Ituran Location and Control (NASDAQ:ITRN) Stock Crosses Below 50 Day Moving Average - Time to Sell?

Key Points

• Ituran shares fell below their 50-day moving average of $51.58, trading as low as $49.18 and last at $49.64; the stock was down 4.2%.
• Analysts maintain a Moderate Buy consensus, with four Buy ratings and one Hold and an average price target of $60.67.
• The company’s latest quarterly results topped expectations, reporting EPS of $0.88 versus $0.87 expected and revenue of $104.79 million versus $99.84 million expected.

Ituran Location and Control Ltd. (NASDAQ:ITRN - Get Free Report) crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $51.58 and traded as low as $49.18. Ituran Location and Control shares last traded at $49.64, with a volume of 122,726 shares traded.

Analyst Upgrades and Downgrades

ITRN has been the topic of a number of research reports. Weiss Ratings lowered shares of Ituran Location and Control from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, September 22nd. Wall Street Zen downgraded shares of Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $60.67.

Ituran Location and Control Stock Down 4.2%

The company has a market capitalization of $987.34 million, a P/E ratio of 15.32 and a beta of 0.79. The company has a 50-day moving average of $51.58 and a two-hundred day moving average of $53.70.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.01. The business had revenue of $104.79 million during the quarter, compared to the consensus estimate of $99.84 million. Ituran Location and Control had a return on equity of 29.03% and a net margin of 16.28%. As a group, equities analysts expect that Ituran Location and Control Ltd. will post 3.54 EPS for the current fiscal year.

Institutional Trading of Ituran Location and Control

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cannell & Spears LLC purchased a new position in Ituran Location and Control during the 1st quarter valued at about $2,373,000. Asset One Wealth Management LLC bought a new stake in Ituran Location and Control during the third quarter worth about $2,262,000. Navellier & Associates Inc. boosted its stake in Ituran Location and Control by 286.6% during the second quarter. Navellier & Associates Inc. now owns 51,056 shares of the industrial products company's stock worth $3,115,000 after acquiring an additional 37,849 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Ituran Location and Control by 10.3% in the first quarter. Lazard Asset Management LLC now owns 111,710 shares of the industrial products company's stock worth $5,475,000 after purchasing an additional 10,464 shares during the period. Finally, Tidal Investments LLC grew its holdings in Ituran Location and Control by 73.8% in the second quarter. Tidal Investments LLC now owns 28,928 shares of the industrial products company's stock worth $1,765,000 after purchasing an additional 12,279 shares during the period. 94.80% of the stock is owned by hedge funds and other institutional investors.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd. provides location-based telematics services and products for drivers, vehicle owners, and businesses. Its offerings include stolen-vehicle recovery and tracking, fleet management, and connected-vehicle services that help customers monitor vehicles and manage their use. The company combines in-vehicle hardware with wireless communications and location technology to deliver tracking, alerts, and vehicle-related information. Ituran serves customers in Israel and several international markets, including countries in Latin America.

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