Ituran Location and Control Ltd. (NASDAQ:ITRN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Ituran Location and Control Ltd. (NASDAQ:ITRN) has been given an average recommendation of “Moderate Buy” by the five analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $60.6667.

Several research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Ituran Location and Control to a “hold” rating in a research note on Thursday, May 28th. UBS Group restated a “buy” rating on shares of Ituran Location and Control in a research note on Wednesday, May 27th. Wall Street Zen raised shares of Ituran Location and Control from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 2nd. Finally, Weiss Ratings upgraded Ituran Location and Control from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday.

Institutional Trading of Ituran Location and Control

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its holdings 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 worth $27,000 after buying an additional 453 shares during the period. Global Retirement Partners LLC raised its stake 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 buying an additional 219 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Ituran Location and Control during the 3rd quarter worth $28,000. Jones Financial Companies Lllp grew its stake in Ituran Location and Control by 327.2% in the first 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, National Bank of Canada FI bought a new position in Ituran Location and Control in the third quarter worth about $53,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Ituran Location and Control Stock Performance

Shares of ITRN opened at $52.67 on Monday. The firm has a market cap of $1.05 billion, a PE ratio of 16.26 and a beta of 0.78. Ituran Location and Control has a 1-year low of $33.98 and a 1-year high of $68.30. The firm has a fifty day simple moving average of $53.67 and a two-hundred day simple moving average of $55.56.

Ituran Location and Control (NASDAQ:ITRN) last announced its earnings results on Wednesday, August 12th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.01. The business had revenue of $104.79 million for the quarter, compared to analysts’ expectations of $99.84 million. Ituran Location and Control had a return on equity of 29.03% and a net margin of 16.28%. As a group, research analysts forecast that Ituran Location and Control will post 3.54 EPS for the current fiscal year.

Ituran Location and Control Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Tuesday, September 29th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.8%. The ex-dividend date is Tuesday, September 29th. Ituran Location and Control’s dividend payout ratio is presently 61.73%.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd. (NASDAQ: ITRN) is an Israel-based provider of location-based services and telematics solutions. The company develops and operates systems that use cellular, satellite and other communications technologies to track vehicles and assets, support stolen-vehicle recovery and provide information for fleet and mobility management.

Its products and services include vehicle tracking and security systems, fleet-management tools, connected-car services, and usage-based or telematics-enabled solutions for insurers and automotive businesses.