Ituran Location and Control (NASDAQ:ITRN) Stock Price Up 8.1% – Time to Buy?

Ituran Location and Control Ltd. (NASDAQ:ITRN) rose 8.1% during trading on Thursday . The stock traded as high as $29.47 and last traded at $29.47. Approximately 41,710 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 57,475 shares. The stock had previously closed at $27.26.

Ituran Location and Control Trading Up 4.5 %

The firm has a market cap of $566.87 million, a P/E ratio of 10.69 and a beta of 1.14. The business’s 50-day moving average is $27.01 and its two-hundred day moving average is $26.73.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings results on Monday, August 19th. The industrial products company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. Ituran Location and Control had a return on equity of 28.43% and a net margin of 15.42%. The business had revenue of $84.87 million for the quarter.

Institutional Trading of Ituran Location and Control

Several hedge funds have recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of 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 valued at $38,000 after buying an additional 598 shares during the last quarter. Copeland Capital Management LLC acquired a new position in Ituran Location and Control during the 3rd quarter worth $50,000. Public Employees Retirement System of Ohio bought a new position in shares of Ituran Location and Control in the third quarter worth $137,000. BNP Paribas Financial Markets increased its holdings in shares of Ituran Location and Control by 214.2% during the third 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 period. Finally, Blair William & Co. IL bought a new stake in shares of Ituran Location and Control during the first quarter valued at about $203,000. 94.80% of the stock is currently owned by institutional investors.

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.