Analysts Set Ituran Location and Control Ltd. (NASDAQ:ITRN) PT at $60.67

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

ITRN has been the topic of a number of research analyst reports. Loop Capital set a $57.00 target price on Ituran Location and Control in a report on Monday, March 9th. Barclays increased their target price on Ituran Location and Control from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Maxim Group initiated coverage on Ituran Location and Control in a report on Thursday, March 12th. They set a “buy” rating and a $70.00 target price on the stock. Zacks Research raised Ituran Location and Control to a “hold” rating in a report on Thursday, May 28th. Finally, UBS Group reaffirmed a “buy” rating on shares of Ituran Location and Control in a report on Wednesday, May 27th.

Ituran Location and Control Stock Down 1.9%

Shares of NASDAQ ITRN opened at $61.01 on Wednesday. Ituran Location and Control has a fifty-two week low of $32.71 and a fifty-two week high of $68.30. The business has a 50 day moving average price of $61.13 and a two-hundred day moving average price of $52.13. The firm has a market cap of $1.21 billion, a PE ratio of 20.14 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, topping analysts’ consensus estimates 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 company had revenue of $102.67 million for the quarter, compared to the consensus estimate of $95.32 million. On average, analysts anticipate that Ituran Location and Control will post 3.5 earnings per share for the current year.

Ituran Location and Control Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 24th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, June 24th. Ituran Location and Control’s dividend payout ratio (DPR) is currently 66.01%.

Institutional Trading of Ituran Location and Control

Hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Ituran Location and Control by 257.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 629 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 453 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Ituran Location and Control by 50.1% in the 4th quarter. Global Retirement Partners LLC now owns 656 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 219 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Ituran Location and Control in the 3rd quarter worth approximately $28,000. Jones Financial Companies Lllp lifted its holdings in shares of Ituran Location and Control by 327.2% in the 1st quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 939 shares during the last quarter. Finally, National Bank of Canada FI bought a new stake in shares of Ituran Location and Control in the 3rd quarter worth approximately $53,000. Institutional investors own 94.80% of the company’s stock.

About Ituran Location and Control

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.