Ituran Location and Control (NASDAQ:ITRN) Shares Gap Up to $21.85


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Ituran Location and Control Ltd. (NASDAQ:ITRN) gapped up prior to trading on Tuesday . The stock had previously closed at $21.85, but opened at $22.74. Ituran Location and Control shares last traded at $22.49, with a volume of 2 shares changing hands.

Several equities analysts recently issued reports on the company. Barclays upped their target price on Ituran Location and Control from $23.00 to $26.00 in a research report on Thursday, March 4th. Zacks Investment Research raised Ituran Location and Control from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 16th.

The firm’s 50 day moving average price is $22.05 and its 200-day moving average price is $19.37. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.28 and a current ratio of 1.49. The firm has a market capitalization of $525.26 million, a PE ratio of -84.15 and a beta of 1.38.

Ituran Location and Control (NASDAQ:ITRN) last issued its quarterly earnings results on Tuesday, March 2nd. The industrial products company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.02). The company had revenue of $63.61 million during the quarter, compared to analysts’ expectations of $62.82 million. Ituran Location and Control had a negative net margin of 2.41% and a positive return on equity of 23.94%. On average, equities research analysts expect that Ituran Location and Control Ltd. will post 1.46 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 6th. Stockholders of record on Tuesday, March 23rd were issued a dividend of $0.48 per share. The ex-dividend date was Monday, March 22nd. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.58%. This is an increase from Ituran Location and Control’s previous quarterly dividend of $0.24. Ituran Location and Control’s dividend payout ratio (DPR) is currently 30.38%.

Institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in shares of Ituran Location and Control during the fourth quarter worth about $31,000. Wells Fargo & Company MN lifted its holdings in shares of Ituran Location and Control by 23.3% in the fourth quarter. Wells Fargo & Company MN now owns 3,701 shares of the industrial products company’s stock valued at $70,000 after purchasing an additional 700 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Ituran Location and Control by 121.3% in the fourth quarter. New York State Common Retirement Fund now owns 3,704 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 2,030 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Ituran Location and Control by 813.6% in the third quarter. JPMorgan Chase & Co. now owns 8,606 shares of the industrial products company’s stock valued at $125,000 after purchasing an additional 7,664 shares in the last quarter. Finally, Annandale Capital LLC purchased a new stake in shares of Ituran Location and Control in the fourth quarter valued at about $191,000. 56.31% of the stock is owned by institutional investors and hedge funds.

Ituran Location and Control Company Profile (NASDAQ:ITRN)

Ituran Location and Control Ltd., together with its subsidiaries, provides location-based services and wireless communications products. The company's Location-Based Services segment provides stolen vehicle recovery and tracking services, which locate, track, and recover stolen vehicles for its subscribers; fleet management services that enable corporate and individual customers to track and manage their vehicles in real time; and personal locator services that allow customers to protect valuable merchandise and equipment.

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