Ituran Location and Control Ltd. (ITRN) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) from a buy rating to a hold rating in a report issued on Tuesday morning.

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. “

Separately, BidaskClub raised Ituran Location and Control from a hold rating to a buy rating in a research note on Saturday, July 8th.

Shares of Ituran Location and Control (ITRN) traded up 0.29% during midday trading on Tuesday, hitting $34.05. The company’s stock had a trading volume of 62,787 shares. Ituran Location and Control has a 1-year low of $23.95 and a 1-year high of $36.95. The company has a 50-day moving average price of $32.29 and a 200 day moving average price of $31.23. The company has a market cap of $713.96 million, a P/E ratio of 17.51 and a beta of 0.80.

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 (EPS) for the quarter. The company had revenue of $58.53 million for the quarter. Ituran Location and Control had a return on equity of 36.12% and a net margin of 18.67%. On average, equities research analysts predict that Ituran Location and Control will post $1.74 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Tuesday, September 19th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Monday, September 18th. Ituran Location and Control’s dividend payout ratio (DPR) is currently 49.23%.

A number of hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its stake in Ituran Location and Control by 30.8% during the 2nd quarter. Wells Fargo & Company MN now owns 4,579 shares of the industrial products company’s stock worth $143,000 after buying an additional 1,078 shares during the period. New York State Common Retirement Fund raised its stake in Ituran Location and Control by 47.8% during the 2nd quarter. New York State Common Retirement Fund now owns 6,994 shares of the industrial products company’s stock worth $219,000 after buying an additional 2,263 shares during the period. Royal Bank of Canada raised its stake in Ituran Location and Control by 33.9% during the 2nd quarter. Royal Bank of Canada now owns 11,031 shares of the industrial products company’s stock worth $345,000 after buying an additional 2,795 shares during the period. Eagle Global Advisors LLC raised its stake in Ituran Location and Control by 14.3% during the 2nd quarter. Eagle Global Advisors LLC now owns 27,896 shares of the industrial products company’s stock worth $873,000 after buying an additional 3,500 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Ituran Location and Control by 0.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,128,700 shares of the industrial products company’s stock worth $35,328,000 after buying an additional 3,800 shares during the period. 51.75% of the stock is currently 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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