Ituran Location and Control (ITRN) Downgraded by Telsey Advisory Group

Ituran Location and Control (NASDAQ:ITRN) was downgraded by research analysts at Telsey Advisory Group from an “outperform” rating to a “market perform” rating in a report issued on Friday, November 17th. They presently have a $36.00 price objective on the industrial products company’s stock. Telsey Advisory Group’s target price suggests a potential upside of 2.86% from the stock’s previous close.

Several other brokerages also recently weighed in on ITRN. Zacks Investment Research downgraded shares of Ituran Location and Control from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Chardan Capital cut shares of Ituran Location and Control from a “buy” rating to a “neutral” rating and set a $36.00 price target on the stock. in a research note on Friday, November 17th. Finally, BidaskClub raised shares of Ituran Location and Control from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 17th.

Shares of Ituran Location and Control (NASDAQ:ITRN) remained flat at $$35.00 during mid-day trading on Friday. 28,494 shares of the company’s stock traded hands, compared to its average volume of 40,320. The stock has a market cap of $731.79, a P/E ratio of 16.94 and a beta of 0.82. Ituran Location and Control has a 1-year low of $25.05 and a 1-year high of $38.00.

A number of hedge funds have recently modified their holdings of ITRN. Wells Fargo & Company MN grew its stake in Ituran Location and Control by 30.8% in the 2nd quarter. Wells Fargo & Company MN now owns 4,579 shares of the industrial products company’s stock worth $143,000 after acquiring an additional 1,078 shares in the last quarter. New York State Common Retirement Fund grew its stake 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 acquiring an additional 2,263 shares in the last quarter. ETF Managers Group LLC bought a new position in Ituran Location and Control in the 2nd quarter worth about $228,000. Covey Capital Advisors LLC bought a new position in Ituran Location and Control in the 2nd quarter worth about $252,000. Finally, California Public Employees Retirement System bought a new position in Ituran Location and Control in the 2nd quarter worth about $344,000. Institutional investors and hedge funds 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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