Ituran Location and Control (NASDAQ:ITRN) Rating Lowered to “Hold” at Wall Street Zen

Ituran Location and Control (NASDAQ:ITRN) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Ituran Location and Control in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Ituran Location and Control currently has an average rating of “Buy” and an average price target of $50.00.

Ituran Location and Control Stock Up 2.0%

ITRN stock opened at $38.25 on Friday. The firm has a market cap of $745.81 million, a PE ratio of 13.71 and a beta of 0.87. The business has a 50 day moving average of $35.81 and a 200-day moving average of $36.87. Ituran Location and Control has a 12-month low of $26.46 and a 12-month high of $45.43.

Ituran Location and Control (NASDAQ:ITRN) last released its earnings results on Tuesday, August 19th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.06). Ituran Location and Control had a net margin of 16.35% and a return on equity of 28.24%. The business had revenue of $86.79 million during the quarter, compared to the consensus estimate of $89.17 million.

Hedge Funds Weigh In On Ituran Location and Control

Large investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas bought a new position in shares of Ituran Location and Control in the first quarter worth $262,000. Invst LLC purchased a new stake in shares of Ituran Location and Control in the first quarter worth $398,000. Foundations Investment Advisors LLC raised its position in shares of Ituran Location and Control by 130.7% in the first quarter. Foundations Investment Advisors LLC now owns 16,667 shares of the industrial products company’s stock worth $603,000 after buying an additional 9,442 shares in the last quarter. IFG Advisory LLC purchased a new stake in shares of Ituran Location and Control in the first quarter worth $1,335,000. Finally, Blair William & Co. IL raised its position in shares of Ituran Location and Control by 43.6% in the first quarter. Blair William & Co. IL now owns 13,280 shares of the industrial products company’s stock worth $480,000 after buying an additional 4,030 shares in the last quarter. 94.80% of the stock is owned by institutional investors.

About Ituran Location and Control

Ituran Location and Control Ltd., together with its subsidiaries, provides location based telematics services and machine-to-machine telematics products. It operates through two segments, Telematics Services and Telematics Products. The Telematics services segment offers stolen vehicle recovery and tracking services, which enables to 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 locator services that allow customers to protect valuable merchandise and equipment.