Ituran Location and Control (NASDAQ:ITRN) Stock Crosses Below 50 Day Moving Average – Time to Sell?

Ituran Location and Control Ltd. (NASDAQ:ITRN) shares passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $51.58 and traded as low as $49.18. Ituran Location and Control shares last traded at $49.64, with a volume of 122,726 shares traded.

Analysts Set New Price Targets

ITRN has been the topic of several recent research reports. Wall Street Zen downgraded Ituran Location and Control from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings cut Ituran Location and Control from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, September 22nd. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $60.67.

Ituran Location and Control Stock Performance

The stock has a market cap of $987.34 million, a PE ratio of 15.32 and a beta of 0.79. The firm has a 50-day moving average price of $51.58 and a 200-day moving average price of $53.70.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings data on Wednesday, August 12th. The industrial products company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.87 by $0.01. The company had revenue of $104.79 million for the quarter, compared to the consensus estimate of $99.84 million. Ituran Location and Control had a net margin of 16.28% and a return on equity of 29.03%. As a group, sell-side analysts anticipate that Ituran Location and Control Ltd. will post 3.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Ituran Location and Control

A number of institutional investors have recently made changes to their positions in the company. Private Advisor Group LLC increased its position in shares of Ituran Location and Control by 9.1% during the third quarter. Private Advisor Group LLC now owns 4,241 shares of the industrial products company’s stock valued at $217,000 after acquiring an additional 352 shares in the last quarter. Boston Partners boosted its stake in Ituran Location and Control by 47.6% during the 3rd quarter. Boston Partners now owns 144,702 shares of the industrial products company’s stock valued at $7,412,000 after purchasing an additional 46,660 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Ituran Location and Control by 43.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,929 shares of the industrial products company’s stock worth $457,000 after purchasing an additional 2,723 shares in the last quarter. R Squared Ltd increased its holdings in shares of Ituran Location and Control by 102.7% in the 3rd quarter. R Squared Ltd now owns 9,532 shares of the industrial products company’s stock worth $488,000 after purchasing an additional 4,830 shares in the last quarter. Finally, First Command Advisory Services Inc. increased its holdings in shares of Ituran Location and Control by 153.0% in the 3rd quarter. First Command Advisory Services Inc. now owns 1,318 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 797 shares in the last quarter. Hedge funds and other institutional investors own 94.80% of the company’s stock.

About Ituran Location and Control

Ituran Location and Control Ltd. provides location-based telematics services and products for drivers, vehicle owners, and businesses. Its offerings include stolen-vehicle recovery and tracking, fleet management, and connected-vehicle services that help customers monitor vehicles and manage their use. The company combines in-vehicle hardware with wireless communications and location technology to deliver tracking, alerts, and vehicle-related information. Ituran serves customers in Israel and several international markets, including countries in Latin America.