Telsey Advisory Group Lowers Ituran Location and Control (ITRN) to Market Perform

Ituran Location and Control (NASDAQ:ITRN) was downgraded by equities research analysts at Telsey Advisory Group from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Friday, November 17th. They presently have a $36.00 price objective on the industrial products company’s stock. Telsey Advisory Group’s price objective would indicate a potential upside of 0.84% from the stock’s previous close.

Other analysts have also issued reports about the stock. Zacks Investment Research raised shares of Ituran Location and Control from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Tuesday, August 22nd. Chardan Capital lowered shares of Ituran Location and Control from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a research note on Friday, November 17th.

Ituran Location and Control (ITRN) opened at $35.70 on Friday. Ituran Location and Control has a fifty-two week low of $24.70 and a fifty-two week high of $38.00. The firm has a market cap of $748.56, a price-to-earnings ratio of 17.33 and a beta of 0.82.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN boosted its position in Ituran Location and Control by 30.8% in the second quarter. Wells Fargo & Company MN now owns 4,579 shares of the industrial products company’s stock valued at $143,000 after buying an additional 1,078 shares during the last quarter. New York State Common Retirement Fund boosted its position in Ituran Location and Control by 47.8% in the 2nd quarter. New York State Common Retirement Fund now owns 6,994 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 2,263 shares in the last quarter. Royal Bank of Canada boosted its position in Ituran Location and Control by 33.9% in the 2nd quarter. Royal Bank of Canada now owns 11,031 shares of the industrial products company’s stock worth $345,000 after purchasing an additional 2,795 shares in the last quarter. California Public Employees Retirement System boosted its position in Ituran Location and Control by 30.5% in the 3rd quarter. California Public Employees Retirement System now owns 14,351 shares of the industrial products company’s stock worth $517,000 after purchasing an additional 3,351 shares in the last quarter. Finally, Eagle Global Advisors LLC boosted its position in Ituran Location and Control by 14.3% in the 2nd quarter. Eagle Global Advisors LLC now owns 27,896 shares of the industrial products company’s stock worth $873,000 after purchasing an additional 3,500 shares in the last quarter. Hedge funds and other institutional investors own 52.63% of the company’s stock.

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About Ituran Location and Control

Ituran Location and Control Ltd. is a provider of location-based services, consisting of stolen vehicle recovery (SVR), fleet management services and other tracking services. The Company also provides wireless communication products used in connection with its location-based services and various other applications.

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