Ituran Location and Control Ltd. (ITRN) Given $34.20 Consensus Target Price by Brokerages

Ituran Location and Control Ltd. (NASDAQ:ITRN) has received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Analysts have set a 12-month consensus price objective of $34.20 for the company, according to Zacks. Zacks has also assigned Ituran Location and Control an industry rank of 54 out of 265 based on the ratings given to its competitors.

A number of equities research analysts recently commented on ITRN shares. BidaskClub raised Ituran Location and Control from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Zacks Investment Research raised Ituran Location and Control from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Tuesday, June 27th.

Shares of Ituran Location and Control (ITRN) traded up 1.25% during midday trading on Tuesday, hitting $36.40. The stock had a trading volume of 40,039 shares. Ituran Location and Control has a one year low of $23.95 and a one year high of $36.95. The firm’s 50-day moving average price is $32.44 and its 200-day moving average price is $31.32. The firm has a market capitalization of $763.24 million, a PE ratio of 18.71 and a beta of 0.80.

Ituran Location and Control (NASDAQ:ITRN) last released its earnings results on Wednesday, August 16th. The industrial products company reported $0.50 EPS for the quarter. The company had revenue of $58.53 million during the quarter. Ituran Location and Control had a return on equity of 36.12% and a net margin of 18.67%. On average, equities analysts predict that Ituran Location and Control will post $1.74 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Tuesday, September 19th will be paid a $0.24 dividend. The ex-dividend date is Monday, September 18th. This represents a $0.96 dividend on an annualized basis and a yield of 2.64%. Ituran Location and Control’s payout ratio is 49.23%.

A number of large investors have recently bought and sold shares of the business. FMR LLC grew its stake in Ituran Location and Control by 5.0% in the second quarter. FMR LLC now owns 1,305,753 shares of the industrial products company’s stock valued at $40,870,000 after acquiring an additional 61,724 shares during the period. Renaissance Technologies LLC grew its stake in Ituran Location and Control by 0.3% in the second quarter. Renaissance Technologies LLC now owns 1,128,700 shares of the industrial products company’s stock valued at $35,328,000 after acquiring an additional 3,800 shares during the period. Analyst IMS Investment Management Services Ltd. grew its stake in Ituran Location and Control by 6.1% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 656,662 shares of the industrial products company’s stock valued at $20,553,000 after acquiring an additional 37,877 shares during the period. Sphera Funds Management LTD. grew its stake in Ituran Location and Control by 8.2% in the second quarter. Sphera Funds Management LTD. now owns 304,421 shares of the industrial products company’s stock valued at $9,528,000 after acquiring an additional 23,065 shares during the period. Finally, Rice Hall James & Associates LLC grew its stake in Ituran Location and Control by 23.0% in the second quarter. Rice Hall James & Associates LLC now owns 134,755 shares of the industrial products company’s stock valued at $4,218,000 after acquiring an additional 25,194 shares during the period. 51.75% of the stock is owned by hedge funds and other institutional investors.

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About Ituran Location and Control

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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