Ituran Location and Control Ltd. (NASDAQ:ITRN) Receives $60.67 Consensus Target Price from Analysts

Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) have been assigned an average rating of “Moderate Buy” from the five research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $60.6667.

A number of analysts have recently commented on ITRN shares. UBS Group reissued a “buy” rating on shares of Ituran Location and Control in a research report on Wednesday, May 27th. Zacks Research raised shares of Ituran Location and Control to a “hold” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen upgraded shares of Ituran Location and Control from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 2nd.

Institutional Trading of Ituran Location and Control

A number of hedge funds and other institutional investors have recently modified their holdings of ITRN. Y.D. More Investments Ltd grew its stake in Ituran Location and Control by 4.9% in the fourth quarter. Y.D. More Investments Ltd now owns 858,274 shares of the industrial products company’s stock valued at $37,236,000 after purchasing an additional 39,718 shares in the last quarter. J.M. Arbour LLC bought a new stake in shares of Ituran Location and Control during the 4th quarter worth approximately $881,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Ituran Location and Control during the 1st quarter worth approximately $1,451,000. Total Wealth Planning & Management Inc. acquired a new stake in shares of Ituran Location and Control in the 4th quarter valued at approximately $689,000. Finally, Legato Capital Management LLC boosted its holdings in shares of Ituran Location and Control by 509.7% in the 4th quarter. Legato Capital Management LLC now owns 34,739 shares of the industrial products company’s stock valued at $1,494,000 after buying an additional 29,041 shares during the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Ituran Location and Control Stock Performance

Shares of Ituran Location and Control stock opened at $54.77 on Friday. The business’s 50 day simple moving average is $60.62 and its 200 day simple moving average is $53.72. Ituran Location and Control has a 52-week low of $32.71 and a 52-week high of $68.30. The firm has a market cap of $1.09 billion, a PE ratio of 18.08 and a beta of 0.77.

Ituran Location and Control (NASDAQ:ITRN) last released its earnings results on Tuesday, May 26th. The industrial products company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.80 by $0.05. Ituran Location and Control had a return on equity of 27.70% and a net margin of 16.03%.The firm had revenue of $102.67 million for the quarter, compared to analysts’ expectations of $95.32 million. As a group, equities research analysts predict that Ituran Location and Control will post 3.5 EPS for the current year.

Ituran Location and Control Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 24th were issued a $0.50 dividend. The ex-dividend date was Wednesday, June 24th. This represents a $2.00 annualized dividend and a dividend yield of 3.7%. Ituran Location and Control’s dividend payout ratio (DPR) is presently 66.01%.

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.