Ituran Location and Control (NASDAQ:ITRN) Shares Gap Up to $25.85

Ituran Location and Control Ltd. (NASDAQ:ITRN)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $25.85, but opened at $26.99. Ituran Location and Control shares last traded at $26.99, with a volume of 1 shares traded.

Several research analysts have recently issued reports on ITRN shares. Zacks Investment Research raised Ituran Location and Control from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Wednesday, August 25th. TheStreet raised shares of Ituran Location and Control from a “c+” rating to a “b” rating in a research note on Friday, May 28th.

The firm’s 50 day moving average is $25.45 and its two-hundred day moving average is $24.14. The stock has a market cap of $633.46 million, a price-to-earnings ratio of 15.96 and a beta of 1.33. The company has a current ratio of 1.51, a quick ratio of 1.33 and a debt-to-equity ratio of 0.15.

Ituran Location and Control (NASDAQ:ITRN) last announced its earnings results on Sunday, August 22nd. The industrial products company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.04. Ituran Location and Control had a net margin of 12.93% and a return on equity of 26.30%. The firm had revenue of $67.46 million during the quarter, compared to the consensus estimate of $65.85 million. As a group, equities analysts expect that Ituran Location and Control Ltd. will post 1.66 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 13th. Shareholders of record on Thursday, September 30th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Wednesday, September 29th. Ituran Location and Control’s dividend payout ratio (DPR) is 29.79%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Morgan Stanley grew its holdings in Ituran Location and Control by 208.2% in the 2nd quarter. Morgan Stanley now owns 23,236 shares of the industrial products company’s stock valued at $633,000 after buying an additional 15,697 shares during the period. Meitav Dash Investments Ltd. grew its holdings in shares of Ituran Location and Control by 1.3% during the 2nd quarter. Meitav Dash Investments Ltd. now owns 64,603 shares of the industrial products company’s stock worth $1,769,000 after purchasing an additional 800 shares during the period. Invesco Ltd. grew its holdings in shares of Ituran Location and Control by 9.4% during the 2nd quarter. Invesco Ltd. now owns 16,742 shares of the industrial products company’s stock worth $456,000 after purchasing an additional 1,432 shares during the period. PDT Partners LLC purchased a new stake in shares of Ituran Location and Control during the 2nd quarter worth about $234,000. Finally, Credit Suisse AG grew its holdings in shares of Ituran Location and Control by 7.7% during the 2nd quarter. Credit Suisse AG now owns 23,623 shares of the industrial products company’s stock worth $644,000 after purchasing an additional 1,698 shares during the period. Institutional investors own 59.50% of the company’s stock.

About Ituran Location and Control (NASDAQ:ITRN)

Ituran Location & Control Ltd. engages in the provision of stolen vehicle recovery, fleet management, and tracking services. It operates through the following segments: Telematics Services and Telematics Products. The Telematics Services segment consists predominantly of regionally- based stolen vehicle recovery services, fleet management services and value-added services comprised of personal advanced locater services and concierge services.

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