Ituran Location and Control Ltd. (ITRN) Stock Rating Lowered by Telsey Advisory Group

Ituran Location and Control Ltd. (NASDAQ:ITRN) was downgraded by investment analysts at Telsey Advisory Group from an “outperform” rating to a “market perform” rating in a note issued to investors on Friday. They currently have a $36.00 price objective on the industrial products company’s stock. Telsey Advisory Group’s price objective would indicate a potential upside of 0.14% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Ituran Location and Control from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Chardan Capital cut shares of Ituran Location and Control from a “buy” rating to a “neutral” rating and set a $36.00 target price on the stock. in a research report on Friday. Finally, BidaskClub upgraded shares of Ituran Location and Control from a “strong sell” rating to a “sell” rating in a report on Thursday, August 17th.

Ituran Location and Control (NASDAQ:ITRN) opened at $35.95 on Friday. Ituran Location and Control has a twelve month low of $24.10 and a twelve month high of $38.00. The firm has a market cap of $753.80, a PE ratio of 17.45 and a beta of 0.83.

Ituran Location and Control (NASDAQ:ITRN) last posted its earnings results on Wednesday, August 16th. The industrial products company reported $0.50 earnings per share for the quarter. Ituran Location and Control had a net margin of 18.99% and a return on equity of 36.10%. The firm had revenue of $58.53 million during the quarter. analysts forecast that Ituran Location and Control will post 2.09 EPS for the current year.

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Several institutional investors and hedge funds have recently bought and sold shares of ITRN. Wells Fargo & Company MN raised its stake in shares of Ituran Location and Control by 30.8% during the second quarter. Wells Fargo & Company MN now owns 4,579 shares of the industrial products company’s stock valued at $143,000 after purchasing an additional 1,078 shares during the period. New York State Common Retirement Fund raised its stake in shares of Ituran Location and Control by 47.8% during the second quarter. New York State Common Retirement Fund now owns 6,994 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 2,263 shares during the period. ETF Managers Group LLC purchased a new stake in shares of Ituran Location and Control during the second quarter valued at approximately $228,000. Covey Capital Advisors LLC purchased a new stake in shares of Ituran Location and Control during the second quarter valued at approximately $252,000. Finally, California Public Employees Retirement System purchased a new stake in shares of Ituran Location and Control during the second quarter valued at approximately $344,000. Institutional investors own 51.60% of the company’s stock.

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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