Ituran Location and Control Ltd. (NASDAQ:ITRN) Short Interest Update

Ituran Location and Control Ltd. (NASDAQ:ITRN) saw a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 146,207 shares, a decrease of 19.8% from the February 12th total of 182,310 shares. Based on an average daily volume of 64,831 shares, the short-interest ratio is presently 2.3 days. Based on an average daily volume of 64,831 shares, the short-interest ratio is presently 2.3 days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. CWA Asset Management Group LLC grew its stake in shares of Ituran Location and Control by 212.5% in the 3rd quarter. CWA Asset Management Group LLC now owns 58,864 shares of the industrial products company’s stock worth $2,103,000 after purchasing an additional 40,027 shares during the last quarter. Aristides Capital LLC raised its holdings in shares of Ituran Location and Control by 11.9% in the 2nd quarter. Aristides Capital LLC now owns 229,974 shares of the industrial products company’s stock worth $8,907,000 after purchasing an additional 24,370 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Ituran Location and Control by 19.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 64,122 shares of the industrial products company’s stock valued at $2,483,000 after purchasing an additional 10,579 shares during the last quarter. Boston Partners lifted its stake in Ituran Location and Control by 67.0% during the second quarter. Boston Partners now owns 11,796 shares of the industrial products company’s stock valued at $457,000 after purchasing an additional 4,731 shares during the last quarter. Finally, CSM Advisors LLC boosted its holdings in Ituran Location and Control by 30.2% during the third quarter. CSM Advisors LLC now owns 125,435 shares of the industrial products company’s stock worth $4,480,000 after buying an additional 29,090 shares in the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ITRN. Weiss Ratings reissued a “buy (b)” rating on shares of Ituran Location and Control in a research note on Monday, December 29th. Barclays upped their target price on shares of Ituran Location and Control from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Loop Capital set a $57.00 target price on shares of Ituran Location and Control in a report on Monday, March 9th. Wall Street Zen upgraded shares of Ituran Location and Control from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Finally, Maxim Group began coverage on Ituran Location and Control in a research report on Thursday, March 12th. They set a “buy” rating and a $70.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ituran Location and Control has an average rating of “Buy” and an average target price of $60.67.

Ituran Location and Control Stock Performance

Shares of NASDAQ:ITRN traded up $0.54 during trading hours on Tuesday, hitting $50.98. The stock had a trading volume of 96,814 shares, compared to its average volume of 94,518. The stock’s fifty day simple moving average is $46.60 and its 200 day simple moving average is $41.31. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 17.52 and a beta of 0.68. Ituran Location and Control has a 1-year low of $30.06 and a 1-year high of $51.58.

Ituran Location and Control (NASDAQ:ITRN) last issued its quarterly earnings data on Thursday, March 5th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.01. Ituran Location and Control had a return on equity of 27.27% and a net margin of 16.15%.The business had revenue of $93.50 million during the quarter, compared to the consensus estimate of $93.30 million.

Ituran Location and Control Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Monday, March 30th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 30th. This is a positive change from Ituran Location and Control’s previous quarterly dividend of $0.50. This represents a $6.00 annualized dividend and a dividend yield of 11.8%. Ituran Location and Control’s dividend payout ratio (DPR) is currently 68.73%.

About Ituran Location and Control

Ituran Location and Control Ltd. is a provider of wireless vehicle tracking and stolen vehicle recovery services. The company leverages a combination of cellular and global positioning system (GPS) technologies to offer real-time monitoring and location-based solutions for private vehicle owners, fleet operators and insurance companies. Its core offerings include subscription-based tracking devices, centralized control centers and software platforms that enable clients to detect unauthorized vehicle use, dispatch recovery teams and manage fleet logistics.

Founded in 1994 in Israel, Ituran pioneered the use of wireless communications for security and telematics applications.