Ituran Location and Control Ltd. (NASDAQ:ITRN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $38.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.93% from the company’s current price.

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 upgraded shares of Ituran Location and Control from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 17th.

Shares of Ituran Location and Control (NASDAQ ITRN) opened at 33.95 on Wednesday. The stock has a 50 day moving average of $32.20 and a 200 day moving average of $31.19. The stock has a market cap of $711.86 million, a P/E ratio of 17.46 and a beta of 0.80. Ituran Location and Control has a one year low of $23.95 and a one year high of $36.95.

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

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Institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN grew its position in Ituran Location and Control by 30.8% in the 2nd quarter. Wells Fargo & Company MN now owns 4,579 shares of the industrial products company’s stock valued at $143,000 after buying an additional 1,078 shares in the last quarter. New York State Common Retirement Fund grew its position in Ituran Location and Control by 47.8% in the 2nd quarter. New York State Common Retirement Fund now owns 6,994 shares of the industrial products company’s stock valued at $219,000 after buying an additional 2,263 shares in the last quarter. ETF Managers Group LLC bought a new position in Ituran Location and Control in the 2nd quarter valued at about $228,000. Covey Capital Advisors LLC bought a new position in Ituran Location and Control in the 2nd quarter valued at about $252,000. Finally, California Public Employees Retirement System bought a new position in Ituran Location and Control in the 2nd quarter valued at about $344,000. Hedge funds and other institutional investors own 51.75% of the company’s stock.

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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