Wall Street Zen Downgrades Ituran Location and Control (NASDAQ:ITRN) to Buy

Ituran Location and Control (NASDAQ:ITRN) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Ituran Location and Control Stock Performance

Shares of ITRN opened at $39.28 on Friday. Ituran Location and Control has a 52 week low of $24.17 and a 52 week high of $45.43. The firm has a market cap of $781.28 million, a P/E ratio of 14.13 and a beta of 0.82. The firm’s 50-day simple moving average is $37.01 and its 200 day simple moving average is $35.54.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. Ituran Location and Control had a net margin of 16.35% and a return on equity of 29.19%. The business had revenue of $86.46 million for the quarter, compared to analyst estimates of $88.47 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership increased its holdings in shares of Ituran Location and Control by 26.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 274,562 shares of the industrial products company’s stock worth $8,553,000 after purchasing an additional 56,956 shares during the period. Millennium Management LLC increased its holdings in shares of Ituran Location and Control by 8.8% during the fourth quarter. Millennium Management LLC now owns 228,537 shares of the industrial products company’s stock worth $7,119,000 after purchasing an additional 18,563 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in shares of Ituran Location and Control by 61.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 12,248 shares of the industrial products company’s stock worth $382,000 after purchasing an additional 4,648 shares during the period. Bank of America Corp DE increased its holdings in shares of Ituran Location and Control by 147.5% during the fourth quarter. Bank of America Corp DE now owns 8,707 shares of the industrial products company’s stock worth $271,000 after purchasing an additional 5,189 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Ituran Location and Control during the first quarter worth approximately $637,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

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.