Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) Short Interest Update

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) was the recipient of a significant drop in short interest in June. As of June 30th, there was short interest totalling 27,500 shares, a drop of 41.5% from the June 15th total of 47,000 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 77,100 shares, the short-interest ratio is currently 0.4 days.

ITRN has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Ituran Location and Control Ltd. (US) from a “sell” rating to a “hold” rating in a research report on Friday, May 15th. BidaskClub lowered shares of Ituran Location and Control Ltd. (US) from a “hold” rating to a “sell” rating in a research report on Friday. Finally, ValuEngine raised shares of Ituran Location and Control Ltd. (US) from a “hold” rating to a “buy” rating in a research note on Friday, March 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $34.00.

Several hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in shares of Ituran Location and Control Ltd. (US) by 10.4% during the fourth quarter. Bank of America Corp DE now owns 4,513 shares of the industrial products company’s stock valued at $113,000 after acquiring an additional 425 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Ituran Location and Control Ltd. (US) by 13,493.3% during the first quarter. Tower Research Capital LLC TRC now owns 2,039 shares of the industrial products company’s stock worth $29,000 after buying an additional 2,024 shares during the last quarter. ETF Managers Group LLC raised its stake in Ituran Location and Control Ltd. (US) by 9.8% during the first quarter. ETF Managers Group LLC now owns 27,914 shares of the industrial products company’s stock worth $393,000 after buying an additional 2,480 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Ituran Location and Control Ltd. (US) during the first quarter worth $44,000. Finally, Geode Capital Management LLC raised its stake in Ituran Location and Control Ltd. (US) by 15.7% during the first quarter. Geode Capital Management LLC now owns 25,429 shares of the industrial products company’s stock worth $361,000 after buying an additional 3,448 shares during the last quarter. 61.27% of the stock is owned by hedge funds and other institutional investors.

Shares of ITRN stock traded up $0.09 during trading hours on Friday, hitting $16.14. 25,156 shares of the company’s stock traded hands, compared to its average volume of 51,252. The stock’s 50 day simple moving average is $16.80 and its 200 day simple moving average is $19.82. The stock has a market cap of $344.46 million, a PE ratio of 64.56 and a beta of 1.32. Ituran Location and Control Ltd. has a 12 month low of $11.01 and a 12 month high of $31.28. The company has a quick ratio of 1.35, a current ratio of 1.60 and a debt-to-equity ratio of 0.36.

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) last released its quarterly earnings results on Wednesday, May 13th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The firm had revenue of $68.37 million during the quarter, compared to the consensus estimate of $61.88 million. Ituran Location and Control Ltd. (US) had a net margin of 1.90% and a return on equity of 20.91%. As a group, equities research analysts expect that Ituran Location and Control Ltd. will post 1 EPS for the current fiscal year.

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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