Ituran Location and Control (NASDAQ:ITRN) Cut to Buy at Wall Street Zen

Key Points

• Wall Street Zen downgraded Ituran from “strong buy” to “buy,” while Weiss Ratings also lowered its rating. Overall, analysts maintain a “Moderate Buy” consensus with a $60.67 target price.
• Ituran beat quarterly estimates, reporting EPS of $0.88 versus $0.87 expected and revenue of $104.79 million versus $99.84 million expected.
• Shares opened at $49.76 and were down 0.3%; the stock’s 52-week range is $35.22 to $68.30.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings lowered Ituran Location and Control from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, September 22nd. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.67.

Ituran Location and Control Trading Down 0.3%

Shares of Ituran Location and Control stock opened at $49.76 on Friday. The firm has a market cap of $989.73 million, a P/E ratio of 15.36 and a beta of 0.79. The stock's fifty day moving average price is $51.58 and its 200-day moving average price is $53.64. Ituran Location and Control has a 12 month low of $35.22 and a 12 month high of $68.30.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last posted 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. Ituran Location and Control had a return on equity of 29.03% and a net margin of 16.28%. The company had revenue of $104.79 million for the quarter, compared to the consensus estimate of $99.84 million. Analysts forecast that Ituran Location and Control will post 3.54 earnings per share for the current year.

Institutional Investors Weigh In On Ituran Location and Control

A number of hedge funds and other institutional investors have recently made changes to their positions in ITRN. Cannell & Spears LLC bought a new stake in shares of Ituran Location and Control during the 1st quarter valued at about $2,373,000. Asset One Wealth Management LLC bought a new stake in shares of Ituran Location and Control in the 3rd quarter worth about $2,262,000. Navellier & Associates Inc. increased its stake in shares of Ituran Location and Control by 286.6% in the 2nd quarter. Navellier & Associates Inc. now owns 51,056 shares of the industrial products company's stock valued at $3,115,000 after buying an additional 37,849 shares during the period. Y.D. More Investments Ltd boosted its position in shares of Ituran Location and Control by 3.8% during the first quarter. Y.D. More Investments Ltd now owns 891,274 shares of the industrial products company's stock worth $43,681,000 after purchasing an additional 33,000 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Ituran Location and Control during the 1st quarter worth approximately $1,451,000. Hedge funds and other institutional investors own 94.80% of the company's stock.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd. is an Israel-based provider of vehicle location, tracking and control services. The company develops and operates solutions designed to help recover stolen vehicles, monitor vehicle locations and improve the safety, security and management of automobiles and other mobile assets.

Its offerings include stolen-vehicle recovery systems, GPS and cellular tracking devices, fleet-management tools, telematics services and related subscription-based monitoring services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.