Ituran Location and Control (NASDAQ:ITRN) Sets New 52-Week High - Should You Buy?

Key Points

• Shares of Ituran (NASDAQ:ITRN) hit a new 52‑week high near $52.31, and analyst sentiment has turned bullish with a consensus price target of $60.67 (notable calls include Maxim's $70 initiation and Barclays raising its target to $55).
• The company raised its quarterly dividend from $0.50 to $1.50 (annualized $6.00), implying a 11.5% dividend yield and a payout ratio of about 68.7%, payable Apr. 16 (ex‑div March 30).
• Ituran slightly beat Q earnings with $0.77 EPS vs. $0.76 expected and $93.5M revenue; the firm has a $1.04B market cap, a PE of 17.97, a 16.15% net margin and a 27.27% ROE.

Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $52.24 and last traded at $52.3130, with a volume of 1520 shares trading hands. The stock had previously closed at $50.93.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Barclays lifted their price target on shares of Ituran Location and Control from $50.00 to $55.00 and gave the stock an "overweight" rating in a research report on Thursday, March 5th. Loop Capital set a $57.00 target price on shares of Ituran Location and Control in a research report on Monday, March 9th. Maxim Group initiated 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 price target for the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Ituran Location and Control in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Ituran Location and Control from a "buy" rating to a "strong-buy" rating in a research report on Sunday, March 15th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $60.67.

Ituran Location and Control Stock Performance

The company has a market cap of $1.04 billion, a PE ratio of 17.97 and a beta of 0.68. The company has a 50 day simple moving average of $47.27 and a two-hundred day simple moving average of $41.91.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last posted its quarterly earnings results on Thursday, March 5th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.01. Ituran Location and Control had a net margin of 16.15% and a return on equity of 27.27%. The business had revenue of $93.50 million during the quarter, compared to analyst estimates of $93.30 million.

Ituran Location and Control Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Shareholders of record on Monday, March 30th will be paid a dividend of $1.50 per share. This is an increase from Ituran Location and Control's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, March 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 11.5%. Ituran Location and Control's dividend payout ratio (DPR) is 68.73%.

Hedge Funds Weigh In On Ituran Location and Control

Hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd boosted its position in Ituran Location and Control by 257.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 629 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 453 shares during the last quarter. Global Retirement Partners LLC increased its position in Ituran Location and Control by 50.1% in the 4th quarter. Global Retirement Partners LLC now owns 656 shares of the industrial products company's stock worth $28,000 after purchasing an additional 219 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Ituran Location and Control during the 3rd quarter worth about $28,000. Jones Financial Companies Lllp raised its stake in shares of Ituran Location and Control by 327.2% during the 1st quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company's stock worth $43,000 after purchasing an additional 939 shares in the last quarter. Finally, Covestor Ltd acquired a new stake in shares of Ituran Location and Control during the 3rd quarter valued at about $47,000. 94.80% of the stock is 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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