Ituran Location and Control (NASDAQ:ITRN) Cut to Buy at Wall Street Zen

Ituran Location and Control (NASDAQ:ITRN) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings lowered shares of Ituran Location and Control from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, September 22nd. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.67.

Ituran Location and Control Stock Performance

Shares of ITRN opened at $49.76 on Friday. Ituran Location and Control has a fifty-two week low of $35.22 and a fifty-two week high of $68.30. The firm has a market cap of $989.73 million, a price-to-earnings ratio of 15.36 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 $53.64.

Ituran Location and Control (NASDAQ:ITRN) last released its earnings results on Wednesday, August 12th. The industrial products company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.01. The business had revenue of $104.79 million during the quarter, compared to the consensus estimate of $99.84 million. Ituran Location and Control had a return on equity of 29.03% and a net margin of 16.28%. As a group, equities research analysts predict that Ituran Location and Control will post 3.54 earnings per share for the current year.

Hedge Funds Weigh In On Ituran Location and Control

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cannell & Spears LLC bought a new position in shares of Ituran Location and Control in the first quarter worth $2,373,000. Asset One Wealth Management LLC purchased a new stake in shares of Ituran Location and Control in the third quarter worth about $2,262,000. Navellier & Associates Inc. boosted its stake in Ituran Location and Control by 286.6% in the second quarter. Navellier & Associates Inc. now owns 51,056 shares of the industrial products company’s stock valued at $3,115,000 after acquiring an additional 37,849 shares in the last quarter. Y.D. More Investments Ltd grew its position in shares of Ituran Location and Control by 3.8% in the first quarter. Y.D. More Investments Ltd now owns 891,274 shares of the industrial products company’s stock valued at $43,681,000 after purchasing an additional 33,000 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Ituran Location and Control in the first quarter valued at $1,451,000. 94.80% of the stock is owned by institutional investors.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd. is an Israel-based provider of vehicle location, tracking and control services. The company develops and operates solutions designed to help recover stolen vehicles, monitor vehicle locations and improve the safety, security and management of automobiles and other mobile assets.

Its offerings include stolen-vehicle recovery systems, GPS and cellular tracking devices, fleet-management tools, telematics services and related subscription-based monitoring services.