Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) Stock Rating Lowered by BidaskClub

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Wednesday, BidAskClub reports.

A number of other equities research analysts have also recently issued reports on ITRN. Zacks Investment Research raised shares of Ituran Location and Control Ltd. (US) from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Barclays assumed coverage on shares of Ituran Location and Control Ltd. (US) in a research note on Thursday, May 16th. They issued an “overweight” rating and a $42.00 price objective for the company.

Shares of Ituran Location and Control Ltd. (US) stock opened at $31.45 on Wednesday. Ituran Location and Control Ltd. has a 52-week low of $29.25 and a 52-week high of $38.50. The firm has a market capitalization of $677.38 million, a PE ratio of 12.84, a price-to-earnings-growth ratio of 0.72 and a beta of 0.93. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.83 and a quick ratio of 1.55.

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) last announced its quarterly earnings data on Tuesday, May 21st. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.17). Ituran Location and Control Ltd. (US) had a net margin of 23.24% and a return on equity of 32.82%. The business had revenue of $73.60 million during the quarter, compared to analysts’ expectations of $86.76 million. As a group, equities research analysts forecast that Ituran Location and Control Ltd. will post 2.75 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Legal & General Group Plc boosted its stake in shares of Ituran Location and Control Ltd. (US) by 58.8% in the 4th quarter. Legal & General Group Plc now owns 929 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 344 shares in the last quarter. Bank of America Corp DE boosted its position in Ituran Location and Control Ltd. (US) by 16.5% during the 4th quarter. Bank of America Corp DE now owns 3,376 shares of the industrial products company’s stock valued at $109,000 after buying an additional 477 shares during the period. Public Employees Retirement Association of Colorado boosted its position in Ituran Location and Control Ltd. (US) by 27.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 3,930 shares of the industrial products company’s stock valued at $126,000 after buying an additional 857 shares during the period. Aptus Capital Advisors LLC purchased a new stake in Ituran Location and Control Ltd. (US) during the 4th quarter valued at $259,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Ituran Location and Control Ltd. (US) during the 4th quarter valued at $299,000. 61.08% of the stock is owned by institutional investors.

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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