Ituran Location and Control (NASDAQ:ITRN) Lifted to Hold at BidaskClub

Ituran Location and Control (NASDAQ:ITRN) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Sunday, BidAskClub reports.

A number of other analysts have also recently commented on the company. ValuEngine upgraded Ituran Location and Control from a “sell” rating to a “hold” rating in a research report on Tuesday, November 17th. TheStreet upgraded Ituran Location and Control from a “d+” rating to a “c-” rating in a research report on Wednesday, November 18th. Finally, Zacks Investment Research upgraded Ituran Location and Control from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Tuesday, October 27th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $16.00.

NASDAQ ITRN opened at $18.39 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.70 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $15.03 and a two-hundred day moving average of $15.19. The stock has a market capitalization of $431.61 million, a PE ratio of -43.78 and a beta of 1.24. Ituran Location and Control has a 52 week low of $11.01 and a 52 week high of $26.37.

Ituran Location and Control (NASDAQ:ITRN) last released its quarterly earnings data on Tuesday, November 17th. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.13. Ituran Location and Control had a negative net margin of 3.45% and a positive return on equity of 21.07%. The company had revenue of $60.33 million during the quarter, compared to the consensus estimate of $59.10 million. On average, equities research analysts expect that Ituran Location and Control will post 1.23 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. California Public Employees Retirement System increased its position in Ituran Location and Control by 2.8% in the 3rd quarter. California Public Employees Retirement System now owns 44,423 shares of the industrial products company’s stock valued at $618,000 after acquiring an additional 1,200 shares during the period. State of Tennessee Treasury Department acquired a new position in Ituran Location and Control in the 2nd quarter valued at about $26,000. NEXT Financial Group Inc acquired a new position in Ituran Location and Control in the 3rd quarter valued at about $28,000. Arrowstreet Capital Limited Partnership increased its position in Ituran Location and Control by 21.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 35,504 shares of the industrial products company’s stock valued at $494,000 after acquiring an additional 6,200 shares during the period. Finally, Pzena Investment Management LLC increased its position in Ituran Location and Control by 43.6% in the 3rd quarter. Pzena Investment Management LLC now owns 20,472 shares of the industrial products company’s stock valued at $285,000 after acquiring an additional 6,220 shares during the period. Hedge funds and other institutional investors own 62.51% of the company’s stock.

About Ituran Location and Control

Ituran Location and Control Ltd., together with its subsidiaries, provides location-based services and wireless communications products. 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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