Ituran Location and Control (NASDAQ:ITRN) Cut to Buy at Wall Street Zen

Ituran Location and Control (NASDAQ:ITRN) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday.

A number of other brokerages have also recently weighed in on ITRN. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ituran Location and Control in a research report on Friday, March 27th. Maxim Group initiated coverage on shares of Ituran Location and Control in a research report on Thursday, March 12th. They set a “buy” rating and a $70.00 price target for the company. Barclays upped their price target on shares of Ituran Location and Control from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. Finally, Loop Capital set a $57.00 price target on shares of Ituran Location and Control in a research report on Monday, March 9th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $60.67.

Ituran Location and Control Stock Performance

Shares of Ituran Location and Control stock opened at $60.11 on Monday. The company has a fifty day moving average price of $54.46 and a 200 day moving average price of $47.40. Ituran Location and Control has a twelve month low of $32.71 and a twelve month high of $62.31. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 20.66 and a beta of 0.73.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings results on Saturday, February 14th. The industrial products company reported $0.77 earnings per share for the quarter. Ituran Location and Control had a net margin of 16.15% and a return on equity of 27.27%. The firm had revenue of $93.50 million during the quarter.

Hedge Funds Weigh In On Ituran Location and Control

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its position in Ituran Location and Control by 50.1% in the 4th quarter. Global Retirement Partners LLC now owns 656 shares of the industrial products company’s stock valued at $28,000 after buying an additional 219 shares during the last quarter. Values First Advisors Inc. lifted its position in shares of Ituran Location and Control by 2.1% during the first quarter. Values First Advisors Inc. now owns 11,217 shares of the industrial products company’s stock worth $550,000 after purchasing an additional 234 shares during the last quarter. Assetmark Inc. lifted its position in shares of Ituran Location and Control by 14.0% during the fourth quarter. Assetmark Inc. now owns 1,950 shares of the industrial products company’s stock worth $84,000 after purchasing an additional 240 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Ituran Location and Control by 14.7% during the fourth quarter. Wells Fargo & Company MN now owns 2,548 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 327 shares during the last quarter. Finally, Four Tree Island Advisory LLC lifted its position in shares of Ituran Location and Control by 0.5% during the fourth quarter. Four Tree Island Advisory LLC now owns 60,806 shares of the industrial products company’s stock worth $2,615,000 after purchasing an additional 330 shares during the last quarter. 94.80% of the stock is owned by hedge funds and other institutional investors.

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.