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

Key Points

• Ituran Location and Control was upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating renewed positive sentiment among analysts.
• Despite the upgrade, the company reported quarterly earnings that fell short of analysts' expectations, with EPS at $0.67 compared to a consensus estimate of $0.73.
• A significant percentage of Ituran's stock, 94.80%, is owned by institutional investors, showcasing strong institutional support for the company.

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

Ituran Location and Control Trading Down 1.9%

ITRN traded down $0.69 on Friday, hitting $35.67. 157,300 shares of the stock traded hands, compared to its average volume of 152,040. Ituran Location and Control has a 52 week low of $25.86 and a 52 week high of $45.43. The firm has a market capitalization of $709.62 million, a PE ratio of 12.78 and a beta of 0.87. The business has a fifty day moving average price of $37.80 and a two-hundred day moving average price of $36.91.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last released its quarterly earnings data on Tuesday, August 19th. The industrial products company reported $0.67 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $89.17 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Ibex Investors LLC boosted its holdings in shares of Ituran Location and Control by 1.8% in the 1st quarter. Ibex Investors LLC now owns 876,313 shares of the industrial products company's stock worth $31,687,000 after acquiring an additional 15,267 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Ituran Location and Control by 18.5% in the 2nd quarter. Acadian Asset Management LLC now owns 726,519 shares of the industrial products company's stock valued at $28,097,000 after purchasing an additional 113,594 shares during the period. Aristides Capital LLC lifted its stake in shares of Ituran Location and Control by 11.9% in the 2nd quarter. Aristides Capital LLC now owns 229,974 shares of the industrial products company's stock valued at $8,907,000 after purchasing an additional 24,370 shares during the period. Millennium Management LLC lifted its holdings in Ituran Location and Control by 8.8% during the fourth quarter. Millennium Management LLC now owns 228,537 shares of the industrial products company's stock worth $7,119,000 after acquiring an additional 18,563 shares in the last quarter. Finally, Inflection Point Investments LLP lifted its holdings in Ituran Location and Control by 1.0% during the second quarter. Inflection Point Investments LLP now owns 197,997 shares of the industrial products company's stock worth $7,591,000 after acquiring an additional 2,000 shares in the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

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.