Analysts Set $36.00 Price Target for Ituran Location and Control Ltd. (ITRN)

Shares of Ituran Location and Control Ltd. (NASDAQ:ITRN) have been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Brokers have set a twelve-month consensus price objective of $36.00 for the company, according to Zacks. Zacks has also assigned Ituran Location and Control an industry rank of 117 out of 265 based on the ratings given to related companies.

Several research analysts have recently weighed in on the company. Telsey Advisory Group lowered Ituran Location and Control from an “outperform” rating to a “market perform” rating and set a $36.00 price objective for the company. in a research report on Friday. Chardan Capital lowered Ituran Location and Control from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research report on Friday. Finally, Zacks Investment Research lowered Ituran Location and Control from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th.

Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. bought a new position in shares of Ituran Location and Control in the 2nd quarter worth about $1,085,000. Sphera Funds Management LTD. raised its position in shares of Ituran Location and Control by 8.2% in the 2nd quarter. Sphera Funds Management LTD. now owns 304,421 shares of the industrial products company’s stock worth $9,528,000 after acquiring an additional 23,065 shares in the last quarter. Eagle Global Advisors LLC raised its position in shares of Ituran Location and Control by 14.3% in the 2nd quarter. Eagle Global Advisors LLC now owns 27,896 shares of the industrial products company’s stock worth $873,000 after acquiring an additional 3,500 shares in the last quarter. Royal Bank of Canada raised its position in shares of Ituran Location and Control by 33.9% in the 2nd quarter. Royal Bank of Canada now owns 11,031 shares of the industrial products company’s stock worth $345,000 after acquiring an additional 2,795 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Ituran Location and Control by 5.0% in the 2nd quarter. FMR LLC now owns 1,305,753 shares of the industrial products company’s stock valued at $40,870,000 after buying an additional 61,724 shares during the period. 51.78% of the stock is owned by hedge funds and other institutional investors.

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Shares of Ituran Location and Control (ITRN) traded down $0.15 during trading hours on Friday, reaching $35.95. The company had a trading volume of 27,623 shares, compared to its average volume of 34,975. The company has a market cap of $753.80, a price-to-earnings ratio of 17.45 and a beta of 0.83. Ituran Location and Control has a twelve month low of $24.10 and a twelve month high of $38.00.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 27th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Tuesday, December 26th. Ituran Location and Control’s dividend payout ratio (DPR) is presently 46.60%.

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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