Ituran Location and Control Ltd. (ITRN) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) from a hold rating to a buy rating in a research report report published on Wednesday morning. They currently have $38.00 target price on the industrial products company’s stock.

According to Zacks, “Ituran provides location-based services, consisting predominantly of stolen vehicle recovery and tracking services, as well as wireless communications products used in connection with its location-based services and various other applications. Ituran offers mobile asset location, Stolen Vehicle Recovery, management & control services for vehicles, cargo and personal security, and radio frequency identification products for various purposes including automatic meter reading, electronic toll collection and homeland security applications. “

Separately, BidaskClub upgraded shares of Ituran Location and Control from a strong sell rating to a sell rating in a research note on Thursday, August 17th.

Ituran Location and Control (NASDAQ:ITRN) traded up 0.29% on Wednesday, reaching $34.05. 62,787 shares of the company’s stock were exchanged. The company has a market cap of $713.96 million, a PE ratio of 17.51 and a beta of 0.80. The firm’s 50 day moving average price is $32.29 and its 200 day moving average price is $31.23. Ituran Location and Control has a 52-week low of $23.95 and a 52-week high of $36.95.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings results on Wednesday, August 16th. The industrial products company reported $0.50 EPS for the quarter. Ituran Location and Control had a net margin of 18.67% and a return on equity of 36.12%. The firm had revenue of $58.53 million during the quarter. On average, analysts expect that Ituran Location and Control will post $1.74 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Tuesday, September 19th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Monday, September 18th. Ituran Location and Control’s payout ratio is 49.23%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its holdings in shares of Ituran Location and Control by 30.8% in the second quarter. Wells Fargo & Company MN now owns 4,579 shares of the industrial products company’s stock worth $143,000 after buying an additional 1,078 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Ituran Location and Control by 47.8% in the second quarter. New York State Common Retirement Fund now owns 6,994 shares of the industrial products company’s stock worth $219,000 after buying an additional 2,263 shares during the last quarter. ETF Managers Group LLC purchased a new position in shares of Ituran Location and Control in the second quarter worth approximately $228,000. Covey Capital Advisors LLC purchased a new position in shares of Ituran Location and Control in the second quarter worth approximately $252,000. Finally, California Public Employees Retirement System purchased a new position in shares of Ituran Location and Control in the second quarter worth approximately $344,000. 51.75% of the stock is currently owned by institutional investors.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd. is a provider of location-based services, consisting of stolen vehicle recovery (SVR), fleet management services and other tracking services. The Company also provides wireless communication products used in connection with its location-based services and various other applications.

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