Ituran Location and Control Ltd. (NASDAQ:ITRN) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) have received a consensus rating of “Moderate Buy” from the five analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $60.6667.

Several research firms recently issued reports on ITRN. Zacks Research raised shares of Ituran Location and Control to a “hold” rating in a report on Thursday, May 28th. Barclays upped their price target on shares of Ituran Location and Control from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. UBS Group reaffirmed a “buy” rating on shares of Ituran Location and Control in a report on Wednesday, May 27th. Wall Street Zen upgraded shares of Ituran Location and Control from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Maxim Group initiated coverage on shares of Ituran Location and Control in a research note on Thursday, March 12th. They set a “buy” rating and a $70.00 target price for the company.

Institutional Trading of Ituran Location and Control

Several institutional investors have recently added to or reduced their stakes in ITRN. GW&K Investment Management LLC increased its stake in Ituran Location and Control by 909.3% during the fourth quarter. GW&K Investment Management LLC now owns 539,817 shares of the industrial products company’s stock valued at $23,218,000 after purchasing an additional 486,331 shares during the last quarter. Nuveen LLC increased its stake in Ituran Location and Control by 721.6% during the fourth quarter. Nuveen LLC now owns 104,190 shares of the industrial products company’s stock valued at $4,481,000 after purchasing an additional 91,509 shares during the last quarter. Strategic Global Advisors LLC increased its stake in Ituran Location and Control by 106.4% during the fourth quarter. Strategic Global Advisors LLC now owns 132,325 shares of the industrial products company’s stock valued at $5,691,000 after purchasing an additional 68,222 shares during the last quarter. Man Group plc increased its stake in Ituran Location and Control by 90.8% during the second quarter. Man Group plc now owns 137,657 shares of the industrial products company’s stock valued at $5,331,000 after purchasing an additional 65,502 shares during the last quarter. Finally, Millennium Management LLC increased its stake in Ituran Location and Control by 71.1% during the fourth quarter. Millennium Management LLC now owns 125,478 shares of the industrial products company’s stock valued at $5,397,000 after purchasing an additional 52,150 shares during the last quarter. Institutional investors own 94.80% of the company’s stock.

Ituran Location and Control Price Performance

ITRN opened at $63.05 on Friday. The stock has a market capitalization of $1.25 billion, a PE ratio of 20.81 and a beta of 0.77. The firm’s fifty day moving average price is $57.18 and its 200 day moving average price is $49.17. Ituran Location and Control has a 12-month low of $32.71 and a 12-month high of $68.30.

Ituran Location and Control (NASDAQ:ITRN) last posted its quarterly earnings results on Tuesday, May 26th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.05. The firm had revenue of $102.67 million for the quarter, compared to analysts’ expectations of $95.32 million. Ituran Location and Control had a net margin of 16.03% and a return on equity of 27.70%. On average, equities research analysts forecast that Ituran Location and Control will post 3.5 earnings per share for the current fiscal year.

Ituran Location and Control Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, June 24th. This represents a $2.00 annualized dividend and a yield of 3.2%. Ituran Location and Control’s payout ratio is presently 198.02%.

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.