Itochu (OTCMKTS:ITOCY) Stock Rating Upgraded by Zacks Research

Itochu (OTCMKTS:ITOCY) was upgraded by equities researchers at Zacks Research to a “hold” rating in a report issued on Monday,Zacks.com reports.

Separately, The Goldman Sachs Group initiated coverage on shares of Itochu in a report on Tuesday, January 6th. They set a “buy” rating on the stock. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Itochu Stock Performance

ITOCY stock remained flat at $12.93 during trading on Monday. The company had a trading volume of 201,904 shares, compared to its average volume of 287,011. The stock has a 50 day moving average price of $108.55 and a 200-day moving average price of $110.12. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.96 and a current ratio of 1.30. Itochu has a 1-year low of $7.91 and a 1-year high of $13.80. The firm has a market cap of $93.03 billion, a PE ratio of 1.39 and a beta of 0.69.

Itochu (OTCMKTS:ITOCY) last announced its earnings results on Wednesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.10). The company had revenue of $24.06 billion for the quarter, compared to analyst estimates of $24.65 billion.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in shares of Itochu by 79.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,944 shares of the company’s stock valued at $204,000 after buying an additional 858 shares during the last quarter. First Horizon Advisors Inc. increased its stake in Itochu by 38.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 454 shares of the company’s stock worth $48,000 after acquiring an additional 125 shares during the last quarter. Confluence Investment Management LLC raised its holdings in shares of Itochu by 8.6% in the 3rd quarter. Confluence Investment Management LLC now owns 9,381 shares of the company’s stock valued at $1,080,000 after acquiring an additional 745 shares in the last quarter. Finally, Salomon & Ludwin LLC grew its holdings in shares of Itochu by 1,370.6% during the third quarter. Salomon & Ludwin LLC now owns 250 shares of the company’s stock worth $29,000 after purchasing an additional 233 shares in the last quarter. 0.08% of the stock is owned by institutional investors.

Itochu Company Profile

Itochu Corporation is a major Japanese trading company (sogo shosha) that operates a diversified global business spanning trading, investment and services. The company traces its roots to the 19th century and has evolved from a textile trading firm into a broad-based commercial and investment group. Its American Depositary Receipts trade over the counter under the symbol ITOCY.

Itochu conducts commodity and product trading across a wide range of sectors including textiles and apparel, machinery, metals and minerals, energy and chemicals, food and consumer products, information and communications technology, and real estate.