Ituran Location and Control Ltd. (NASDAQ:ITRN) Receives Average Recommendation 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, compared with a recent share price of $51.32.
• Institutional ownership is high: Institutional investors hold 94.8% of the company, with several hedge funds significantly increasing their positions.
• The company reported solid results and maintains an attractive dividend: Quarterly EPS and revenue exceeded estimates, while Ituran declared a $0.50 quarterly dividend, equivalent to a 3.9% annual yield.

Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Get Free Report) have been given a consensus rating of "Moderate Buy" by the five ratings firms that are covering the stock, Marketbeat.com reports. One investment 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 brokers that have issued a report on the stock in the last year is $60.67.

Separately, Weiss Ratings cut shares of Ituran Location and Control from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, September 22nd.

Institutional Trading of Ituran Location and Control

Several hedge funds have recently made changes to their positions in ITRN. GW&K Investment Management LLC grew 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 worth $23,218,000 after acquiring an additional 486,331 shares during the last quarter. Strategic Global Advisors LLC increased its holdings 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 worth $5,691,000 after acquiring an additional 68,222 shares during the period. Cannell & Spears LLC bought a new stake in Ituran Location and Control in the 1st quarter valued at about $2,373,000. Navellier & Associates Inc. lifted its position in 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 purchasing an additional 37,849 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in Ituran Location and Control by 7.0% during the 4th quarter. Rice Hall James & Associates LLC now owns 528,164 shares of the industrial products company's stock valued at $22,716,000 after purchasing an additional 34,550 shares during the period. Institutional investors own 94.80% of the company's stock.

Ituran Location and Control Stock Performance

Shares of NASDAQ:ITRN opened at $51.32 on Friday. The company's fifty day moving average is $52.51 and its two-hundred day moving average is $55.88. Ituran Location and Control has a 1-year low of $35.00 and a 1-year high of $68.30. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 15.84 and a beta of 0.78.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The industrial products company reported $0.88 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $99.84 million. Sell-side analysts expect that Ituran Location and Control will post 3.54 EPS for the current fiscal year.

Ituran Location and Control Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Tuesday, September 29th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Tuesday, September 29th. Ituran Location and Control's dividend payout ratio is presently 61.73%.

About Ituran Location and Control

Ituran Location and Control Ltd. NASDAQ: ITRN is an Israel-based provider of location-based services and telematics solutions. The company develops and operates systems that use cellular, satellite and other communications technologies to track vehicles and assets, support stolen-vehicle recovery and provide information for fleet and mobility management.

Its products and services include vehicle tracking and security systems, fleet-management tools, connected-car services, and usage-based or telematics-enabled solutions for insurers and automotive businesses.

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