Ituran Location and Control (NASDAQ:ITRN) Earns Buy Rating from Analysts at Maxim Group

Analysts at Maxim Group started coverage on shares of Ituran Location and Control (NASDAQ:ITRN) in a research report issued on Thursday. The firm set a “buy” rating and a $70.00 price target on the industrial products company’s stock. Maxim Group’s price target points to a potential upside of 40.08% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on ITRN. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ituran Location and Control in a research report on Monday, December 29th. Barclays increased their price target on shares of Ituran Location and Control from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. Wall Street Zen cut shares of Ituran Location and Control from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. Finally, Loop Capital set a $57.00 price objective on shares of Ituran Location and Control in a research note on Monday. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Ituran Location and Control currently has a consensus rating of “Buy” and an average price target of $60.67.

Ituran Location and Control Stock Down 0.0%

Shares of ITRN opened at $49.97 on Thursday. The company has a 50 day moving average price of $46.08 and a 200-day moving average price of $40.86. Ituran Location and Control has a fifty-two week low of $30.06 and a fifty-two week high of $51.33.

Ituran Location and Control (NASDAQ:ITRN) last issued its quarterly earnings data 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 analyst estimates of $93.30 million. Ituran Location and Control had a net margin of 16.15% and a return on equity of 27.27%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ITRN. Caitong International Asset Management Co. Ltd grew its holdings in shares of Ituran Location and Control by 257.4% during 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 buying an additional 453 shares during the last quarter. Global Retirement Partners LLC lifted its position in Ituran Location and Control by 50.1% during the 4th 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 purchased a new stake in Ituran Location and Control during the 3rd quarter valued at about $28,000. Jones Financial Companies Lllp increased its holdings in shares of 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 period. Finally, Covestor Ltd acquired a new position in shares of Ituran Location and Control in the third quarter valued at about $47,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

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.