Ituran Location and Control (NASDAQ:ITRN) Shares Gap Down – Time to Sell?

Ituran Location and Control Ltd. (NASDAQ:ITRN)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $39.24, but opened at $37.50. Ituran Location and Control shares last traded at $36.61, with a volume of 60,652 shares traded.

Wall Street Analyst Weigh In

Separately, Barclays lifted their target price on shares of Ituran Location and Control from $35.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th.

Ituran Location and Control Trading Down 7.3%

The stock has a market cap of $723.64 million, a P/E ratio of 13.87 and a beta of 0.80. The stock’s fifty day moving average price is $35.42 and its 200 day moving average price is $34.05.

Ituran Location and Control (NASDAQ:ITRN) last released its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.70 by $0.03. The firm had revenue of $86.46 million during the quarter, compared to analyst estimates of $88.47 million. Ituran Location and Control had a net margin of 15.65% and a return on equity of 28.31%.

Institutional Trading of Ituran Location and Control

Institutional investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership lifted its position in Ituran Location and Control by 26.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 274,562 shares of the industrial products company’s stock worth $8,553,000 after buying an additional 56,956 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Ituran Location and Control in the fourth quarter worth $207,000. Four Tree Island Advisory LLC bought a new stake in Ituran Location and Control in the fourth quarter worth $920,000. Raymond James Financial Inc. bought a new stake in Ituran Location and Control in the fourth quarter worth $2,718,000. Finally, Van ECK Associates Corp lifted its position in shares of Ituran Location and Control by 11.3% during the fourth quarter. Van ECK Associates Corp now owns 3,871 shares of the industrial products company’s stock worth $121,000 after purchasing an additional 392 shares during the last quarter. 94.80% of the stock is currently owned by 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.