BidaskClub Lowers Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) to Strong Sell

BidaskClub cut shares of Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) from a sell rating to a strong sell rating in a research note released on Wednesday morning, BidAskClub reports.

ITRN has been the topic of several other research reports. Zacks Investment Research cut shares of Ituran Location and Control Ltd. (US) from a hold rating to a sell rating in a report on Saturday, April 27th. Barclays set a $39.00 target price on Ituran Location and Control Ltd. (US) and gave the company a buy rating in a research note on Thursday, May 23rd.

Ituran Location and Control Ltd. (US) stock opened at $31.55 on Wednesday. The firm has a market capitalization of $671.19 million, a PE ratio of 12.88, a PEG ratio of 0.71 and a beta of 0.93. Ituran Location and Control Ltd. has a fifty-two week low of $29.25 and a fifty-two week high of $38.50. The company has a current ratio of 1.83, a quick ratio of 1.55 and a debt-to-equity ratio of 0.40.

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) last released its quarterly earnings results on Tuesday, May 21st. The industrial products company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.17). The firm had revenue of $73.60 million during the quarter, compared to the consensus estimate of $86.76 million. Ituran Location and Control Ltd. (US) had a return on equity of 32.82% and a net margin of 23.24%. As a group, sell-side analysts anticipate that Ituran Location and Control Ltd. will post 2.75 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Thursday, June 20th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Wednesday, June 19th. This is a boost from Ituran Location and Control Ltd. (US)’s previous quarterly dividend of $0.23. Ituran Location and Control Ltd. (US)’s dividend payout ratio is currently 37.55%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ITRN. Noked Capital LTD bought a new position in Ituran Location and Control Ltd. (US) in the fourth quarter valued at $14,942,000. Delek Group Ltd. increased its stake in Ituran Location and Control Ltd. (US) by 73.2% in the first quarter. Delek Group Ltd. now owns 471,936 shares of the industrial products company’s stock valued at $16,138,000 after acquiring an additional 199,523 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in Ituran Location and Control Ltd. (US) by 48.7% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 439,622 shares of the industrial products company’s stock valued at $15,112,000 after acquiring an additional 143,920 shares during the last quarter. Sphera Funds Management LTD. bought a new position in Ituran Location and Control Ltd. (US) in the fourth quarter valued at $14,637,000. Finally, Segall Bryant & Hamill LLC bought a new position in Ituran Location and Control Ltd. (US) in the fourth quarter valued at $2,284,000. 61.08% of the stock is currently owned by institutional investors and hedge funds.

About Ituran Location and Control Ltd. (US)

Ituran Location and Control Ltd., together with its subsidiaries, provides location-based services and wireless communications products in Israel, Brazil, Argentina, and the United States. The company's Location-Based Services segment provides stolen vehicle recovery and tracking services, which locate, track, and recover stolen vehicles for its subscribers; fleet management services that enable corporate and individual customers to track and manage their vehicles in real time; and personal locator services that allow customers to protect valuable merchandise and equipment.

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