Ituran Location and Control (NASDAQ:ITRN) Upgraded to Strong-Buy at Wall Street Zen

Ituran Location and Control (NASDAQ:ITRN) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Sunday.

Several other equities analysts have also weighed in on ITRN. Weiss Ratings reissued a “buy (b)” rating on shares of Ituran Location and Control in a report on Monday, December 29th. Maxim Group began coverage on Ituran Location and Control in a research report on Thursday. They set a “buy” rating and a $70.00 price target on the stock. Barclays increased their price target 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. Finally, Loop Capital set a $57.00 price objective on Ituran Location and Control in a report on Monday, March 9th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Ituran Location and Control has an average rating of “Buy” and an average price target of $60.67.

Ituran Location and Control Trading Up 0.5%

ITRN opened at $49.70 on Friday. Ituran Location and Control has a twelve month low of $30.06 and a twelve month high of $51.33. The company’s 50-day moving average price is $46.36 and its two-hundred day moving average price is $41.04.

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

Institutional Investors Weigh In On Ituran Location and Control

Several institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp grew its position in shares of Ituran Location and Control by 327.2% in the first quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 939 shares in the last quarter. Jane Street Group LLC purchased a new stake in Ituran Location and Control during the 1st quarter worth about $223,000. Envestnet Asset Management Inc. lifted its holdings in Ituran Location and Control by 6.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 45,701 shares of the industrial products company’s stock worth $1,770,000 after purchasing an additional 2,691 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Ituran Location and Control by 19.8% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 64,122 shares of the industrial products company’s stock worth $2,483,000 after purchasing an additional 10,579 shares during the period. Finally, Boston Partners boosted its stake in Ituran Location and Control by 67.0% in the 2nd quarter. Boston Partners now owns 11,796 shares of the industrial products company’s stock worth $457,000 after purchasing an additional 4,731 shares during the period. Hedge funds and other institutional investors own 94.80% of the company’s stock.

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.