Ituran Location and Control (NASDAQ:ITRN) Reaches New 52-Week High - Time to Buy?

Key Points

• Ituran reached a new 52-week high (intraday high $54.63, last $54.38) and is up about 1.6%, with several analysts upgrading or reiterating buys and a consensus price target of $60.67.
• The company sharply raised its quarterly dividend to $1.50 per share (from $0.50), implying a $6.00 annualized payout and an 11.0% yield, though the dividend payout ratio is a high 206.19%.
• Ituran has a market cap of $1.08 billion, a trailing PE of 18.69, reported $0.77 EPS for the most recent quarter with a 27.27% ROE and 16.15% net margin, and is heavily institutionally owned (94.8%).

Ituran Location and Control Ltd. (NASDAQ:ITRN - Get Free Report)'s share price reached a new 52-week high on Tuesday . The company traded as high as $54.63 and last traded at $54.38, with a volume of 141657 shares trading hands. The stock had previously closed at $53.54.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ITRN shares. Wall Street Zen upgraded Ituran Location and Control from a "buy" rating to a "strong-buy" rating in a research note on Sunday. Maxim Group started coverage on Ituran Location and Control in a report on Thursday, March 12th. They set a "buy" rating and a $70.00 price objective on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Ituran Location and Control in a report on Friday, March 27th. Barclays raised their price objective on Ituran Location and Control from $50.00 to $55.00 and gave the stock an "overweight" rating in a report on Thursday, March 5th. Finally, Loop Capital set a $57.00 price target on Ituran Location and Control in a report on Monday, March 9th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $60.67.

Ituran Location and Control Stock Up 1.6%

The stock has a fifty day moving average of $49.18 and a 200-day moving average of $43.51. The stock has a market cap of $1.08 billion, a PE ratio of 18.69 and a beta of 0.66.

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

Ituran Location and Control Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Monday, March 30th will be issued a dividend of $1.50 per share. This is an increase from Ituran Location and Control's previous quarterly dividend of $0.50. This represents a $6.00 dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date of this dividend is Monday, March 30th. Ituran Location and Control's dividend payout ratio is 206.19%.

Institutional Investors Weigh In On Ituran Location and Control

Hedge funds have recently added to or reduced their stakes in the company. CWA Asset Management Group LLC lifted its position in Ituran Location and Control by 212.5% in the third quarter. CWA Asset Management Group LLC now owns 58,864 shares of the industrial products company's stock valued at $2,103,000 after purchasing an additional 40,027 shares during the period. Y.D. More Investments Ltd lifted its position in Ituran Location and Control by 4.9% in the fourth quarter. Y.D. More Investments Ltd now owns 858,274 shares of the industrial products company's stock valued at $37,236,000 after purchasing an additional 39,718 shares during the period. CSM Advisors LLC lifted its position in Ituran Location and Control by 30.2% in the third quarter. CSM Advisors LLC now owns 125,435 shares of the industrial products company's stock valued at $4,480,000 after purchasing an additional 29,090 shares during the period. State of Wyoming acquired a new stake in Ituran Location and Control in the third quarter valued at about $404,000. Finally, Belpointe Asset Management LLC acquired a new stake in Ituran Location and Control in the third quarter valued at about $517,000. Institutional investors and hedge funds own 94.80% of the company's stock.

Ituran Location and Control Company Profile

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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