Ituran Location and Control Ltd. (NASDAQ:ITRN) Stock Has Consensus Price Target of $60.67

Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) have been given a consensus recommendation of “Moderate Buy” by the five brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $60.67.

Separately, Weiss Ratings cut shares of Ituran Location and Control from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, September 22nd.

Ituran Location and Control Stock Performance

Ituran Location and Control stock opened at $51.78 on Friday. Ituran Location and Control has a fifty-two week low of $35.00 and a fifty-two week high of $68.30. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 15.98 and a beta of 0.78. The stock’s fifty day moving average is $52.24 and its two-hundred day moving average is $55.95.

Ituran Location and Control (NASDAQ:ITRN) last released its quarterly earnings results on Wednesday, August 12th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.01. The business had revenue of $104.79 million during the quarter, compared to the consensus estimate of $99.84 million. Ituran Location and Control had a return on equity of 29.03% and a net margin of 16.28%. As a group, sell-side analysts forecast that Ituran Location and Control will post 3.54 EPS for the current fiscal year.

Ituran Location and Control Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Tuesday, September 29th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Tuesday, September 29th. Ituran Location and Control’s payout ratio is currently 61.73%.

Institutional Investors Weigh In On Ituran Location and Control

A number of large investors have recently bought and sold shares of ITRN. Tidal Investments LLC increased its position in Ituran Location and Control by 73.8% during the second quarter. Tidal Investments LLC now owns 28,928 shares of the industrial products company’s stock worth $1,765,000 after buying an additional 12,279 shares in the last quarter. Engineers Gate Manager LP lifted its position in shares of Ituran Location and Control by 96.9% in the second quarter. Engineers Gate Manager LP now owns 11,207 shares of the industrial products company’s stock valued at $684,000 after acquiring an additional 5,516 shares in the last quarter. BTG Pactual Asset Management US LLC acquired a new stake in shares of Ituran Location and Control during the second quarter valued at $389,000. Navellier & Associates Inc. increased its position in Ituran Location and Control by 286.6% during the 2nd quarter. Navellier & Associates Inc. now owns 51,056 shares of the industrial products company’s stock worth $3,115,000 after purchasing an additional 37,849 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Ituran Location and Control during the 2nd quarter worth about $787,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

About Ituran Location and Control

Ituran Location and Control Ltd. (NASDAQ: ITRN) is an Israel-based provider of location-based services and wireless communications solutions. The company develops and operates vehicle location, tracking and control systems designed to help customers monitor vehicles, recover stolen automobiles and manage mobile assets.

Its offerings include vehicle-recovery and tracking services, fleet-management solutions, GPS and cellular communication devices, and telematics services used by insurers, automobile manufacturers, fleet operators and individual consumers.