Ituran Location and Control Ltd. (NASDAQ:ITRN) was downgraded by analysts at Telsey Advisory Group from an “outperform” rating to a “market perform” rating in a research note issued to investors on Friday. They currently have a $36.00 price objective on the industrial products company’s stock. Telsey Advisory Group’s price target suggests a potential upside of 0.14% from the company’s previous close.

Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Ituran Location and Control from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Tuesday, August 22nd. Chardan Capital cut Ituran Location and Control from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a report on Friday.

Shares of Ituran Location and Control (NASDAQ:ITRN) traded down $0.15 during mid-day trading on Friday, hitting $35.95. The company had a trading volume of 27,623 shares, compared to its average volume of 32,931. Ituran Location and Control has a twelve month low of $24.10 and a twelve month high of $38.00. The company has a market cap of $753.80, a P/E ratio of 18.39 and a beta of 0.83.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings data 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 business had revenue of $58.53 million during the quarter. sell-side analysts anticipate that Ituran Location and Control will post 2.09 EPS for the current fiscal year.

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A number of institutional investors and hedge funds have recently modified their holdings of ITRN. Wells Fargo & Company MN increased its stake 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 valued at $143,000 after buying an additional 1,078 shares during the period. New York State Common Retirement Fund increased its stake 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 valued at $219,000 after buying an additional 2,263 shares during the period. ETF Managers Group LLC acquired a new stake in shares of Ituran Location and Control in the second quarter valued at about $228,000. Covey Capital Advisors LLC acquired a new stake in shares of Ituran Location and Control in the second quarter valued at about $252,000. Finally, California Public Employees Retirement System acquired a new stake in shares of Ituran Location and Control in the second quarter valued at about $344,000. 51.60% of the stock is owned by institutional investors and hedge funds.

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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