Ituran Location and Control (NASDAQ:ITRN) Coverage Initiated at Maxim Group

Investment analysts at Maxim Group started coverage on shares of Ituran Location and Control (NASDAQ:ITRN) in a research report issued on Thursday, MarketBeat reports. The brokerage set a “buy” rating and a $70.00 price target on the industrial products company’s stock. Maxim Group’s price target indicates a potential upside of 40.85% from the stock’s previous close.

Several other research analysts have also recently issued reports on ITRN. Loop Capital set a $57.00 target price on shares of Ituran Location and Control in a report on Monday. Wall Street Zen cut shares of Ituran Location and Control from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Ituran Location and Control in a research report on Monday, December 29th. Finally, Barclays upped their price objective on Ituran Location and Control from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $60.67.

Ituran Location and Control Stock Performance

Shares of NASDAQ:ITRN opened at $49.70 on Thursday. The business has a fifty day moving average price of $46.36 and a 200-day moving average price of $41.01. Ituran Location and Control has a 1-year low of $30.06 and a 1-year high of $51.33.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ITRN. Caitong International Asset Management Co. Ltd grew its stake in shares of Ituran Location and Control by 257.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 629 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 453 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Ituran Location and Control by 50.1% in the 4th quarter. Global Retirement Partners LLC now owns 656 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 219 shares during the period. Advisory Services Network LLC bought a new position in shares of Ituran Location and Control in the 3rd quarter worth approximately $28,000. Jones Financial Companies Lllp boosted its holdings 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 worth $43,000 after buying an additional 939 shares during the last quarter. Finally, Covestor Ltd purchased a new position in shares of Ituran Location and Control in the third quarter worth approximately $47,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

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.