Ituran Location and Control (NASDAQ:ITRN) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Ituran Location and Control (NASDAQ: ITRN) from a "buy" rating to a "hold" rating in a recent report.
• The company's stock had a growth of 1.2% following the downgrade and is currently trading at $37.12.
• Ituran reported earnings of $0.67 per share, missing forecasts, with revenue of $86.79 million compared to expectations of $89.17 million.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Friday.

Ituran Location and Control Stock Down 5.1%

ITRN traded down $1.84 on Friday, reaching $34.51. 709,401 shares of the company traded hands, compared to its average volume of 104,799. Ituran Location and Control has a one year low of $25.86 and a one year high of $45.43. The firm has a fifty day simple moving average of $38.97 and a two-hundred day simple moving average of $37.45. The company has a market cap of $686.40 million, a P/E ratio of 12.37 and a beta of 0.89.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 19th. The industrial products company reported $0.67 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.06). Ituran Location and Control had a net margin of 16.35% and a return on equity of 28.24%. The company had revenue of $86.79 million for the quarter, compared to the consensus estimate of $89.17 million.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas purchased a new position in Ituran Location and Control during the 1st quarter valued at about $262,000. Millennium Management LLC increased its position in Ituran Location and Control by 8.8% during the 4th quarter. Millennium Management LLC now owns 228,537 shares of the industrial products company's stock valued at $7,119,000 after purchasing an additional 18,563 shares during the period. Foundations Investment Advisors LLC increased its position in Ituran Location and Control by 130.7% during the 1st quarter. Foundations Investment Advisors LLC now owns 16,667 shares of the industrial products company's stock valued at $603,000 after purchasing an additional 9,442 shares during the period. D. E. Shaw & Co. Inc. increased its position in Ituran Location and Control by 61.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 12,248 shares of the industrial products company's stock valued at $382,000 after purchasing an additional 4,648 shares during the period. Finally, Bank of America Corp DE increased its position in Ituran Location and Control by 147.5% during the 4th quarter. Bank of America Corp DE now owns 8,707 shares of the industrial products company's stock valued at $271,000 after purchasing an additional 5,189 shares during the period. Hedge funds and other institutional investors own 94.80% of the company's stock.

Ituran Location and Control Company Profile

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.