Ituran Location and Control (NASDAQ:ITRN) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Ituran Location and Control Ltd. (NASDAQ:ITRN)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $39.18 and traded as high as $44.60. Ituran Location and Control shares last traded at $44.13, with a volume of 175,663 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ITRN shares. Weiss Ratings restated a “buy (b)” rating on shares of Ituran Location and Control in a report on Monday, December 29th. Wall Street Zen upgraded shares of Ituran Location and Control from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $50.00.

Ituran Location and Control Trading Up 0.3%

The business’s fifty day moving average price is $42.37 and its 200 day moving average price is $39.18.

Ituran Location and Control (NASDAQ:ITRN) last announced its earnings results on Tuesday, November 18th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.06. The firm had revenue of $92.28 million for the quarter, compared to analyst estimates of $86.52 million. Ituran Location and Control had a net margin of 16.23% and a return on equity of 27.68%.

Ituran Location and Control Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 29th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, December 29th. This represents a $2.00 annualized dividend and a dividend yield of 4.5%. Ituran Location and Control’s dividend payout ratio (DPR) is 70.42%.

Hedge Funds Weigh In On Ituran Location and Control

Large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC boosted its stake in Ituran Location and Control by 18.5% in the 2nd quarter. Acadian Asset Management LLC now owns 726,519 shares of the industrial products company’s stock worth $28,097,000 after buying an additional 113,594 shares during the last quarter. CSM Advisors LLC purchased a new position in shares of Ituran Location and Control during the 2nd quarter worth about $3,731,000. Man Group plc boosted its position in shares of Ituran Location and Control by 90.8% in the second quarter. Man Group plc now owns 137,657 shares of the industrial products company’s stock worth $5,331,000 after acquiring an additional 65,502 shares during the last quarter. GW&K Investment Management LLC purchased a new stake in Ituran Location and Control in the third quarter valued at approximately $1,911,000. Finally, Pekin Hardy Strauss Inc. grew its holdings in Ituran Location and Control by 29.1% in the third quarter. Pekin Hardy Strauss Inc. now owns 230,308 shares of the industrial products company’s stock valued at $8,227,000 after purchasing an additional 51,939 shares during the period. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

About Ituran Location and Control

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.