Itochu (OTCMKTS:ITOCY) Rating Increased to Hold at Zacks Research

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

Separately, The Goldman Sachs Group assumed coverage on shares of Itochu in a research report on Tuesday, January 6th. They set a “buy” rating for the company. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Itochu has a consensus rating of “Moderate Buy”.

Itochu Stock Performance

ITOCY stock traded down $0.02 during midday trading on Monday, reaching $12.91. The stock had a trading volume of 193,611 shares, compared to its average volume of 286,482. The firm has a fifty day simple moving average of $108.55 and a two-hundred day simple moving average of $110.12. Itochu has a 52-week low of $7.91 and a 52-week high of $13.80. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.96 and a current ratio of 1.30. The stock has a market cap of $92.87 billion, a PE ratio of 1.39 and a beta of 0.69.

Itochu (OTCMKTS:ITOCY) last announced its quarterly earnings data 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 firm had revenue of $24.06 billion during the quarter, compared to analyst estimates of $24.65 billion.

Hedge Funds Weigh In On Itochu

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC lifted its stake in Itochu by 1,370.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 250 shares of the company’s stock valued at $29,000 after buying an additional 233 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of 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 acquiring an additional 125 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Itochu by 79.0% in the second quarter. GAMMA Investing LLC now owns 1,944 shares of the company’s stock valued at $204,000 after acquiring an additional 858 shares in the last quarter. Finally, Confluence Investment Management LLC boosted its stake in shares of Itochu by 8.6% in the third quarter. Confluence Investment Management LLC now owns 9,381 shares of the company’s stock worth $1,080,000 after acquiring an additional 745 shares during the last quarter. 0.08% of the stock is owned by hedge funds and other institutional investors.

About Itochu

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.