Brokerages Set $36.10 Target Price for Ituran Location and Control Ltd. (US) (ITRN)

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) has been given a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating. Ituran Location and Control Ltd. (US)’s rating score has declined by 200% from 90 days ago as a result of a number of analysts’ ratings changes.

Analysts have set a one year consensus price target of $36.10 for the company, according to Zacks. Zacks has also assigned Ituran Location and Control Ltd. (US) an industry rank of 187 out of 265 based on the ratings given to related companies.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research raised Ituran Location and Control Ltd. (US) from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Tuesday, November 21st. Telsey Advisory Group lowered Ituran Location and Control Ltd. (US) from an “outperform” rating to a “market perform” rating and set a $36.00 price target for the company. in a research note on Friday, November 17th. Finally, Chardan Capital lowered Ituran Location and Control Ltd. (US) from a “buy” rating to a “neutral” rating and set a $36.00 price target for the company. in a research note on Friday, November 17th.

Hedge funds have recently modified their holdings of the business. California Public Employees Retirement System purchased a new stake in Ituran Location and Control Ltd. (US) during the second quarter valued at approximately $344,000. Royal Bank of Canada raised its position in Ituran Location and Control Ltd. (US) by 33.9% during the second quarter. Royal Bank of Canada now owns 11,031 shares of the industrial products company’s stock valued at $345,000 after purchasing an additional 2,795 shares during the period. Goldman Sachs Group Inc. purchased a new stake in Ituran Location and Control Ltd. (US) during the second quarter valued at approximately $1,085,000. Sphera Funds Management LTD. raised its position in Ituran Location and Control Ltd. (US) by 8.2% during the second quarter. Sphera Funds Management LTD. now owns 304,421 shares of the industrial products company’s stock valued at $9,528,000 after purchasing an additional 23,065 shares during the period. Finally, Boothbay Fund Management LLC purchased a new stake in Ituran Location and Control Ltd. (US) during the third quarter valued at approximately $556,000. Institutional investors and hedge funds own 51.63% of the company’s stock.

Ituran Location and Control Ltd. (ITRN) traded up $0.60 during midday trading on Friday, hitting $34.75. The stock had a trading volume of 122,600 shares, compared to its average volume of 40,283. The company has a market capitalization of $716.06, a price-to-earnings ratio of 16.58 and a beta of 0.82. Ituran Location and Control Ltd. has a 1 year low of $25.45 and a 1 year high of $38.00.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Wednesday, December 27th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Tuesday, December 26th. Ituran Location and Control Ltd. (US)’s payout ratio is presently 46.60%.

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Ituran Location and Control Ltd. (US) 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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