Zacks Investment Research lowered shares of Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) from a hold rating to a sell rating in a research report sent to investors on Thursday morning, Zacks.com reports.

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. “

A number of other research firms also recently weighed in on ITRN. Barclays started coverage on shares of Ituran Location and Control Ltd. (US) in a research report on Thursday, May 16th. They set an overweight rating and a $42.00 target price for the company. BidaskClub raised shares of Ituran Location and Control Ltd. (US) from a sell rating to a hold rating in a research report on Monday.

NASDAQ:ITRN opened at $32.95 on Thursday. The company has a market cap of $703.22 million, a price-to-earnings ratio of 13.45, a PEG ratio of 0.73 and a beta of 0.81. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.80 and a quick ratio of 1.53. Ituran Location and Control Ltd. has a fifty-two week low of $29.25 and a fifty-two week high of $38.50.

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) last released its earnings results on Tuesday, May 21st. The industrial products company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.17). The firm had revenue of $73.60 million for the quarter, compared to analyst estimates of $86.76 million. Ituran Location and Control Ltd. (US) had a net margin of 23.24% and a return on equity of 33.29%. On average, sell-side analysts expect that Ituran Location and Control Ltd. will post 2.9 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Thursday, June 20th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.91%. This is a boost from Ituran Location and Control Ltd. (US)’s previous quarterly dividend of $0.23. The ex-dividend date is Wednesday, June 19th. Ituran Location and Control Ltd. (US)’s dividend payout ratio is presently 37.55%.

Institutional investors have recently bought and sold shares of the business. Noked Capital LTD bought a new position in shares of Ituran Location and Control Ltd. (US) during the fourth quarter valued at $14,942,000. Sphera Funds Management LTD. purchased a new stake in Ituran Location and Control Ltd. (US) during the 4th quarter worth approximately $14,637,000. BlackRock Inc. increased its stake in Ituran Location and Control Ltd. (US) by 4.7% during the 4th quarter. BlackRock Inc. now owns 490,187 shares of the industrial products company’s stock worth $15,717,000 after buying an additional 22,220 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in Ituran Location and Control Ltd. (US) by 48.7% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 439,622 shares of the industrial products company’s stock worth $15,112,000 after buying an additional 143,920 shares in the last quarter. Finally, Covey Capital Advisors LLC increased its stake in Ituran Location and Control Ltd. (US) by 7.0% during the 4th quarter. Covey Capital Advisors LLC now owns 52,013 shares of the industrial products company’s stock worth $1,667,000 after buying an additional 3,400 shares in the last quarter. Hedge funds and other institutional investors own 51.27% of the company’s stock.

Ituran Location and Control Ltd. (US) Company Profile

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 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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