Ituran Location and Control Ltd. (NASDAQ:ITRN) Receives $60.67 Consensus Price Target from Analysts

Ituran Location and Control Ltd. (NASDAQ:ITRN) has been assigned a consensus rating of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $60.6667.

A number of equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Ituran Location and Control from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 2nd. UBS Group reiterated a “buy” rating on shares of Ituran Location and Control in a report on Wednesday, May 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Ituran Location and Control in a research note on Friday, March 27th. Finally, Zacks Research upgraded shares of Ituran Location and Control to a “hold” rating in a report on Thursday, May 28th.

Institutional Investors Weigh In On Ituran Location and Control

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GW&K Investment Management LLC raised its position in Ituran Location and Control by 909.3% in the fourth quarter. GW&K Investment Management LLC now owns 539,817 shares of the industrial products company’s stock valued at $23,218,000 after purchasing an additional 486,331 shares during the period. Nuveen LLC increased its position in shares of Ituran Location and Control by 721.6% during the 4th quarter. Nuveen LLC now owns 104,190 shares of the industrial products company’s stock worth $4,481,000 after purchasing an additional 91,509 shares during the last quarter. Strategic Global Advisors LLC increased its position in shares of Ituran Location and Control by 106.4% during the 4th quarter. Strategic Global Advisors LLC now owns 132,325 shares of the industrial products company’s stock worth $5,691,000 after purchasing an additional 68,222 shares during the last quarter. Man Group plc raised its holdings in Ituran Location and Control by 90.8% in the 2nd quarter. Man Group plc now owns 137,657 shares of the industrial products company’s stock valued at $5,331,000 after buying an additional 65,502 shares during the period. Finally, Millennium Management LLC raised its holdings in Ituran Location and Control by 71.1% in the 4th quarter. Millennium Management LLC now owns 125,478 shares of the industrial products company’s stock valued at $5,397,000 after buying an additional 52,150 shares during the period. Institutional investors and hedge funds own 94.80% of the company’s stock.

Ituran Location and Control Stock Performance

NASDAQ ITRN opened at $57.43 on Friday. The stock’s fifty day moving average is $60.79 and its two-hundred day moving average is $53.53. The firm has a market capitalization of $1.14 billion, a P/E ratio of 18.95 and a beta of 0.77. Ituran Location and Control has a fifty-two week low of $32.71 and a fifty-two week high of $68.30.

Ituran Location and Control (NASDAQ:ITRN) last issued its earnings results on Tuesday, May 26th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. Ituran Location and Control had a return on equity of 27.70% and a net margin of 16.03%.The business had revenue of $102.67 million during the quarter, compared to the consensus estimate of $95.32 million. As a group, sell-side analysts forecast that Ituran Location and Control will post 3.5 EPS for the current year.

Ituran Location and Control Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Wednesday, June 24th were issued a $0.50 dividend. The ex-dividend date was Wednesday, June 24th. This represents a $2.00 dividend on an annualized basis and a yield of 3.5%. Ituran Location and Control’s dividend payout ratio is currently 66.01%.

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.