Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) Cut to “Strong Sell” at BidaskClub

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BidaskClub cut shares of Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) from a sell rating to a strong sell rating in a report released on Wednesday morning, BidAskClub reports.

A number of other equities research analysts also recently weighed in on ITRN. Zacks Investment Research downgraded shares of Ituran Location and Control Ltd. (US) from a hold rating to a sell rating in a report on Saturday, April 27th. Barclays started coverage on shares of Ituran Location and Control Ltd. (US) in a report on Thursday, May 16th. They issued an overweight rating and a $42.00 price target for the company.

ITRN stock opened at $31.00 on Wednesday. Ituran Location and Control Ltd. has a fifty-two week low of $29.25 and a fifty-two week high of $38.50. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.83 and a quick ratio of 1.55. The stock has a market capitalization of $677.38 million, a P/E ratio of 12.65, a P/E/G ratio of 0.72 and a beta of 0.93.

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) last issued its quarterly earnings results on Tuesday, May 21st. The industrial products company reported $0.50 earnings per share 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 analyst estimates of $86.76 million. On average, analysts anticipate that Ituran Location and Control Ltd. will post 2.75 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Thursday, June 20th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.10%. This is an increase from Ituran Location and Control Ltd. (US)’s previous quarterly dividend of $0.23. The ex-dividend date is Wednesday, June 19th. Ituran Location and Control Ltd. (US)’s dividend payout ratio is presently 37.55%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Brasada Capital Management LP raised its holdings in Ituran Location and Control Ltd. (US) by 17.9% during the 4th quarter. Brasada Capital Management LP now owns 12,750 shares of the industrial products company’s stock worth $409,000 after buying an additional 1,940 shares during the period. River Road Asset Management LLC raised its holdings in Ituran Location and Control Ltd. (US) by 0.5% during the 4th quarter. River Road Asset Management LLC now owns 402,535 shares of the industrial products company’s stock worth $12,905,000 after buying an additional 1,910 shares during the period. Opus Capital Group LLC raised its holdings in Ituran Location and Control Ltd. (US) by 2.3% during the 4th quarter. Opus Capital Group LLC now owns 63,726 shares of the industrial products company’s stock worth $2,043,000 after buying an additional 1,450 shares during the period. Prudential Financial Inc. raised its holdings in Ituran Location and Control Ltd. (US) by 71.6% during the 4th quarter. Prudential Financial Inc. now owns 47,933 shares of the industrial products company’s stock worth $1,537,000 after buying an additional 20,006 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Ituran Location and Control Ltd. (US) by 34.1% during the 4th quarter. Acadian Asset Management LLC now owns 87,636 shares of the industrial products company’s stock worth $2,808,000 after buying an additional 22,275 shares during the period. 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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