Zacks: Ituran Location and Control Ltd. (ITRN) Receives Consensus Rating of “Strong Buy” from Analysts
Ituran Location and Control Ltd. (NASDAQ:ITRN) has been given an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Analysts have set a one year consensus target price of $34.20 for the company, according to Zacks. Zacks has also assigned Ituran Location and Control an industry rank of 59 out of 265 based on the ratings given to related companies.
Several research analysts have recently weighed in on ITRN shares. Zacks Investment Research cut Ituran Location and Control from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub cut Ituran Location and Control from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th.
A number of hedge funds have recently bought and sold shares of ITRN. Wells Fargo & Company MN boosted its stake in Ituran Location and Control by 30.8% in the second quarter. Wells Fargo & Company MN now owns 4,579 shares of the industrial products company’s stock worth $143,000 after buying an additional 1,078 shares during the period. New York State Common Retirement Fund boosted its stake in Ituran Location and Control by 47.8% in the second quarter. New York State Common Retirement Fund now owns 6,994 shares of the industrial products company’s stock worth $219,000 after buying an additional 2,263 shares during the period. ETF Managers Group LLC purchased a new stake in Ituran Location and Control during the second quarter worth approximately $228,000. Covey Capital Advisors LLC purchased a new stake in Ituran Location and Control during the second quarter worth approximately $252,000. Finally, California Public Employees Retirement System purchased a new stake in Ituran Location and Control during the second quarter worth approximately $344,000. Institutional investors own 52.11% of the company’s stock.
Ituran Location and Control (ITRN) traded up 3.93% during midday trading on Friday, reaching $33.05. The company had a trading volume of 43,771 shares. Ituran Location and Control has a 12-month low of $23.95 and a 12-month high of $36.95. The company has a 50-day moving average of $31.03 and a 200-day moving average of $30.48. The stock has a market capitalization of $692.99 million, a PE ratio of 16.99 and a beta of 0.80.
Ituran Location and Control (NASDAQ:ITRN) last posted its quarterly earnings results on Wednesday, August 16th. The industrial products company reported $0.50 earnings per share for the quarter. Ituran Location and Control had a return on equity of 36.12% and a net margin of 18.67%. The firm had revenue of $58.53 million during the quarter. On average, analysts predict that Ituran Location and Control will post $1.74 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Tuesday, September 19th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Monday, September 18th. Ituran Location and Control’s dividend payout ratio (DPR) is presently 49.23%.
Ituran Location and Control Company Profile
Ituran Location and Control Ltd. is a provider of location-based services, consisting of stolen vehicle recovery (SVR), fleet management services and other tracking services. The Company also provides wireless communication products used in connection with its location-based services and various other applications.
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