Ituran Location and Control (NASDAQ:ITRN) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen cut shares of Ituran Location and Control (NASDAQ:ITRN) from a strong-buy rating to a buy rating in a research report released on Saturday morning.

Ituran Location and Control Trading Down 1.7%

ITRN opened at $38.83 on Friday. The stock has a market capitalization of $772.33 million, a PE ratio of 13.97 and a beta of 0.82. Ituran Location and Control has a 1-year low of $24.17 and a 1-year high of $45.43. The firm has a 50-day moving average price of $37.09 and a two-hundred day moving average price of $35.69.

Ituran Location and Control (NASDAQ:ITRN) last issued its earnings results on Wednesday, May 28th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. The company had revenue of $86.46 million for the quarter, compared to analyst estimates of $88.47 million. Ituran Location and Control had a net margin of 16.35% and a return on equity of 29.19%.

Ituran Location and Control Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 18th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.15%. The ex-dividend date was Wednesday, June 18th. Ituran Location and Control’s dividend payout ratio (DPR) is presently 71.94%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ITRN. Atria Investments Inc bought a new position in shares of Ituran Location and Control in the 4th quarter valued at about $209,000. Raymond James Financial Inc. bought a new position in Ituran Location and Control during the 4th quarter worth approximately $2,718,000. Inceptionr LLC bought a new position in Ituran Location and Control during the 4th quarter worth approximately $230,000. HighTower Advisors LLC boosted its stake in Ituran Location and Control by 7.8% during the 4th quarter. HighTower Advisors LLC now owns 31,061 shares of the industrial products company’s stock worth $968,000 after acquiring an additional 2,249 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Ituran Location and Control by 11.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,854 shares of the industrial products company’s stock worth $1,553,000 after acquiring an additional 5,220 shares during the last quarter. Institutional investors own 94.80% of the company’s stock.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd., together with its subsidiaries, provides location based telematics services and machine-to-machine telematics products. It operates through two segments, Telematics Services and Telematics Products. The Telematics services segment offers stolen vehicle recovery and tracking services, which enables 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 locator services that allow customers to protect valuable merchandise and equipment.