Ituran Location and Control Ltd. (US) (ITRN) Upgraded by BidaskClub to “Buy”

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group reissued a “buy” rating and set a $41.00 target price on shares of Ituran Location and Control Ltd. (US) in a report on Tuesday. Zacks Investment Research raised shares of Ituran Location and Control Ltd. (US) from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Thursday, September 20th.

Shares of Ituran Location and Control Ltd. (US) stock opened at $32.84 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.73 and a quick ratio of 1.42. Ituran Location and Control Ltd. has a 1 year low of $29.25 and a 1 year high of $36.72. The firm has a market cap of $714.94 million, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 0.87 and a beta of 0.85.

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) last issued its earnings results on Monday, November 26th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.14. Ituran Location and Control Ltd. (US) had a net margin of 25.13% and a return on equity of 32.17%. The firm had revenue of $53.38 million during the quarter, compared to analysts’ expectations of $57.06 million. As a group, equities analysts anticipate that Ituran Location and Control Ltd. will post 2.4 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. ARK Investment Management LLC grew its position in Ituran Location and Control Ltd. (US) by 8.7% during the third quarter. ARK Investment Management LLC now owns 18,127 shares of the industrial products company’s stock valued at $624,000 after buying an additional 1,446 shares during the period. Prudential Financial Inc. grew its position in Ituran Location and Control Ltd. (US) by 10.3% during the third quarter. Prudential Financial Inc. now owns 27,927 shares of the industrial products company’s stock valued at $961,000 after buying an additional 2,600 shares during the period. Swiss National Bank grew its position in Ituran Location and Control Ltd. (US) by 12.0% during the third quarter. Swiss National Bank now owns 30,725 shares of the industrial products company’s stock valued at $1,057,000 after buying an additional 3,300 shares during the period. Raymond James & Associates grew its position in Ituran Location and Control Ltd. (US) by 22.4% during the second quarter. Raymond James & Associates now owns 19,507 shares of the industrial products company’s stock valued at $592,000 after buying an additional 3,565 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in Ituran Location and Control Ltd. (US) during the second quarter valued at $108,000. Institutional investors own 57.99% of the company’s stock.

About Ituran Location and Control Ltd. (US)

Ituran Location and Control Ltd., together with its subsidiaries, provides location-based services and wireless communications products in Israel, Brazil, Argentina, and the United States. 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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