Ituran Location and Control (NASDAQ:ITRN) Sets New 1-Year High – Should You Buy?

Ituran Location and Control Ltd. (NASDAQ:ITRN) hit a new 52-week high on Monday . The company traded as high as $51.36 and last traded at $50.3280, with a volume of 38020 shares changing hands. The stock had previously closed at $49.70.

Wall Street Analyst Weigh In

Several analysts have issued reports on ITRN shares. Barclays upped their target price on Ituran Location and Control from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Maxim Group initiated coverage on shares of Ituran Location and Control in a research note on Thursday, March 12th. They issued a “buy” rating and a $70.00 price objective for the company. Wall Street Zen raised shares of Ituran Location and Control from a “buy” rating to a “strong-buy” rating in a report on Sunday. Weiss Ratings reissued a “buy (b)” rating on shares of Ituran Location and Control in a research note on Monday, December 29th. Finally, Loop Capital set a $57.00 price objective on Ituran Location and Control in a research note on Monday, March 9th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $60.67.

Ituran Location and Control Trading Up 0.7%

The business’s 50 day moving average price is $46.60 and its two-hundred day moving average price is $41.31. The stock has a market cap of $1.01 billion, a P/E ratio of 17.46 and a beta of 0.68.

Ituran Location and Control (NASDAQ:ITRN) last released its quarterly earnings results on Thursday, March 5th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The company had revenue of $93.50 million during the quarter, compared to the consensus estimate of $93.30 million. Ituran Location and Control had a net margin of 16.15% and a return on equity of 27.27%.

Ituran Location and Control Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Monday, March 30th will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, March 30th. This represents a $6.00 annualized dividend and a dividend yield of 11.8%. This is an increase from Ituran Location and Control’s previous quarterly dividend of $0.50. Ituran Location and Control’s dividend payout ratio is currently 68.73%.

Institutional Investors Weigh In On Ituran Location and Control

Several hedge funds have recently made changes to their positions in ITRN. Caitong International Asset Management Co. Ltd grew its holdings in Ituran Location and Control by 257.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 629 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 453 shares during the period. River Road Asset Management LLC raised its holdings in Ituran Location and Control by 0.3% during the fourth quarter. River Road Asset Management LLC now owns 410,105 shares of the industrial products company’s stock valued at $17,639,000 after acquiring an additional 1,370 shares during the period. Mackenzie Financial Corp purchased a new position in Ituran Location and Control in the 4th quarter worth approximately $273,000. Millennium Management LLC lifted its holdings in shares of Ituran Location and Control by 71.1% in the fourth quarter. Millennium Management LLC now owns 125,478 shares of the industrial products company’s stock worth $5,397,000 after buying an additional 52,150 shares in the last quarter. Finally, Man Group plc lifted its stake in Ituran Location and Control by 62.9% in the 4th quarter. Man Group plc now owns 76,345 shares of the industrial products company’s stock worth $3,284,000 after purchasing an additional 29,485 shares in the last quarter. 94.80% of the stock is currently owned by institutional investors.

Ituran Location and Control Company Profile

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.