Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) from a buy rating to a hold rating in a report released on Thursday, January 18th.

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. “

ITRN has been the topic of a number of other reports. Telsey Advisory Group downgraded Ituran Location and Control Ltd. (US) from an outperform rating to a market perform rating and set a $36.00 price objective on the stock. in a research note on Friday, November 17th. BidaskClub raised Ituran Location and Control Ltd. (US) from a sell rating to a hold rating in a research note on Friday, December 22nd. Finally, Chardan Capital lowered Ituran Location and Control Ltd. (US) from a buy rating to a neutral rating and set a $36.00 target price on the stock. in a report on Friday, November 17th.

Ituran Location and Control Ltd. (ITRN) opened at $33.45 on Thursday. Ituran Location and Control Ltd. has a one year low of $26.90 and a one year high of $38.00. The firm has a market capitalization of $701.38, a P/E ratio of 16.24 and a beta of 0.79.

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) last issued its quarterly earnings data on Wednesday, November 15th. The industrial products company reported $0.50 earnings per share for the quarter. Ituran Location and Control Ltd. (US) had a return on equity of 36.10% and a net margin of 18.99%. The business had revenue of $61.59 million for the quarter. equities analysts anticipate that Ituran Location and Control Ltd. will post 2.15 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its holdings in Ituran Location and Control Ltd. (US) by 30.8% in the 2nd quarter. Wells Fargo & Company MN now owns 4,579 shares of the industrial products company’s stock valued at $143,000 after buying an additional 1,078 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Ituran Location and Control Ltd. (US) by 47.8% in the 2nd quarter. New York State Common Retirement Fund now owns 6,994 shares of the industrial products company’s stock valued at $219,000 after buying an additional 2,263 shares during the last quarter. Royal Bank of Canada grew its holdings in Ituran Location and Control Ltd. (US) by 33.9% in the 2nd quarter. Royal Bank of Canada now owns 11,031 shares of the industrial products company’s stock valued at $345,000 after buying an additional 2,795 shares during the last quarter. California Public Employees Retirement System grew its holdings in Ituran Location and Control Ltd. (US) by 30.5% in the 3rd quarter. California Public Employees Retirement System now owns 14,351 shares of the industrial products company’s stock valued at $517,000 after buying an additional 3,351 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Ituran Location and Control Ltd. (US) by 0.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,128,700 shares of the industrial products company’s stock valued at $35,328,000 after buying an additional 3,800 shares during the last quarter. 53.06% of the stock is currently owned by hedge funds and other institutional investors.

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About Ituran Location and Control Ltd. (US)

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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