Ituran (NASDAQ:ITRN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday, May 9th.
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 downgraded Ituran from a “hold” rating to a “sell” rating in a research report on Wednesday, February 14th.
Shares of ITRN opened at $31.20 on Wednesday. Ituran has a 52-week low of $31.20 and a 52-week high of $31.45. The firm has a market capitalization of $735.96 million, a price-to-earnings ratio of 15.00 and a beta of 0.83.
Ituran (NASDAQ:ITRN) last issued its quarterly earnings data on Tuesday, February 27th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter. The firm had revenue of $61.29 million during the quarter. Ituran had a return on equity of 34.76% and a net margin of 18.36%. sell-side analysts anticipate that Ituran will post 2.47 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of ITRN. Advisor Group Inc. increased its position in shares of Ituran by 470.7% during the 4th quarter. Advisor Group Inc. now owns 5,861 shares of the industrial products company’s stock worth $200,000 after purchasing an additional 4,834 shares during the last quarter. ARK Investment Management LLC acquired a new stake in shares of Ituran during the 4th quarter worth about $233,000. Two Sigma Advisers LP acquired a new stake in shares of Ituran during the 4th quarter worth about $252,000. Meitav Dash Investments Ltd. acquired a new stake in shares of Ituran during the 4th quarter worth about $361,000. Finally, California Public Employees Retirement System increased its position in shares of Ituran by 30.5% during the 3rd quarter. California Public Employees Retirement System now owns 14,351 shares of the industrial products company’s stock worth $517,000 after purchasing an additional 3,351 shares during the last quarter. 48.78% of the stock is owned by hedge funds and other institutional investors.
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 enable 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 personal locator services that allow customers to protect valuable merchandise and equipment.
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