Ituran Location and Control (NASDAQ:ITRN) Downgraded by Wall Street Zen to Buy

Wall Street Zen cut shares of Ituran Location and Control (NASDAQ:ITRN) from a strong-buy rating to a buy rating in a research note published on Saturday morning.

A number of other research firms have also recently issued reports on ITRN. Maxim Group began coverage on Ituran Location and Control in a report on Thursday, March 12th. They set a “buy” rating and a $70.00 price target on the stock. Loop Capital set a $57.00 price target on Ituran Location and Control in a report on Monday, March 9th. 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 report on Thursday, March 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Ituran Location and Control in a report on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $60.67.

Ituran Location and Control Stock Performance

NASDAQ:ITRN opened at $60.93 on Friday. The firm has a market cap of $1.21 billion, a P/E ratio of 20.94 and a beta of 0.73. Ituran Location and Control has a 52 week low of $32.71 and a 52 week high of $61.12. The firm’s fifty day moving average is $52.17 and its 200-day moving average is $45.79.

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

Ituran Location and Control Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Monday, March 30th were issued a $1.50 dividend. The ex-dividend date was Monday, March 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 9.8%. This is an increase from Ituran Location and Control’s previous quarterly dividend of $0.50. Ituran Location and Control’s dividend payout ratio (DPR) is 206.19%.

Hedge Funds Weigh In On Ituran Location and Control

Large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Ituran Location and Control by 257.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 629 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 453 shares in the last quarter. Global Retirement Partners LLC lifted its holdings 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 in the last quarter. Advisory Services Network LLC bought a new position in shares of Ituran Location and Control in the 3rd quarter worth $28,000. Jones Financial Companies Lllp lifted its holdings in shares of Ituran Location and Control by 327.2% in the 1st quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 939 shares in the last quarter. Finally, Covestor Ltd bought a new position in shares of Ituran Location and Control in the 3rd quarter worth $47,000. 94.80% of the stock is currently owned by 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.