Ituran Location and Control (NASDAQ:ITRN) Sets New 1-Year High – Time to Buy?

Ituran Location and Control Ltd. (NASDAQ:ITRN)’s share price hit a new 52-week high on Friday . The stock traded as high as $45.90 and last traded at $44.65, with a volume of 91856 shares. The stock had previously closed at $45.40.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ITRN shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Ituran Location and Control in a research report on Monday, December 29th. Wall Street Zen raised Ituran Location and Control from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $50.00.

Ituran Location and Control Stock Down 1.7%

The stock has a 50-day simple moving average of $41.56 and a 200 day simple moving average of $38.98.

Ituran Location and Control (NASDAQ:ITRN) last issued its quarterly earnings data on Tuesday, November 18th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.06. The firm had revenue of $92.28 million during the quarter, compared to the consensus estimate of $86.52 million. Ituran Location and Control had a return on equity of 27.68% and a net margin of 16.23%.

Ituran Location and Control Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 29th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, December 29th. Ituran Location and Control’s dividend payout ratio is currently 70.42%.

Institutional Trading of Ituran Location and Control

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. purchased a new position in Ituran Location and Control in the 2nd quarter valued at approximately $293,000. Aristides Capital LLC boosted its holdings in Ituran Location and Control by 11.9% in the second quarter. Aristides Capital LLC now owns 229,974 shares of the industrial products company’s stock valued at $8,907,000 after purchasing an additional 24,370 shares during the period. CWA Asset Management Group LLC grew its stake in Ituran Location and Control by 212.5% during the 3rd quarter. CWA Asset Management Group LLC now owns 58,864 shares of the industrial products company’s stock worth $2,103,000 after purchasing an additional 40,027 shares in the last quarter. CSM Advisors LLC purchased a new stake in Ituran Location and Control during the 2nd quarter worth about $3,731,000. Finally, Acadian Asset Management LLC raised its position in Ituran Location and Control by 18.5% in the 2nd quarter. Acadian Asset Management LLC now owns 726,519 shares of the industrial products company’s stock valued at $28,097,000 after purchasing an additional 113,594 shares in the last quarter. Hedge funds and other institutional investors own 94.80% of the company’s stock.

About Ituran Location and Control

Ituran Location and Control Ltd. is a provider of wireless vehicle tracking and stolen vehicle recovery services. The company leverages a combination of cellular and global positioning system (GPS) technologies to offer real-time monitoring and location-based solutions for private vehicle owners, fleet operators and insurance companies. Its core offerings include subscription-based tracking devices, centralized control centers and software platforms that enable clients to detect unauthorized vehicle use, dispatch recovery teams and manage fleet logistics.

Founded in 1994 in Israel, Ituran pioneered the use of wireless communications for security and telematics applications.