Ituran Location and Control Ltd. (US) (ITRN) Downgraded by Zacks Investment Research

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “Ituran provides location-based services, consisting predominantly of stolen vehicle recovery and tracking services, as well as wireless communications products used in connection with its location-based services and various other applications. Ituran offers mobile asset location, Stolen Vehicle Recovery, management & control services for vehicles, cargo and personal security, and radio frequency identification products for various purposes including automatic meter reading, electronic toll collection and homeland security applications. “

Several other research firms have also issued reports on ITRN. Barclays started coverage on shares of Ituran Location and Control Ltd. (US) in a research report on Thursday, May 16th. They issued an “overweight” rating and a $42.00 price target on the stock. BidaskClub raised shares of Ituran Location and Control Ltd. (US) from a “sell” rating to a “hold” rating in a research report on Monday, May 20th.

NASDAQ ITRN opened at $32.98 on Thursday. Ituran Location and Control Ltd. has a 12-month low of $29.25 and a 12-month high of $38.50. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.53 and a current ratio of 1.80. The company has a market capitalization of $703.86 million, a PE ratio of 13.46, a price-to-earnings-growth ratio of 0.73 and a beta of 0.81.

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) last posted its quarterly earnings results 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). Ituran Location and Control Ltd. (US) had a net margin of 23.24% and a return on equity of 33.29%. The business had revenue of $73.60 million during the quarter, compared to the consensus estimate of $86.76 million. Research analysts predict that Ituran Location and Control Ltd. will post 2.9 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Noked Capital LTD bought a new stake in Ituran Location and Control Ltd. (US) during the 4th quarter worth approximately $14,942,000. Sphera Funds Management LTD. bought a new stake in Ituran Location and Control Ltd. (US) during the 4th quarter worth approximately $14,637,000. BlackRock Inc. increased its holdings in Ituran Location and Control Ltd. (US) by 4.7% during the 4th quarter. BlackRock Inc. now owns 490,187 shares of the industrial products company’s stock worth $15,717,000 after acquiring an additional 22,220 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Ituran Location and Control Ltd. (US) by 48.7% during the 1st 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 during the period. Finally, Covey Capital Advisors LLC increased its holdings in Ituran Location and Control Ltd. (US) by 7.0% during the 4th quarter. Covey Capital Advisors LLC now owns 52,013 shares of the industrial products company’s stock worth $1,667,000 after acquiring an additional 3,400 shares during the period. 51.27% of the stock is currently owned by institutional investors.

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.

Recommended Story: Why do companies pay special dividends?

Get a free copy of the Zacks research report on Ituran Location and Control Ltd. (US) (ITRN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.