Ituran Location and Control (NASDAQ:ITRN) Reaches New 52-Week High – What’s Next?

Ituran Location and Control Ltd. (NASDAQ:ITRN)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $49.72 and last traded at $48.7250, with a volume of 61931 shares changing hands. The stock had previously closed at $48.58.

Analyst Upgrades and Downgrades

ITRN has been the subject of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Ituran Location and Control in a research report on Monday, December 29th. Wall Street Zen upgraded Ituran Location and Control from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Ituran Location and Control currently has a consensus rating of “Buy” and a consensus target price of $50.00.

Ituran Location and Control Price Performance

The company has a fifty day moving average price of $44.72 and a 200-day moving average price of $40.11.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC increased its position in Ituran Location and Control by 50.1% in the fourth quarter. Global Retirement Partners LLC now owns 656 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 219 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Ituran Location and Control in the 3rd quarter worth $28,000. Assetmark Inc. bought a new stake in shares of Ituran Location and Control in the 2nd quarter worth about $37,000. Jones Financial Companies Lllp increased its holdings in shares of Ituran Location and Control by 327.2% in the 1st quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company’s stock worth $43,000 after buying an additional 939 shares during the last quarter. Finally, Covestor Ltd purchased a new stake in shares of Ituran Location and Control during the 3rd quarter valued at about $47,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Ituran Location and Control Company Profile

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.