Maxim Group Initiates Coverage on Ituran Location and Control (NASDAQ:ITRN)

Analysts at Maxim Group began coverage on shares of Ituran Location and Control (NASDAQ:ITRN) in a report released 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 objective points to a potential upside of 40.08% from the company’s previous close.

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

Ituran Location and Control Stock Down 0.0%

ITRN stock opened at $49.97 on Thursday. Ituran Location and Control has a 12 month low of $30.06 and a 12 month high of $51.33. The firm’s fifty day simple moving average is $46.08 and its 200-day simple moving average is $40.86.

Ituran Location and Control (NASDAQ:ITRN) last issued its earnings results on Thursday, March 5th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.01. Ituran Location and Control had a net margin of 16.15% and a return on equity of 27.27%. The firm had revenue of $93.50 million during the quarter, compared to analysts’ expectations of $93.30 million.

Institutional Trading of Ituran Location and Control

Several institutional investors have recently bought and sold shares of the business. Ibex Investors LLC increased its position in shares of Ituran Location and Control by 2.3% in the third quarter. Ibex Investors LLC now owns 896,313 shares of the industrial products company’s stock valued at $32,016,000 after buying an additional 20,000 shares in the last quarter. Y.D. More Investments Ltd grew its stake in Ituran Location and Control by 4.9% in the 4th quarter. Y.D. More Investments Ltd now owns 858,274 shares of the industrial products company’s stock valued at $37,236,000 after acquiring an additional 39,718 shares during the period. GW&K Investment Management LLC increased its holdings in Ituran Location and Control by 909.3% in the 4th quarter. GW&K Investment Management LLC now owns 539,817 shares of the industrial products company’s stock worth $23,218,000 after acquiring an additional 486,331 shares in the last quarter. Rice Hall James & Associates LLC raised its position in Ituran Location and Control by 7.0% during the fourth quarter. Rice Hall James & Associates LLC now owns 528,164 shares of the industrial products company’s stock worth $22,716,000 after acquiring an additional 34,550 shares during the period. Finally, River Road Asset Management LLC lifted its holdings in Ituran Location and Control by 0.3% during the fourth quarter. River Road Asset Management LLC now owns 410,105 shares of the industrial products company’s stock valued at $17,639,000 after purchasing an additional 1,370 shares in the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

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.