Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) Short Interest Down 58.8% in July

Share on StockTwits

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totalling 81,500 shares, a decline of 58.8% from the June 30th total of 197,700 shares. Based on an average daily trading volume, of 80,400 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.5% of the company’s stock are sold short.

Shares of ITRN stock opened at $28.65 on Wednesday. The stock has a fifty day simple moving average of $29.82. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.55 and a current ratio of 1.83. The company has a market capitalization of $611.45 million, a price-to-earnings ratio of 11.69, a PEG ratio of 0.76 and a beta of 0.83. Ituran Location and Control Ltd. has a 12 month low of $27.75 and a 12 month high of $38.50.

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 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.17). The business had revenue of $73.60 million during the quarter, compared to the consensus estimate of $86.76 million. Ituran Location and Control Ltd. (US) had a return on equity of 32.82% and a net margin of 23.24%. As a group, equities analysts predict that Ituran Location and Control Ltd. will post 2.33 EPS for the current year.

A number of research analysts have weighed in on the stock. Barclays set a $39.00 price target on shares of Ituran Location and Control Ltd. (US) and gave the company a “buy” rating in a research note on Thursday, May 23rd. Zacks Investment Research lowered shares of Ituran Location and Control Ltd. (US) from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Finally, BidaskClub raised shares of Ituran Location and Control Ltd. (US) from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 3rd.

Several hedge funds have recently made changes to their positions in ITRN. Delek Group Ltd. lifted its position in shares of Ituran Location and Control Ltd. (US) by 73.2% in the first quarter. Delek Group Ltd. now owns 471,936 shares of the industrial products company’s stock worth $16,138,000 after purchasing an additional 199,523 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in Ituran Location and Control Ltd. (US) by 48.7% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 439,622 shares of the industrial products company’s stock worth $15,112,000 after acquiring an additional 143,920 shares in the last quarter. Schroder Investment Management Group raised its position in Ituran Location and Control Ltd. (US) by 43.9% during the second quarter. Schroder Investment Management Group now owns 381,279 shares of the industrial products company’s stock worth $11,473,000 after acquiring an additional 116,300 shares in the last quarter. Renaissance Technologies LLC raised its position in Ituran Location and Control Ltd. (US) by 4.2% during the second quarter. Renaissance Technologies LLC now owns 1,441,800 shares of the industrial products company’s stock worth $43,384,000 after acquiring an additional 58,100 shares in the last quarter. Finally, Royce & Associates LP bought a new stake in Ituran Location and Control Ltd. (US) during the first quarter worth $1,708,000. 60.10% of the stock is currently owned by institutional investors and hedge funds.

About Ituran Location and Control Ltd. (US)

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.

Read More: Blue-Chip Stocks

Receive News & Ratings for Ituran Location and Control Ltd. (US) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ituran Location and Control Ltd. (US) and related companies with MarketBeat.com's FREE daily email newsletter.