Ituran Location and Control Ltd. (US) (ITRN) Cut to Hold at Zacks Investment Research

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

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. “

Other equities analysts have also recently issued research reports about the stock. BidaskClub raised shares of Ituran Location and Control Ltd. (US) from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. Telsey Advisory Group cut shares of Ituran Location and Control Ltd. (US) from an “outperform” rating to a “market perform” rating and set a $36.00 target price on the stock. in a research note on Friday, November 17th. Finally, Chardan Capital cut shares of Ituran Location and Control Ltd. (US) from a “buy” rating to a “neutral” rating and set a $36.00 target price on the stock. in a research note on Friday, November 17th.

Ituran Location and Control Ltd. (NASDAQ:ITRN) traded up $1.30 during trading on Friday, reaching $35.05. 36,538 shares of the company’s stock traded hands, compared to its average volume of 31,200. The firm has a market cap of $734.93, a PE ratio of 17.97 and a beta of 0.82. Ituran Location and Control Ltd. has a 52-week low of $26.50 and a 52-week high of $38.00.

A number of institutional investors have recently added to or reduced their stakes in ITRN. Simcoe Capital Management LLC grew its stake in shares of Ituran Location and Control Ltd. (US) by 635.8% in the 3rd quarter. Simcoe Capital Management LLC now owns 625,365 shares of the industrial products company’s stock worth $22,544,000 after purchasing an additional 540,372 shares during the last quarter. FMR LLC grew its stake in shares of Ituran Location and Control Ltd. (US) by 5.0% in the 2nd quarter. FMR LLC now owns 1,305,753 shares of the industrial products company’s stock worth $40,870,000 after purchasing an additional 61,724 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Ituran Location and Control Ltd. (US) by 543.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 63,461 shares of the industrial products company’s stock worth $2,287,000 after purchasing an additional 53,604 shares during the last quarter. Advisor Group Inc. grew its stake in shares of Ituran Location and Control Ltd. (US) by 106,353.8% in the 2nd quarter. Advisor Group Inc. now owns 41,517 shares of the industrial products company’s stock worth $1,300,000 after purchasing an additional 41,478 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Ituran Location and Control Ltd. (US) in the 2nd quarter worth approximately $1,085,000. 51.63% of the stock is currently owned by hedge funds and other institutional investors.

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Ituran Location and Control Ltd. (US) 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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