Ituran Location and Control (NASDAQ:ITRN) Announces Earnings Results, Beats Expectations By $0.06 EPS

Ituran Location and Control (NASDAQ:ITRN) released its quarterly earnings data on Tuesday. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.06, Zacks reports. The company had revenue of $92.28 million during the quarter, compared to the consensus estimate of $86.52 million. Ituran Location and Control had a net margin of 16.35% and a return on equity of 28.24%.

Ituran Location and Control Stock Performance

Shares of ITRN opened at $36.93 on Tuesday. Ituran Location and Control has a fifty-two week low of $26.60 and a fifty-two week high of $45.43. The company has a market capitalization of $734.54 million, a price-to-earnings ratio of 13.24 and a beta of 0.88. The firm has a 50-day simple moving average of $36.67 and a 200-day simple moving average of $37.41.

Institutional Trading of Ituran Location and Control

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Man Group plc increased its holdings in shares of Ituran Location and Control by 90.8% in the second quarter. Man Group plc now owns 137,657 shares of the industrial products company’s stock valued at $5,331,000 after purchasing an additional 65,502 shares during the period. Qube Research & Technologies Ltd lifted its holdings in shares of Ituran Location and Control by 28.1% during the second quarter. Qube Research & Technologies Ltd now owns 108,806 shares of the industrial products company’s stock worth $4,214,000 after purchasing an additional 23,873 shares during the period. First Trust Advisors LP grew its position in Ituran Location and Control by 17.1% in the 2nd quarter. First Trust Advisors LP now owns 67,593 shares of the industrial products company’s stock valued at $2,618,000 after buying an additional 9,867 shares during the last quarter. Lazard Asset Management LLC grew its position in Ituran Location and Control by 9.1% in the 3rd quarter. Lazard Asset Management LLC now owns 65,016 shares of the industrial products company’s stock valued at $2,322,000 after buying an additional 5,409 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Ituran Location and Control by 23.5% in the 2nd quarter. Legal & General Group Plc now owns 19,413 shares of the industrial products company’s stock valued at $752,000 after buying an additional 3,696 shares during the period. 94.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ituran Location and Control in a research report on Wednesday, October 8th. Wall Street Zen downgraded Ituran Location and Control from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Ituran Location and Control presently has a consensus rating of “Buy” and a consensus target price of $50.00.

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.