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

BidaskClub cut shares of Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) from a hold rating to a sell rating in a report issued on Tuesday, May 7th, BidAskClub reports.

Separately, Zacks Investment Research lowered Ituran Location and Control Ltd. (US) from a hold rating to a sell rating in a research report on Saturday, April 27th.

ITRN traded down $0.77 during trading on Tuesday, hitting $31.11. The company’s stock had a trading volume of 27,150 shares, compared to its average volume of 46,286. Ituran Location and Control Ltd. has a twelve month low of $29.25 and a twelve month high of $38.50. 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 firm has a market cap of $663.95 million, a PE ratio of 12.70, a price-to-earnings-growth ratio of 0.74 and a beta of 0.81.

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) last issued its earnings results on Tuesday, May 21st. The industrial products company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.17). The firm had revenue of $73.60 million for the quarter, compared to analyst estimates 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%. Research analysts predict that Ituran Location and Control Ltd. will post 2.75 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Thursday, June 20th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Wednesday, June 19th. This is an increase from Ituran Location and Control Ltd. (US)’s previous quarterly dividend of $0.23. Ituran Location and Control Ltd. (US)’s dividend payout ratio is 37.55%.

A number of large investors have recently made changes to their positions in ITRN. Noked Capital LTD bought a new position in shares of Ituran Location and Control Ltd. (US) during the 4th quarter worth $14,942,000. Sphera Funds Management LTD. bought a new position in shares of Ituran Location and Control Ltd. (US) during the 4th quarter worth $14,637,000. BlackRock Inc. boosted its stake in Ituran Location and Control Ltd. (US) by 4.7% in the 4th quarter. BlackRock Inc. now owns 490,187 shares of the industrial products company’s stock worth $15,717,000 after purchasing an additional 22,220 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Ituran Location and Control Ltd. (US) by 48.7% in 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 purchasing an additional 143,920 shares during the period. Finally, Summit Global Investments bought a new position in Ituran Location and Control Ltd. (US) in the 4th quarter worth about $673,000. Hedge funds and other institutional investors own 61.08% of the company’s stock.

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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