Ituran Location and Control (NASDAQ:ITRN) Sets New 52-Week High – Should You Buy?

Ituran Location and Control Ltd. (NASDAQ:ITRN)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $53.39 and last traded at $53.6130, with a volume of 50942 shares changing hands. The stock had previously closed at $51.48.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ITRN shares. Barclays lifted their price objective on shares of 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. Loop Capital set a $57.00 target price on shares of Ituran Location and Control in a report on Monday, March 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ituran Location and Control in a research note on Friday, March 27th. Wall Street Zen downgraded shares of Ituran Location and Control from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Maxim Group started coverage on shares of Ituran Location and Control in a research report on Thursday, March 12th. They issued a “buy” rating and a $70.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Ituran Location and Control presently has a consensus rating of “Buy” and an average price target of $60.67.

Ituran Location and Control Trading Up 4.2%

The company has a 50-day simple moving average of $48.51 and a 200 day simple moving average of $42.99. The company has a market cap of $1.07 billion, a P/E ratio of 18.44 and a beta of 0.66.

Ituran Location and Control (NASDAQ:ITRN) last issued its earnings results on Saturday, February 14th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter. The firm had revenue of $93.50 million during the quarter. 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Shareholders of record on Monday, March 30th will be given a $1.50 dividend. This is a positive change from Ituran Location and Control’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, March 30th. This represents a $6.00 annualized dividend and a yield of 11.2%. Ituran Location and Control’s dividend payout ratio is presently 206.19%.

Hedge Funds Weigh In On Ituran Location and Control

A number of institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC raised its stake in shares of Ituran Location and Control by 50.1% during the fourth quarter. Global Retirement Partners LLC now owns 656 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 219 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Ituran Location and Control by 14.0% in the 4th quarter. Assetmark Inc. now owns 1,950 shares of the industrial products company’s stock worth $84,000 after buying an additional 240 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Ituran Location and Control by 14.7% in the 4th quarter. Wells Fargo & Company MN now owns 2,548 shares of the industrial products company’s stock worth $110,000 after buying an additional 327 shares during the period. Four Tree Island Advisory LLC grew its position in shares of Ituran Location and Control by 0.5% during the 4th quarter. Four Tree Island Advisory LLC now owns 60,806 shares of the industrial products company’s stock worth $2,615,000 after buying an additional 330 shares in the last quarter. Finally, Natixis Advisors LLC grew its position in shares of Ituran Location and Control by 2.8% during the 3rd quarter. Natixis Advisors LLC now owns 12,054 shares of the industrial products company’s stock worth $431,000 after buying an additional 333 shares in the last quarter. 94.80% of the stock is owned by hedge funds and other 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.