Ituran Location and Control Ltd. (US) (ITRN) Receives Average Recommendation of “Strong Buy” from Analysts

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Analysts have set a twelve-month consensus price target of $39.00 for the company and are expecting that the company will post $0.46 EPS for the current quarter, according to Zacks. Zacks has also given Ituran Location and Control Ltd. (US) an industry rank of 82 out of 255 based on the ratings given to related companies.

ITRN has been the subject of a number of recent research reports. BidaskClub raised shares of Ituran Location and Control Ltd. (US) from a “sell” rating to a “hold” rating in a research note on Friday, June 1st. Jefferies Financial Group initiated coverage on shares of Ituran Location and Control Ltd. (US) in a research note on Friday, July 20th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Zacks Investment Research raised shares of Ituran Location and Control Ltd. (US) from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Thursday, September 20th.

Ituran Location and Control Ltd. (US) stock traded up $0.30 during mid-day trading on Friday, reaching $34.55. The company had a trading volume of 31,347 shares, compared to its average volume of 49,148. Ituran Location and Control Ltd. has a 1 year low of $29.25 and a 1 year high of $38.00. The stock has a market cap of $802.86 million, a PE ratio of 16.53, a price-to-earnings-growth ratio of 1.37 and a beta of 0.91.

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) last issued its quarterly earnings data on Thursday, August 30th. The industrial products company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.08. Ituran Location and Control Ltd. (US) had a net margin of 17.91% and a return on equity of 32.97%. The business had revenue of $57.72 million during the quarter, compared to analysts’ expectations of $59.92 million. research analysts predict that Ituran Location and Control Ltd. will post 2.08 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 10th. Shareholders of record on Wednesday, September 26th will be paid a $0.24 dividend. The ex-dividend date is Tuesday, September 25th. This represents a $0.96 annualized dividend and a yield of 2.78%. Ituran Location and Control Ltd. (US)’s payout ratio is currently 45.93%.

Hedge funds have recently added to or reduced their stakes in the business. Delek Group Ltd. boosted its holdings in shares of Ituran Location and Control Ltd. (US) by 28.5% in the 2nd quarter. Delek Group Ltd. now owns 196,415 shares of the industrial products company’s stock valued at $6,008,000 after purchasing an additional 43,613 shares during the last quarter. Vulcan Value Partners LLC boosted its holdings in shares of Ituran Location and Control Ltd. (US) by 27.7% in the 2nd quarter. Vulcan Value Partners LLC now owns 2,702,061 shares of the industrial products company’s stock valued at $82,008,000 after purchasing an additional 586,393 shares during the last quarter. FMR LLC boosted its holdings in shares of Ituran Location and Control Ltd. (US) by 11.9% in the 2nd quarter. FMR LLC now owns 1,987,713 shares of the industrial products company’s stock valued at $60,327,000 after purchasing an additional 211,975 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Ituran Location and Control Ltd. (US) by 0.9% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 361,659 shares of the industrial products company’s stock valued at $11,063,000 after purchasing an additional 3,321 shares during the last quarter. Finally, Citadel Advisors LLC boosted its holdings in shares of Ituran Location and Control Ltd. (US) by 31.0% in the 2nd quarter. Citadel Advisors LLC now owns 31,522 shares of the industrial products company’s stock valued at $957,000 after purchasing an additional 7,458 shares during the last quarter. 52.11% of the stock is owned by hedge funds and other institutional investors.

About Ituran Location and Control Ltd. (US)

Ituran Location and Control Ltd., together with its subsidiaries, provides location-based services and wireless communications products in Israel, Brazil, Argentina, and the United States. The company's Location-Based Services segment provides stolen vehicle recovery and tracking services, which 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 personal locator services that allow customers to protect valuable merchandise and equipment.

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