Weiss Ratings Reiterates Buy (B-) Rating for Ituran Location and Control (NASDAQ:ITRN)

Key Points

• Weiss Ratings has restated its "buy (B-)" rating for Ituran Location and Control (NASDAQ: ITRN), indicating continued confidence in the stock's performance.
• The stock received a boost from Wall Street Zen, which upgraded its rating from "hold" to "buy," contributing to a consensus "Buy" rating among analysts.
• Ituran's recent earnings report showed missed expectations with an EPS of $0.67, falling short of the $0.73 estimate, and revenue of $86.79 million compared to $89.17 million anticipated by analysts.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report)'s stock had its "buy (b-)" rating restated by analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen raised shares of Ituran Location and Control from a "hold" rating to a "buy" rating in a research report on Saturday, September 20th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $50.00.

Ituran Location and Control Trading Down 1.4%

Shares of NASDAQ:ITRN opened at $35.53 on Wednesday. Ituran Location and Control has a 52 week low of $26.20 and a 52 week high of $45.43. The company's 50 day moving average is $36.76 and its two-hundred day moving average is $36.75. The company has a market cap of $706.69 million, a PE ratio of 12.73 and a beta of 0.87.

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 EPS 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 firm had revenue of $86.79 million during the quarter, compared to analysts' expectations of $89.17 million.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ITRN. Bank of America Corp DE grew 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 worth $271,000 after purchasing an additional 5,189 shares during the last quarter. California State Teachers Retirement System grew its position in Ituran Location and Control by 3.6% during the 4th quarter. California State Teachers Retirement System now owns 15,161 shares of the industrial products company's stock worth $472,000 after purchasing an additional 532 shares during the last quarter. SG Americas Securities LLC purchased a new position in Ituran Location and Control during the 1st quarter worth $637,000. Ritholtz Wealth Management purchased a new position in Ituran Location and Control during the 1st quarter worth $311,000. Finally, CWA Asset Management Group LLC grew its position in Ituran Location and Control by 18.0% during the 1st quarter. CWA Asset Management Group LLC now owns 14,990 shares of the industrial products company's stock worth $542,000 after purchasing an additional 2,282 shares during the last quarter. 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., 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.

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