Ituran Location and Control (NASDAQ:ITRN) Upgraded to "Strong-Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Ituran Location and Control (NASDAQ:ITRN) from a "buy" to a "strong‑buy", and other analysts are bullish as well (Barclays lifted its target to $55, Maxim initiated coverage with a $70 target), with a consensus price target of $60.67.
• In the latest quarter Ituran reported EPS of $0.77 on $93.5M of revenue (net margin 16.15%, ROE 27.27%); shares trade near $53.54 with a market cap of $1.06 billion and a P/E of 18.4.
• Ituran is a telematics provider offering subscription-based wireless vehicle tracking and stolen-vehicle recovery using cellular and GPS technology, and is ≈94.8% institutionally owned.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Sunday.

ITRN has been the subject of several other reports. Barclays boosted their target price 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. 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 price objective for the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Ituran Location and Control in a research report on Friday, March 27th. Finally, Loop Capital set a $57.00 price objective on shares of Ituran Location and Control in a research report on Monday, March 9th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $60.67.

Ituran Location and Control Stock Up 0.9%

Shares of ITRN stock opened at $53.54 on Friday. The firm has a 50 day moving average price of $49.00 and a two-hundred day moving average price of $43.31. The company has a market capitalization of $1.06 billion, a PE ratio of 18.40 and a beta of 0.66. Ituran Location and Control has a 12-month low of $32.28 and a 12-month high of $54.00.

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 EPS for the quarter. The company had revenue of $93.50 million during the quarter. Ituran Location and Control had a net margin of 16.15% and a return on equity of 27.27%.

Institutional Investors Weigh In On Ituran Location and Control

A number of institutional investors have recently added to or reduced their stakes in ITRN. Jones Financial Companies Lllp grew its position in Ituran Location and Control by 327.2% in 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. Jane Street Group LLC bought a new position in shares of Ituran Location and Control during the 1st quarter valued at approximately $223,000. JPMorgan Chase & Co. grew its position in shares of Ituran Location and Control by 276.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 17,135 shares of the industrial products company's stock valued at $664,000 after acquiring an additional 12,586 shares during the period. Legal & General Group Plc grew its position in shares of Ituran Location and Control by 23.5% during the 2nd quarter. Legal & General Group Plc now owns 19,413 shares of the industrial products company's stock valued at $752,000 after acquiring an additional 3,696 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Ituran Location and Control by 13.6% during the 2nd quarter. American Century Companies Inc. now owns 6,555 shares of the industrial products company's stock valued at $254,000 after acquiring an additional 783 shares during the period. 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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