Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) Short Interest Down 20.0% in September

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 20,400 shares, a decline of 20.0% from the August 31st total of 25,500 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average trading volume of 41,700 shares, the days-to-cover ratio is presently 0.5 days.

A number of analysts have issued reports on ITRN shares. Jefferies Financial Group cut shares of Ituran Location and Control Ltd. (US) from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research note on Tuesday, July 21st. BidaskClub cut shares of Ituran Location and Control Ltd. (US) from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 23rd. ValuEngine cut shares of Ituran Location and Control Ltd. (US) from a “hold” rating to a “sell” rating in a research note on Tuesday, September 1st. Zacks Investment Research cut shares of Ituran Location and Control Ltd. (US) from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 23rd. Finally, TheStreet cut shares of Ituran Location and Control Ltd. (US) from a “c” rating to a “d+” rating in a research note on Friday, August 28th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $16.00.

ITRN stock traded up $0.70 on Thursday, reaching $14.62. 29,529 shares of the company were exchanged, compared to its average volume of 59,934. Ituran Location and Control Ltd. has a 12 month low of $11.01 and a 12 month high of $26.45. The stock’s fifty day moving average price is $14.16 and its 200 day moving average price is $15.39. The firm has a market capitalization of $297.08 million, a PE ratio of -33.14 and a beta of 1.26. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.70 and a quick ratio of 1.43.

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) last announced its quarterly earnings results on Tuesday, August 25th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.16. Ituran Location and Control Ltd. (US) had a negative net margin of 3.45% and a positive return on equity of 21.07%. As a group, research analysts expect that Ituran Location and Control Ltd. will post 1.16 EPS for the current fiscal year.

Several large investors have recently modified their holdings of ITRN. Phoenix Holdings Ltd. boosted its stake in shares of Ituran Location and Control Ltd. (US) by 51.1% in the 1st quarter. Phoenix Holdings Ltd. now owns 748,271 shares of the industrial products company’s stock valued at $10,531,000 after purchasing an additional 252,948 shares in the last quarter. FMR LLC boosted its stake in shares of Ituran Location and Control Ltd. (US) by 2.9% in the 2nd quarter. FMR LLC now owns 2,081,250 shares of the industrial products company’s stock valued at $33,341,000 after purchasing an additional 58,200 shares in the last quarter. State Street Corp boosted its stake in shares of Ituran Location and Control Ltd. (US) by 30.5% in the 1st quarter. State Street Corp now owns 184,805 shares of the industrial products company’s stock valued at $2,666,000 after purchasing an additional 43,199 shares in the last quarter. US Bancorp DE acquired a new stake in shares of Ituran Location and Control Ltd. (US) in the 1st quarter valued at $387,000. Finally, California Public Employees Retirement System boosted its stake in shares of Ituran Location and Control Ltd. (US) by 105.3% in the 2nd quarter. California Public Employees Retirement System now owns 43,223 shares of the industrial products company’s stock valued at $692,000 after purchasing an additional 22,170 shares in the last quarter. Institutional investors own 62.51% of the company’s stock.

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.

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