Ituran Location and Control (NASDAQ:ITRN) Hits New 52-Week High – Still a Buy?

Ituran Location and Control Ltd. (NASDAQ:ITRN) hit a new 52-week high on Monday . The company traded as high as $51.36 and last traded at $50.3280, with a volume of 38020 shares traded. The stock had previously closed at $49.70.

Analysts Set New Price Targets

Several research firms have weighed in on ITRN. Weiss Ratings reiterated a “buy (b)” rating on shares of Ituran Location and Control in a report on Monday, December 29th. Loop Capital set a $57.00 price target on Ituran Location and Control in a research report on Monday, March 9th. Maxim Group assumed coverage on Ituran Location and Control in a research note on Thursday. They set a “buy” rating and a $70.00 target price for the company. Barclays lifted their price target on shares of Ituran Location and Control from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, March 5th. Finally, Wall Street Zen upgraded shares of Ituran Location and Control from a “buy” rating to a “strong-buy” rating in a report on Sunday. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $60.67.

Ituran Location and Control Trading Up 1.6%

The stock has a market cap of $1.00 billion, a P/E ratio of 17.35 and a beta of 0.68. The company has a 50 day simple moving average of $46.36 and a 200 day simple moving average of $41.08.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings data on Thursday, March 5th. The industrial products company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The business had revenue of $93.50 million for the quarter, compared to analyst estimates of $93.30 million. Ituran Location and Control had a net margin of 16.15% and a return on equity of 27.27%.

Ituran Location and Control Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Monday, March 30th will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, March 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 11.9%. This is a positive change from Ituran Location and Control’s previous quarterly dividend of $0.50. Ituran Location and Control’s dividend payout ratio (DPR) is currently 68.73%.

Institutional Trading of Ituran Location and Control

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GW&K Investment Management LLC boosted its position in Ituran Location and Control by 909.3% during the fourth quarter. GW&K Investment Management LLC now owns 539,817 shares of the industrial products company’s stock valued at $23,218,000 after purchasing an additional 486,331 shares during the last quarter. Nuveen LLC increased its position in shares of Ituran Location and Control by 721.6% during the 4th quarter. Nuveen LLC now owns 104,190 shares of the industrial products company’s stock worth $4,481,000 after purchasing an additional 91,509 shares during the last quarter. Strategic Global Advisors LLC raised its stake in shares of Ituran Location and Control by 106.4% during the 4th quarter. Strategic Global Advisors LLC now owns 132,325 shares of the industrial products company’s stock worth $5,691,000 after purchasing an additional 68,222 shares in the last quarter. Man Group plc boosted its holdings in shares of Ituran Location and Control by 90.8% in the 2nd quarter. Man Group plc now owns 137,657 shares of the industrial products company’s stock valued at $5,331,000 after buying an additional 65,502 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Ituran Location and Control by 71.1% in the fourth quarter. Millennium Management LLC now owns 125,478 shares of the industrial products company’s stock valued at $5,397,000 after buying an additional 52,150 shares in the last quarter. Institutional investors own 94.80% of the company’s stock.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd. is a provider of wireless vehicle tracking and stolen vehicle recovery services. The company leverages a combination of cellular and global positioning system (GPS) technologies to offer real-time monitoring and location-based solutions for private vehicle owners, fleet operators and insurance companies. Its core offerings include subscription-based tracking devices, centralized control centers and software platforms that enable clients to detect unauthorized vehicle use, dispatch recovery teams and manage fleet logistics.

Founded in 1994 in Israel, Ituran pioneered the use of wireless communications for security and telematics applications.