Zacks Investment Research Lowers Ituran (ITRN) to Hold

Zacks Investment Research cut shares of Ituran (NASDAQ:ITRN) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

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. “

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Separately, BidaskClub cut shares of Ituran from a hold rating to a sell rating in a research report on Saturday, January 6th.

ITRN opened at $31.10 on Friday. Ituran has a 1 year low of $28.50 and a 1 year high of $38.00. The company has a market capitalization of $652.10, a P/E ratio of 14.88 and a beta of 0.78.

Ituran (NASDAQ:ITRN) last released its earnings results on Tuesday, February 27th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter. Ituran had a net margin of 18.36% and a return on equity of 34.76%. The business had revenue of $61.29 million for the quarter. analysts anticipate that Ituran will post 2.47 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 11th. Investors of record on Tuesday, March 27th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 26th. This represents a $0.96 annualized dividend and a dividend yield of 3.09%. Ituran’s dividend payout ratio is presently 45.93%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California Public Employees Retirement System boosted its position in shares of Ituran by 30.5% in the third quarter. California Public Employees Retirement System now owns 14,351 shares of the industrial products company’s stock worth $517,000 after acquiring an additional 3,351 shares during the last quarter. Two Sigma Investments LP lifted its position in Ituran by 23.4% during the fourth quarter. Two Sigma Investments LP now owns 25,010 shares of the industrial products company’s stock valued at $855,000 after buying an additional 4,741 shares in the last quarter. Advisor Group Inc. lifted its position in Ituran by 470.7% during the fourth quarter. Advisor Group Inc. now owns 5,861 shares of the industrial products company’s stock valued at $200,000 after buying an additional 4,834 shares in the last quarter. State Street Corp lifted its position in Ituran by 4.3% during the second quarter. State Street Corp now owns 122,647 shares of the industrial products company’s stock valued at $3,840,000 after buying an additional 5,008 shares in the last quarter. Finally, ARK Investment Management LLC acquired a new position in Ituran during the fourth quarter valued at approximately $233,000. 54.51% of the stock is currently owned by institutional investors and hedge funds.

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Ituran 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 enable 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 personal locator services that allow customers to protect valuable merchandise and equipment.

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