Ituran Location and Control (NASDAQ:ITRN) Stock Price Expected to Rise, Barclays Analyst Says

Ituran Location and Control (NASDAQ:ITRN) had its price objective boosted by Barclays from $35.00 to $50.00 in a research note released on Thursday,Benzinga reports. Barclays currently has an overweight rating on the industrial products company’s stock.

Ituran Location and Control Trading Down 2.6 %

ITRN stock opened at $42.78 on Thursday. Ituran Location and Control has a one year low of $24.12 and a one year high of $45.43. The firm has a 50-day moving average of $33.83 and a two-hundred day moving average of $29.99. The firm has a market capitalization of $851.07 million, a PE ratio of 16.39 and a beta of 1.15.

Ituran Location and Control (NASDAQ:ITRN) last posted its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Ituran Location and Control had a net margin of 15.65% and a return on equity of 28.31%. The firm had revenue of $82.88 million during the quarter, compared to analyst estimates of $81.81 million.

Ituran Location and Control Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 20th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, March 20th. This is an increase from Ituran Location and Control’s previous quarterly dividend of $0.39. This represents a $2.00 dividend on an annualized basis and a yield of 4.68%. Ituran Location and Control’s payout ratio is presently 59.77%.

Institutional Trading of Ituran Location and Control

A number of institutional investors have recently added to or reduced their stakes in ITRN. JPMorgan Chase & Co. lifted its position in shares of Ituran Location and Control by 58.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 39,464 shares of the industrial products company’s stock worth $1,047,000 after purchasing an additional 14,527 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of Ituran Location and Control in the third quarter valued at approximately $767,000. Assenagon Asset Management S.A. acquired a new stake in shares of Ituran Location and Control in the fourth quarter worth $835,000. Blue Trust Inc. increased its position in Ituran Location and Control by 63.4% during the third quarter. Blue Trust Inc. now owns 1,541 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 598 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in Ituran Location and Control by 214.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,011 shares of the industrial products company’s stock valued at $160,000 after purchasing an additional 4,098 shares during the last quarter. 94.80% of the stock is currently owned by institutional investors and hedge funds.

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.