Ituran Location and Control (NASDAQ:ITRN) Shares Cross Below 50 Day Moving Average – What’s Next?

Ituran Location and Control Ltd. (NASDAQ:ITRN) shares passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $51.58 and traded as low as $49.18. Ituran Location and Control shares last traded at $49.64, with a volume of 122,726 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wall Street Zen cut Ituran Location and Control from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 7th. Weiss Ratings downgraded shares of Ituran Location and Control from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, September 22nd. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Ituran Location and Control presently has a consensus rating of “Moderate Buy” and an average price target of $60.67.

Ituran Location and Control Trading Down 1.8%

The stock’s 50-day moving average price is $51.51 and its 200-day moving average price is $53.76. The company has a market cap of $977.00 million, a P/E ratio of 15.44 and a beta of 0.79.

Ituran Location and Control (NASDAQ:ITRN) last issued its earnings results on Wednesday, August 12th. The industrial products company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. The business had revenue of $104.79 million during the quarter, compared to analyst estimates of $99.84 million. Ituran Location and Control had a return on equity of 29.03% and a net margin of 16.28%. On average, research analysts anticipate that Ituran Location and Control Ltd. will post 3.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ituran Location and Control

A number of large investors have recently modified their holdings of ITRN. First Command Advisory Services Inc. increased its stake in Ituran Location and Control by 153.0% during the 3rd quarter. First Command Advisory Services Inc. now owns 1,318 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 797 shares in the last quarter. Copeland Capital Management LLC lifted its stake in shares of Ituran Location and Control by 31.2% in the third quarter. Copeland Capital Management LLC now owns 1,847 shares of the industrial products company’s stock valued at $95,000 after buying an additional 439 shares in the last quarter. State of Wyoming bought a new position in shares of Ituran Location and Control in the third quarter valued at $123,000. Baron Wealth Management LLC bought a new position in shares of Ituran Location and Control in the second quarter valued at $221,000. Finally, D Orazio & Associates Inc. grew its holdings in shares of Ituran Location and Control by 6.5% during the third quarter. D Orazio & Associates Inc. now owns 4,145 shares of the industrial products company’s stock valued at $212,000 after buying an additional 252 shares during the last quarter. 94.80% of the stock is currently owned by institutional investors.

About Ituran Location and Control

Ituran Location and Control Ltd. provides location-based telematics services and products for drivers, vehicle owners, and businesses. Its offerings include stolen-vehicle recovery and tracking, fleet management, and connected-vehicle services that help customers monitor vehicles and manage their use. The company combines in-vehicle hardware with wireless communications and location technology to deliver tracking, alerts, and vehicle-related information. Ituran serves customers in Israel and several international markets, including countries in Latin America.