Ituran Location and Control Ltd. (NASDAQ:ITRN) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analyst sentiment is moderately bullish: Four of five analysts rate Ituran Location and Control a “buy,” while one recommends holding the stock. The average 12-month price target is $60.67, above its reported opening price of $51.74.
• The company exceeded quarterly expectations: Ituran reported adjusted earnings of $0.88 per share versus the $0.87 consensus estimate and revenue of $104.79 million, surpassing expectations of $99.84 million.
• Investors receive a 3.9% dividend yield: The company announced a quarterly dividend of $0.50 per share, or $2.00 annualized, with a payout ratio of 61.73%. Institutional investors and hedge funds own 94.8% of the outstanding stock.

Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Get Free Report) have been assigned an average rating of "Moderate Buy" from the five analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $60.6667.

ITRN has been the topic of a number of recent research reports. UBS Group reissued a "buy" rating on shares of Ituran Location and Control in a research note on Wednesday, May 27th. Wall Street Zen upgraded Ituran Location and Control from a "buy" rating to a "strong-buy" rating in a report on Tuesday, June 2nd. Zacks Research raised shares of Ituran Location and Control to a "hold" rating in a research report on Thursday, May 28th. Finally, Weiss Ratings lowered shares of Ituran Location and Control from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, August 26th.

Ituran Location and Control Stock Performance

Shares of ITRN stock opened at $51.74 on Monday. The stock's fifty day moving average is $54.45 and its two-hundred day moving average is $55.42. The firm has a market capitalization of $1.03 billion, a P/E ratio of 15.97 and a beta of 0.78. Ituran Location and Control has a fifty-two week low of $33.41 and a fifty-two week high of $68.30.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) 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. Ituran Location and Control had a net margin of 16.28% and a return on equity of 29.03%. The business had revenue of $104.79 million during the quarter, compared to analysts' expectations of $99.84 million. On average, equities analysts forecast that Ituran Location and Control will post 3.54 earnings per share for the current year.

Ituran Location and Control Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Tuesday, September 29th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.9%. The ex-dividend date is Tuesday, September 29th. Ituran Location and Control's payout ratio is presently 61.73%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System lifted its position in Ituran Location and Control by 5,702.0% in the second quarter. California State Teachers Retirement System now owns 967,070 shares of the industrial products company's stock valued at $59,001,000 after buying an additional 950,402 shares during the last quarter. GW&K Investment Management LLC increased its position in shares of Ituran Location and Control by 909.3% during the fourth quarter. GW&K Investment Management LLC now owns 539,817 shares of the industrial products company's stock valued at $23,218,000 after acquiring an additional 486,331 shares during the last quarter. Nuveen LLC increased its position in shares of Ituran Location and Control by 721.6% during the fourth quarter. Nuveen LLC now owns 104,190 shares of the industrial products company's stock valued at $4,481,000 after acquiring an additional 91,509 shares during the last quarter. Strategic Global Advisors LLC raised its stake in shares of Ituran Location and Control by 106.4% in the 4th quarter. Strategic Global Advisors LLC now owns 132,325 shares of the industrial products company's stock valued at $5,691,000 after acquiring an additional 68,222 shares during the period. Finally, Man Group plc raised its stake in shares of Ituran Location and Control by 90.8% in the 2nd quarter. Man Group plc now owns 137,657 shares of the industrial products company's stock valued at $5,331,000 after acquiring an additional 65,502 shares during the period. 94.80% of the stock is currently owned by institutional investors and hedge funds.

About Ituran Location and Control

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.

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