Ituran Location and Control (NASDAQ:ITRN) Reaches New 12-Month High – Time to Buy?

Ituran Location and Control Ltd. (NASDAQ:ITRN)’s share price hit a new 52-week high on Thursday . The company traded as high as $43.83 and last traded at $41.90, with a volume of 1086725 shares traded. The stock had previously closed at $41.42.

Ituran Location and Control Stock Down 0.4 %

The company has a 50 day simple moving average of $32.93 and a 200-day simple moving average of $29.52. The stock has a market capitalization of $825.83 million, a price-to-earnings ratio of 15.91 and a beta of 1.15.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $0.69 earnings per share (EPS) for the quarter. Ituran Location and Control had a return on equity of 28.31% and a net margin of 15.65%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in Ituran Location and Control by 63.4% in the 3rd quarter. Blue Trust Inc. now owns 1,541 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 598 shares during the period. Foundations Investment Advisors LLC bought a new position in Ituran Location and Control during the 3rd quarter valued at approximately $228,000. Semanteon Capital Management LP purchased a new position in shares of Ituran Location and Control in the 3rd quarter worth about $225,000. Meitav Investment House Ltd. bought a new stake in shares of Ituran Location and Control during the third quarter valued at approximately $250,000. Finally, Rice Hall James & Associates LLC raised its stake in shares of Ituran Location and Control by 16.4% in the third quarter. Rice Hall James & Associates LLC now owns 516,699 shares of the industrial products company’s stock worth $13,713,000 after purchasing an additional 72,656 shares during the last quarter. Hedge funds and other institutional investors own 94.80% of the company’s stock.

About Ituran Location and Control

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.