Ituran Location and Control (NASDAQ:ITRN) Stock Rating Upgraded by Wall Street Zen

Ituran Location and Control (NASDAQ:ITRN) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday.

Other equities analysts have also recently issued research reports about the stock. Zacks Research raised shares of Ituran Location and Control to a “hold” rating in a research report on Thursday, May 28th. Loop Capital set a $57.00 price objective on shares of Ituran Location and Control in a research report on Monday, March 9th. Barclays increased their price objective 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. UBS Group reaffirmed a “buy” rating on shares of Ituran Location and Control in a research report on Wednesday, May 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Ituran Location and Control in a research report on Friday, March 27th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $60.67.

Ituran Location and Control Stock Performance

NASDAQ:ITRN opened at $65.94 on Tuesday. The stock has a market capitalization of $1.31 billion, a P/E ratio of 21.76 and a beta of 0.77. The company has a 50 day moving average price of $56.05 and a 200 day moving average price of $48.47. Ituran Location and Control has a fifty-two week low of $32.71 and a fifty-two week high of $68.30.

Ituran Location and Control (NASDAQ:ITRN) last posted its quarterly earnings data on Tuesday, May 26th. The industrial products company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. The firm had revenue of $102.67 million during the quarter, compared to analysts’ expectations of $95.32 million. Ituran Location and Control had a net margin of 16.03% and a return on equity of 27.70%. Research analysts forecast that Ituran Location and Control will post 3.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ituran Location and Control

Several institutional investors have recently modified their holdings of the company. Ibex Investors LLC lifted its position in shares of Ituran Location and Control by 2.3% during the 3rd quarter. Ibex Investors LLC now owns 896,313 shares of the industrial products company’s stock worth $32,016,000 after purchasing an additional 20,000 shares during the last quarter. Y.D. More Investments Ltd lifted its position in shares of Ituran Location and Control by 3.8% during the 1st quarter. Y.D. More Investments Ltd now owns 891,274 shares of the industrial products company’s stock worth $43,681,000 after purchasing an additional 33,000 shares during the last quarter. GW&K Investment Management LLC lifted its position in shares of Ituran Location and Control by 909.3% during the 4th quarter. GW&K Investment Management LLC now owns 539,817 shares of the industrial products company’s stock worth $23,218,000 after purchasing an additional 486,331 shares during the last quarter. Rice Hall James & Associates LLC lifted its position in shares of Ituran Location and Control by 0.7% during the 1st quarter. Rice Hall James & Associates LLC now owns 531,854 shares of the industrial products company’s stock worth $26,066,000 after purchasing an additional 3,690 shares during the last quarter. Finally, River Road Asset Management LLC lifted its position in shares of Ituran Location and Control by 0.3% during the 4th quarter. River Road Asset Management LLC now owns 410,105 shares of the industrial products company’s stock worth $17,639,000 after purchasing an additional 1,370 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.