Zacks Investment Research upgraded shares of Ituran (NASDAQ:ITRN) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. Zacks Investment Research currently has $35.00 price target on the industrial products company’s stock.
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. “
Separately, BidaskClub cut shares of Ituran from a hold rating to a sell rating in a research note on Saturday, January 6th.
ITRN stock opened at $32.05 on Tuesday. Ituran has a one year low of $28.50 and a one year high of $38.00. The firm has a market capitalization of $672.03, a PE ratio of 15.34 and a beta of 0.83.
Ituran (NASDAQ:ITRN) last released its earnings results on Tuesday, February 27th. The industrial products company reported $0.47 EPS for the quarter. Ituran had a net margin of 18.36% and a return on equity of 34.76%. The company had revenue of $61.29 million during the quarter. equities research analysts expect that Ituran will post 2.47 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 11th. Stockholders of record on Tuesday, March 27th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Monday, March 26th. Ituran’s dividend payout ratio (DPR) is presently 45.93%.
Hedge funds have recently added to or reduced their stakes in the company. Boothbay Fund Management LLC acquired a new stake in shares of Ituran in the 3rd quarter worth $556,000. Lazard Asset Management LLC lifted its stake in shares of Ituran by 19.9% in the fourth quarter. Lazard Asset Management LLC now owns 64,742 shares of the industrial products company’s stock valued at $2,214,000 after purchasing an additional 10,742 shares during the period. Simcoe Capital Management LLC lifted its stake in shares of Ituran by 5.4% in the fourth quarter. Simcoe Capital Management LLC now owns 658,965 shares of the industrial products company’s stock valued at $22,536,000 after purchasing an additional 33,600 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Ituran by 543.8% in the third quarter. Allianz Asset Management GmbH now owns 63,461 shares of the industrial products company’s stock valued at $2,287,000 after purchasing an additional 53,604 shares during the period. Finally, OxFORD Asset Management LLP acquired a new stake in shares of Ituran in the third quarter valued at about $547,000. Institutional investors own 54.51% of the company’s stock.
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Ituran 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 enable to 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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