Ituran Location and Control Ltd. (NASDAQ:ITRN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a $38.00 price objective on the industrial products company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.60% from the stock’s current price.

According to Zacks, “Ituran provides location-based services, consisting predominantly of stolen vehicle recovery and tracking services, as well as wireless communications products used in connection with its location-based services and various other applications. Ituran offers mobile asset location, Stolen Vehicle Recovery, management & control services for vehicles, cargo and personal security, and radio frequency identification products for various purposes including automatic meter reading, electronic toll collection and homeland security applications. “

Separately, BidaskClub upgraded Ituran Location and Control from a “hold” rating to a “buy” rating in a report on Saturday, July 8th.

Ituran Location and Control (NASDAQ ITRN) traded up 0.29% during mid-day trading on Wednesday, reaching $34.05. 62,787 shares of the company traded hands. The firm has a market capitalization of $713.96 million, a P/E ratio of 17.51 and a beta of 0.80. Ituran Location and Control has a 12-month low of $23.95 and a 12-month high of $36.95. The company’s 50 day moving average price is $32.29 and its 200 day moving average price is $31.23.

Ituran Location and Control (NASDAQ:ITRN) last released 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 company had revenue of $58.53 million for the quarter. Equities research analysts predict that Ituran Location and Control will post $1.74 EPS for the current year.

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A number of institutional investors have recently made changes to their positions in ITRN. FMR LLC grew its position in Ituran Location and Control by 5.0% in the 2nd quarter. FMR LLC now owns 1,305,753 shares of the industrial products company’s stock valued at $40,870,000 after acquiring an additional 61,724 shares during the last quarter. Advisor Group Inc. grew its position in Ituran Location and Control by 106,353.8% in the 2nd quarter. Advisor Group Inc. now owns 41,517 shares of the industrial products company’s stock valued at $1,300,000 after acquiring an additional 41,478 shares during the last quarter. Analyst IMS Investment Management Services Ltd. grew its position in Ituran Location and Control by 6.1% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 656,662 shares of the industrial products company’s stock valued at $20,553,000 after acquiring an additional 37,877 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in Ituran Location and Control in the 2nd quarter valued at $1,085,000. Finally, Lazard Asset Management LLC bought a new position in Ituran Location and Control in the 2nd quarter valued at $863,000. 51.75% of the stock is currently owned by institutional investors.

About Ituran Location and Control

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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