Ituran Location and Control Ltd. (US) (ITRN) Cut to “Hold” at BidaskClub

BidaskClub lowered shares of Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) from a buy rating to a hold rating in a research note issued to investors on Thursday.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group reaffirmed a buy rating and issued a $41.00 target price on shares of Ituran Location and Control Ltd. (US) in a research report on Tuesday, December 4th. Zacks Investment Research raised shares of Ituran Location and Control Ltd. (US) from a hold rating to a buy rating and set a $37.00 target price for the company in a research report on Thursday, September 20th.

Ituran Location and Control Ltd. (US) stock traded down $0.59 during mid-day trading on Thursday, reaching $33.02. The company’s stock had a trading volume of 35,200 shares, compared to its average volume of 48,337. The company has a market cap of $715.58 million, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 0.69 and a beta of 0.75. Ituran Location and Control Ltd. has a 12 month low of $29.25 and a 12 month high of $36.72. The company has a current ratio of 1.73, a quick ratio of 1.42 and a debt-to-equity ratio of 0.46.



Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) last released its earnings results on Monday, November 26th. The industrial products company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $53.38 million during the quarter, compared to the consensus estimate of $57.06 million. Ituran Location and Control Ltd. (US) had a net margin of 25.13% and a return on equity of 32.17%. On average, equities research analysts forecast that Ituran Location and Control Ltd. will post 2.4 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 9th. Shareholders of record on Wednesday, December 26th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Monday, December 24th. Ituran Location and Control Ltd. (US)’s dividend payout ratio is currently 44.02%.

A number of hedge funds have recently made changes to their positions in ITRN. FMR LLC lifted its stake in Ituran Location and Control Ltd. (US) by 11.9% in the second quarter. FMR LLC now owns 1,987,713 shares of the industrial products company’s stock valued at $60,327,000 after acquiring an additional 211,975 shares during the last quarter. Schroder Investment Management Group lifted its stake in Ituran Location and Control Ltd. (US) by 124.0% in the second quarter. Schroder Investment Management Group now owns 210,600 shares of the industrial products company’s stock valued at $6,445,000 after acquiring an additional 116,600 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Ituran Location and Control Ltd. (US) by 6.3% in the second quarter. Renaissance Technologies LLC now owns 1,339,600 shares of the industrial products company’s stock valued at $40,657,000 after acquiring an additional 79,200 shares during the last quarter. River Road Asset Management LLC lifted its stake in Ituran Location and Control Ltd. (US) by 13.2% in the third quarter. River Road Asset Management LLC now owns 400,625 shares of the industrial products company’s stock valued at $13,781,000 after acquiring an additional 46,608 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Ituran Location and Control Ltd. (US) by 114.2% in the third quarter. Acadian Asset Management LLC now owns 65,361 shares of the industrial products company’s stock valued at $2,248,000 after acquiring an additional 34,852 shares during the last quarter. Hedge funds and other institutional investors own 57.99% of the company’s stock.

About Ituran Location and Control Ltd. (US)

Ituran Location and Control Ltd., together with its subsidiaries, provides location-based services and wireless communications products in Israel, Brazil, Argentina, and the United States. The company's Location-Based Services segment provides stolen vehicle recovery and tracking services, which 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 personal locator services that allow customers to protect valuable merchandise and equipment.

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