Ituran Location and Control Ltd. (NASDAQ:ITRN) was downgraded by Chardan Capital from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday. They presently have a $36.00 price target on the industrial products company’s stock. Chardan Capital’s price objective would suggest a potential downside of 0.28% from the stock’s previous close.

A number of other analysts have also recently issued reports on ITRN. BidaskClub cut Ituran Location and Control from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Zacks Investment Research cut Ituran Location and Control from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th.

Shares of Ituran Location and Control (NASDAQ:ITRN) opened at $36.10 on Friday. The stock has a market capitalization of $754.85, a price-to-earnings ratio of 17.48 and a beta of 0.83. Ituran Location and Control has a 12-month low of $24.10 and a 12-month high of $38.00.

Ituran Location and Control (NASDAQ:ITRN) last released its quarterly earnings data on Wednesday, August 16th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter. The firm had revenue of $58.53 million during the quarter. Ituran Location and Control had a return on equity of 37.19% and a net margin of 18.99%. equities research analysts anticipate that Ituran Location and Control will post 2.09 earnings per share for the current fiscal year.

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Several large investors have recently made changes to their positions in ITRN. Wells Fargo & Company MN lifted its position in shares of 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 last quarter. New York State Common Retirement Fund lifted its position in shares of 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 last quarter. ETF Managers Group LLC acquired a new stake in shares of Ituran Location and Control in the second quarter worth about $228,000. Covey Capital Advisors LLC acquired a new stake in shares of Ituran Location and Control in the second quarter worth about $252,000. Finally, California Public Employees Retirement System acquired a new stake in shares of Ituran Location and Control in the second quarter worth about $344,000. 51.60% of the stock is 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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