Zacks Investment Research Upgrades Ituran Location and Control Ltd. (NASDAQ:ITRN) to “Buy”

Ituran Location and Control Ltd. (NASDAQ:ITRN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, August 30th. The firm currently has a $38.00 target price on the industrial products company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.60% from the stock’s previous close.

According to Zacks, “Ituran provides location-based services, consisting predominantly of stolen vehicle recovery and tracking services, as well as wireless communications products used in connection with its location-based services and various other applications. Ituran offers mobile asset location, Stolen Vehicle Recovery, management & control services for vehicles, cargo and personal security, and radio frequency identification products for various purposes including automatic meter reading, electronic toll collection and homeland security applications. “

Separately, BidaskClub upgraded shares of Ituran Location and Control from a “hold” rating to a “buy” rating in a report on Saturday, July 8th.

Ituran Location and Control (NASDAQ:ITRN) opened at 34.05 on Wednesday. Ituran Location and Control has a 1-year low of $23.95 and a 1-year high of $36.95. The firm’s 50-day moving average price is $32.29 and its 200-day moving average price is $31.23. The firm has a market cap of $713.96 million, a price-to-earnings ratio of 17.51 and a beta of 0.80.

Ituran Location and Control (NASDAQ:ITRN) last issued its quarterly earnings data on Wednesday, August 16th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter. The firm had revenue of $58.53 million during the quarter. Ituran Location and Control had a net margin of 18.67% and a return on equity of 36.12%. On average, equities research analysts anticipate that Ituran Location and Control will post $1.74 earnings per share for the current year.

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Several institutional investors and hedge funds have recently made changes to their positions in ITRN. FMR LLC raised its position in shares of Ituran Location and Control by 5.0% during the second quarter. FMR LLC now owns 1,305,753 shares of the industrial products company’s stock valued at $40,870,000 after buying an additional 61,724 shares during the last quarter. Advisor Group Inc. raised its position in Ituran Location and Control by 106,353.8% in the second quarter. Advisor Group Inc. now owns 41,517 shares of the industrial products company’s stock worth $1,300,000 after purchasing an additional 41,478 shares in the last quarter. Analyst IMS Investment Management Services Ltd. raised its position in Ituran Location and Control by 6.1% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 656,662 shares of the industrial products company’s stock worth $20,553,000 after purchasing an additional 37,877 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in Ituran Location and Control in the second quarter worth about $1,085,000. Finally, Lazard Asset Management LLC acquired a new position in Ituran Location and Control in the second quarter worth about $863,000. 51.75% of the stock is owned by institutional investors and hedge funds.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd. is a provider of location-based services, consisting of stolen vehicle recovery (SVR), fleet management services and other tracking services. The Company also provides wireless communication products used in connection with its location-based services and various other applications.

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