Ituran Location and Control (NASDAQ:ITRN) Lowered to "Buy" Rating by Wall Street Zen

Key Points

• Ituran Location and Control was downgraded by Wall Street Zen from "strong-buy" to "buy", though the broader analyst sentiment remains positive with an average Buy rating and a consensus price target of $60.67.
• Other firms have been constructive on the stock recently, including Barclays raising its target to $55 with an overweight rating and Maxim Group initiating coverage with a $70 target.
• The company reported $0.77 EPS and $93.5 million in revenue in its latest quarter, while the stock traded near its 52-week high at $60.93.

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 report issued to clients and investors on Saturday.

Other analysts have also recently issued reports about the company. Barclays raised their target price on Ituran Location and Control from $50.00 to $55.00 and gave the stock an "overweight" rating in a research note on Thursday, March 5th. Weiss Ratings reissued a "buy (b)" rating on shares of Ituran Location and Control in a research note on Friday, March 27th. Maxim Group began coverage on shares of Ituran Location and Control in a research report on Thursday, March 12th. They issued a "buy" rating and a $70.00 target price for the company. Finally, Loop Capital set a $57.00 target price on shares of Ituran Location and Control in a research note on Monday, March 9th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $60.67.

Ituran Location and Control Price Performance

NASDAQ ITRN opened at $60.93 on Friday. The stock has a market capitalization of $1.21 billion, a PE ratio of 20.94 and a beta of 0.73. Ituran Location and Control has a 1 year low of $32.71 and a 1 year high of $61.12. The business's 50-day moving average is $52.17 and its 200 day moving average is $45.79.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last posted its earnings results on Saturday, February 14th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter. The company had revenue of $93.50 million for the quarter. Ituran Location and Control had a return on equity of 27.27% and a net margin of 16.15%.

Institutional Trading of Ituran Location and Control

Several large investors have recently bought and sold shares of ITRN. GW&K Investment Management LLC boosted its position in Ituran Location and Control by 909.3% during the 4th 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 in the last quarter. Nuveen LLC boosted its position in Ituran Location and Control by 721.6% during the 4th 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 in the last quarter. Strategic Global Advisors LLC boosted its position in Ituran Location and Control by 106.4% during 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 in the last quarter. Man Group plc boosted its position in Ituran Location and Control by 90.8% during 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 in the last quarter. Finally, Millennium Management LLC boosted its position in Ituran Location and Control by 71.1% during the 4th quarter. Millennium Management LLC now owns 125,478 shares of the industrial products company's stock valued at $5,397,000 after acquiring an additional 52,150 shares in the last quarter. 94.80% of the stock is owned by institutional investors.

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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