Ituran Location and Control (NASDAQ:ITRN) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Ituran Location and Control (NASDAQ:ITRN) announced its earnings results on Tuesday. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.06, Zacks reports. Ituran Location and Control had a return on equity of 28.24% and a net margin of 16.35%.The company had revenue of $92.28 million for the quarter, compared to analysts’ expectations of $86.52 million.

Ituran Location and Control Trading Up 0.8%

Shares of Ituran Location and Control stock opened at $36.93 on Tuesday. The business’s fifty day simple moving average is $36.67 and its 200 day simple moving average is $37.41. Ituran Location and Control has a 12 month low of $26.60 and a 12 month high of $45.43. The firm has a market capitalization of $734.54 million, a P/E ratio of 13.24 and a beta of 0.88.

Analysts Set New Price Targets

ITRN has been the topic of several recent analyst reports. Wall Street Zen cut Ituran Location and Control from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ituran Location and Control in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $50.00.

Institutional Investors Weigh In On Ituran Location and Control

Several large investors have recently made changes to their positions in the business. Jones Financial Companies Lllp boosted 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 buying an additional 939 shares during the last quarter. National Bank of Canada FI purchased a new stake in Ituran Location and Control during the third quarter worth about $53,000. Quantbot Technologies LP bought a new stake in Ituran Location and Control in the third quarter worth about $63,000. Jane Street Group LLC bought a new stake in Ituran Location and Control in the first quarter worth about $223,000. Finally, Bank of America Corp DE boosted its stake in Ituran Location and Control by 43.2% in the second quarter. Bank of America Corp DE now owns 6,196 shares of the industrial products company’s stock valued at $240,000 after acquiring an additional 1,868 shares during the last quarter. 94.80% of the stock is owned by hedge funds and other institutional investors.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd., together with its subsidiaries, provides location based telematics services and machine-to-machine telematics products. It operates through two segments, Telematics Services and Telematics Products. The Telematics services segment offers stolen vehicle recovery and tracking services, which enables to 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 locator services that allow customers to protect valuable merchandise and equipment.