Control during the 3rd quarter valued at $28,000. Jones Financial Companies Lllp raised its stake in Ituran Location and Control by 327.2% during the 1st quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 939 shares during the last quarter. Finally, Covestor Ltd bought a new stake in Ituran Location and Control in the 3rd quarter valued at $47,000. 94.80% of the stock is currently owned by institutional investors and hedge funds.

About Ituran Location and Control

Ituran Location and Control Ltd. is a provider of wireless vehicle tracking and stolen vehicle recovery services. The company leverages a combination of cellular and global positioning system (GPS) technologies to offer real-time monitoring and location-based solutions for private vehicle owners, fleet operators and insurance companies. Its core offerings include subscription-based tracking devices, centralized control centers and software platforms that enable clients to detect unauthorized vehicle use, dispatch recovery teams and manage fleet logistics.

Founded in 1994 in Israel, Ituran pioneered the use of wireless communications for security and telematics applications.