Ituran Location and Control (NASDAQ:ITRN) Sets New 1-Year High – Still a Buy?

Ituran Location and Control Ltd. (NASDAQ:ITRN) shares reached a new 52-week high on Wednesday . The company traded as high as $57.00 and last traded at $55.5290, with a volume of 11744 shares traded. The stock had previously closed at $56.26.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Barclays raised their target price 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. Loop Capital set a $57.00 target price on shares of Ituran Location and Control in a research note on Monday, March 9th. Maxim Group initiated coverage on shares of Ituran Location and Control in a report on Thursday, March 12th. They issued a “buy” rating and a $70.00 target price for the company. Wall Street Zen raised shares of Ituran Location and Control from a “buy” rating to a “strong-buy” rating in a research report on Sunday, April 12th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Ituran Location and Control in a research report on Friday, March 27th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $60.67.

Ituran Location and Control Stock Down 0.3%

The company has a market cap of $1.12 billion, a P/E ratio of 19.28 and a beta of 0.66. The company’s 50-day moving average is $50.31 and its two-hundred day moving average is $44.34.

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

Ituran Location and Control Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Monday, March 30th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, March 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 10.7%. This is a boost from Ituran Location and Control’s previous quarterly dividend of $0.50. Ituran Location and Control’s payout ratio is currently 206.19%.

Institutional Investors Weigh In On Ituran Location and Control

Several institutional investors have recently added to or reduced their stakes in ITRN. Caitong International Asset Management Co. Ltd increased its stake in shares of Ituran Location and Control by 257.4% in the fourth 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 boosted its holdings in 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 buying an additional 219 shares during the period. Advisory Services Network LLC purchased a new position in Ituran Location and Control in the 3rd quarter valued at approximately $28,000. Jones Financial Companies Lllp raised its holdings in Ituran Location and Control by 327.2% during the 1st quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 939 shares during the period. Finally, Covestor Ltd purchased a new stake in shares of Ituran Location and Control during the third quarter worth $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.