Barclays Issues Positive Forecast for Ituran Location and Control (NASDAQ:ITRN) Stock Price

Ituran Location and Control (NASDAQ:ITRN) had its target price raised by Barclays from $35.00 to $50.00 in a research report report published on Thursday,Benzinga reports. Barclays currently has an overweight rating on the industrial products company’s stock.

Ituran Location and Control Trading Down 2.6 %

Shares of NASDAQ:ITRN opened at $42.78 on Thursday. The firm’s 50 day moving average is $33.83 and its two-hundred day moving average is $29.99. The firm has a market capitalization of $851.07 million, a P/E ratio of 16.39 and a beta of 1.15. Ituran Location and Control has a 52 week low of $24.12 and a 52 week high of $45.43.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $82.88 million during the quarter, compared to analyst estimates of $81.81 million. Ituran Location and Control had a return on equity of 28.31% and a net margin of 15.65%.

Ituran Location and Control Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This is a boost from Ituran Location and Control’s previous quarterly dividend of $0.39. This represents a $2.00 annualized dividend and a dividend yield of 4.68%. Ituran Location and Control’s dividend payout ratio (DPR) is 59.77%.

Institutional Investors Weigh In On Ituran Location and Control

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ITRN. Van ECK Associates Corp increased its position in shares of Ituran Location and Control by 11.3% during the 4th quarter. Van ECK Associates Corp now owns 3,871 shares of the industrial products company’s stock valued at $121,000 after purchasing an additional 392 shares during the period. Blue Trust Inc. boosted its stake in Ituran Location and Control by 63.4% during the third quarter. Blue Trust Inc. now owns 1,541 shares of the industrial products company’s stock valued at $38,000 after buying an additional 598 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Ituran Location and Control by 7.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,629 shares of the industrial products company’s stock worth $923,000 after acquiring an additional 2,075 shares during the period. XTX Topco Ltd raised its position in Ituran Location and Control by 10.5% in the fourth quarter. XTX Topco Ltd now owns 22,256 shares of the industrial products company’s stock worth $693,000 after acquiring an additional 2,106 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its holdings in Ituran Location and Control by 20.3% in the 4th quarter. CWA Asset Management Group LLC now owns 12,708 shares of the industrial products company’s stock valued at $396,000 after acquiring an additional 2,144 shares during the last quarter. Institutional investors own 94.80% of the company’s stock.

About Ituran Location and Control

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.