Itochu (OTCMKTS:ITOCY) Upgraded at Zacks Research

Zacks Research upgraded shares of Itochu (OTCMKTS:ITOCY) to a hold rating in a research note published on Monday,Zacks.com reports.

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

Itochu Stock Down 0.1%

Shares of OTCMKTS ITOCY opened at $12.92 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.30 and a debt-to-equity ratio of 0.41. The company has a market cap of $92.96 billion, a P/E ratio of 13.74 and a beta of 0.69. Itochu has a 52 week low of $7.91 and a 52 week high of $13.80. The business has a 50-day simple moving average of $106.38 and a two-hundred day simple moving average of $109.44.

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

Institutional Trading of Itochu

Institutional investors and hedge funds have recently made changes to their positions in the stock. Salomon & Ludwin LLC lifted its holdings in shares of Itochu by 1,370.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 250 shares of the company’s stock worth $29,000 after acquiring an additional 233 shares during the last quarter. First Horizon Advisors Inc. raised its position in Itochu by 38.0% during the second quarter. First Horizon Advisors Inc. now owns 454 shares of the company’s stock valued at $48,000 after purchasing an additional 125 shares in the last quarter. GAMMA Investing LLC lifted its stake in Itochu by 79.0% during the second quarter. GAMMA Investing LLC now owns 1,944 shares of the company’s stock worth $204,000 after purchasing an additional 858 shares during the last quarter. Finally, Confluence Investment Management LLC boosted 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 worth $1,080,000 after purchasing an additional 745 shares in the last quarter. Hedge funds and other institutional investors own 0.08% of the company’s stock.

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.