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

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

Several other brokerages have also recently issued reports on ITRN. Zacks Investment Research cut Ituran Location and Control Ltd. (US) from a hold rating to a sell rating in a research note on Thursday, May 23rd. Barclays set a $39.00 price objective on Ituran Location and Control Ltd. (US) and gave the company a buy rating in a research note on Thursday, May 23rd.

Shares of NASDAQ ITRN opened at $26.79 on Wednesday. The stock has a market cap of $571.70 million, a P/E ratio of 10.93, a PEG ratio of 0.73 and a beta of 0.83. The company has a current ratio of 1.83, a quick ratio of 1.55 and a debt-to-equity ratio of 0.40. Ituran Location and Control Ltd. has a 12-month low of $26.78 and a 12-month high of $38.50. The business’s fifty day simple moving average is $29.36 and its 200-day simple moving average is $32.86.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.17). The company had revenue of $73.60 million during the quarter, compared to analyst estimates of $86.76 million. Ituran Location and Control Ltd. (US) had a net margin of 23.24% and a return on equity of 32.82%. On average, equities analysts forecast that Ituran Location and Control Ltd. will post 2.33 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of ITRN. Delek Group Ltd. increased its holdings in 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 valued at $16,138,000 after buying an additional 199,523 shares during the last quarter. Schroder Investment Management Group increased its holdings in Ituran Location and Control Ltd. (US) by 43.9% in the second quarter. Schroder Investment Management Group now owns 381,279 shares of the industrial products company’s stock valued at $11,473,000 after buying an additional 116,300 shares during the last quarter. Morgan Stanley increased its holdings in Ituran Location and Control Ltd. (US) by 83.8% in the second quarter. Morgan Stanley now owns 155,503 shares of the industrial products company’s stock valued at $4,679,000 after buying an additional 70,890 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Ituran Location and Control Ltd. (US) by 4.2% in the second quarter. Renaissance Technologies LLC now owns 1,441,800 shares of the industrial products company’s stock valued at $43,384,000 after buying an additional 58,100 shares during the last quarter. Finally, Royce & Associates LP purchased a new position in Ituran Location and Control Ltd. (US) in the first quarter valued at $1,708,000. 59.48% of the stock is currently owned by hedge funds and other 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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