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

Ituran Location and Control (NASDAQ:ITRN) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

A number of other brokerages have also issued reports on ITRN. Loop Capital set a $57.00 price target on shares of Ituran Location and Control in a research note on Monday, March 9th. Barclays raised their price objective on shares of Ituran Location and Control from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, March 5th. Weiss Ratings restated a “buy (b)” rating on shares of Ituran Location and Control in a report on Friday, March 27th. Finally, Maxim Group assumed coverage on shares of Ituran Location and Control in a research note on Thursday, March 12th. They set a “buy” rating and a $70.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Ituran Location and Control has an average rating of “Buy” and a consensus price target of $60.67.

Ituran Location and Control Price Performance

ITRN opened at $51.15 on Friday. Ituran Location and Control has a 52 week low of $30.06 and a 52 week high of $53.33. The business has a fifty day simple moving average of $48.24 and a 200-day simple moving average of $42.77. The firm has a market cap of $1.02 billion, a P/E ratio of 17.58 and a beta of 0.66.

Ituran Location and Control (NASDAQ:ITRN) last posted its quarterly earnings data on Saturday, February 14th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter. Ituran Location and Control had a return on equity of 27.27% and a net margin of 16.15%.The firm had revenue of $93.50 million for the quarter.

Institutional Trading of Ituran Location and Control

Large investors have recently made changes to their positions in the company. GW&K Investment Management LLC raised its holdings in Ituran Location and Control by 909.3% in the fourth quarter. GW&K Investment Management LLC now owns 539,817 shares of the industrial products company’s stock valued at $23,218,000 after acquiring an additional 486,331 shares in the last quarter. Nuveen LLC grew its holdings in Ituran Location and Control by 721.6% during the 4th quarter. Nuveen LLC now owns 104,190 shares of the industrial products company’s stock worth $4,481,000 after acquiring an additional 91,509 shares in the last quarter. Strategic Global Advisors LLC increased its position in shares of Ituran Location and Control by 106.4% in the 4th quarter. Strategic Global Advisors LLC now owns 132,325 shares of the industrial products company’s stock valued at $5,691,000 after purchasing an additional 68,222 shares during the last quarter. Man Group plc raised its holdings in shares of Ituran Location and Control by 90.8% in the 2nd quarter. Man Group plc now owns 137,657 shares of the industrial products company’s stock valued at $5,331,000 after purchasing an additional 65,502 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Ituran Location and Control by 71.1% in the 4th quarter. Millennium Management LLC now owns 125,478 shares of the industrial products company’s stock valued at $5,397,000 after purchasing an additional 52,150 shares in the last quarter. 94.80% of the stock is currently 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.