Wall Street Zen Downgrades Ituran Location and Control (NASDAQ:ITRN) to Buy

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 note issued to investors on Saturday.

Ituran Location and Control Trading Down 0.3%

Shares of ITRN stock opened at $39.28 on Friday. Ituran Location and Control has a 1 year low of $24.17 and a 1 year high of $45.43. The firm's fifty day moving average price is $37.01 and its two-hundred day moving average price is $35.54. The firm has a market capitalization of $781.28 million, a P/E ratio of 14.13 and a beta of 0.82.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. Ituran Location and Control had a net margin of 16.35% and a return on equity of 29.19%. The firm had revenue of $86.46 million for the quarter, compared to analyst estimates of $88.47 million.

Institutional Investors Weigh In On Ituran Location and Control

A number of institutional investors and hedge funds have recently modified their holdings of ITRN. Raymond James Financial Inc. bought a new stake in shares of Ituran Location and Control in the 4th quarter valued at about $2,718,000. Alliancebernstein L.P. bought a new stake in shares of Ituran Location and Control in the 4th quarter valued at about $2,329,000. ARK Investment Management LLC bought a new stake in shares of Ituran Location and Control in the 1st quarter valued at about $2,131,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Ituran Location and Control by 26.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 274,562 shares of the industrial products company's stock valued at $8,553,000 after purchasing an additional 56,956 shares during the period. Finally, Aristides Capital LLC raised its holdings in shares of Ituran Location and Control by 26.5% in the 4th quarter. Aristides Capital LLC now owns 233,190 shares of the industrial products company's stock valued at $7,264,000 after purchasing an additional 48,850 shares during the period. 94.80% of the stock is owned by institutional investors.

About Ituran Location and Control

Ituran Location and Control Ltd., together with its subsidiaries, provides location based telematics services and machine-to-machine telematics products. It operates through two segments, Telematics Services and Telematics Products. The Telematics services segment offers stolen vehicle recovery and tracking services, which enables to locate, track, and recover stolen vehicles for its subscribers; fleet management services that enable corporate and individual customers to track and manage their vehicles in real time; and locator services that allow customers to protect valuable merchandise and equipment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.