Barclays Issues Positive Forecast for Ituran Location and Control (NASDAQ:ITRN) Stock Price

Ituran Location and Control (NASDAQ:ITRN) had its target price boosted by stock analysts at Barclays from $35.00 to $50.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Barclays‘s price target suggests a potential upside of 7.73% from the stock’s current price.

Ituran Location and Control Trading Up 15.5 %

Shares of NASDAQ:ITRN opened at $46.41 on Thursday. The company has a market cap of $923.30 million, a price-to-earnings ratio of 17.78 and a beta of 1.15. Ituran Location and Control has a 12 month low of $24.12 and a 12 month high of $45.24. The company has a 50-day moving average price of $33.83 and a 200 day moving average price of $29.99.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. Ituran Location and Control had a return on equity of 28.31% and a net margin of 15.65%. The business had revenue of $82.88 million during the quarter, compared to the consensus estimate of $81.81 million.

Institutional Investors Weigh In On Ituran Location and Control

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in 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 valued at $1,047,000 after purchasing an additional 14,527 shares during the last quarter. HighTower Advisors LLC acquired a new stake in Ituran Location and Control during the 3rd quarter valued at $767,000. Assenagon Asset Management S.A. acquired a new stake in Ituran Location and Control during the 4th quarter valued at $835,000. Blue Trust Inc. lifted its holdings in Ituran Location and Control by 63.4% during the 3rd quarter. Blue Trust Inc. now owns 1,541 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 598 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position 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 worth $160,000 after buying an additional 4,098 shares during the period. Institutional investors and hedge funds own 94.80% of the company’s stock.

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.