Ituran Location and Control (NASDAQ:ITRN) Cut to “Buy” at Wall Street Zen

Ituran Location and Control (NASDAQ:ITRN) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

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

Ituran Location and Control Stock Performance

Ituran Location and Control stock opened at $51.15 on Friday. The firm’s 50 day simple moving average is $48.24 and its 200 day simple moving average is $42.67. The firm has a market capitalization of $1.02 billion, a PE ratio of 17.58 and a beta of 0.66. Ituran Location and Control has a 1-year low of $30.06 and a 1-year high of $53.33.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ITRN. CWA Asset Management Group LLC boosted its holdings in shares of Ituran Location and Control by 212.5% in the 3rd quarter. CWA Asset Management Group LLC now owns 58,864 shares of the industrial products company’s stock worth $2,103,000 after purchasing an additional 40,027 shares in the last quarter. CSM Advisors LLC increased its position in shares of Ituran Location and Control by 30.2% during the 3rd quarter. CSM Advisors LLC now owns 125,435 shares of the industrial products company’s stock valued at $4,480,000 after purchasing an additional 29,090 shares during the last quarter. State of Wyoming purchased a new position in shares of Ituran Location and Control during the 3rd quarter valued at about $404,000. Russell Investments Group Ltd. raised its holdings in shares of Ituran Location and Control by 72.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 64,534 shares of the industrial products company’s stock valued at $2,499,000 after buying an additional 27,172 shares in the last quarter. Finally, Ibex Investors LLC lifted its position in Ituran Location and Control by 2.3% in the 3rd quarter. Ibex Investors LLC now owns 896,313 shares of the industrial products company’s stock worth $32,016,000 after buying an additional 20,000 shares during the last quarter. 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.