Itochu (OTCMKTS:ITOCY) Sees Unusually-High Trading Volume – Still a Buy?

Itochu Corp. (OTCMKTS:ITOCY) shares saw unusually-strong trading volume on Tuesday . Approximately 955,391 shares were traded during mid-day trading, an increase of 144% from the previous session’s volume of 391,515 shares.The stock last traded at $12.93 and had previously closed at $12.96.

Analyst Upgrades and Downgrades

ITOCY has been the subject of several recent research reports. The Goldman Sachs Group initiated coverage on Itochu in a report on Tuesday, January 6th. They set a “buy” rating for the company. Zacks Research upgraded Itochu to a “hold” rating in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Itochu Stock Down 0.8%

The company has a market cap of $101.91 billion, a price-to-earnings ratio of 13.68 and a beta of 0.69. The stock has a 50-day simple moving average of $78.56 and a 200-day simple moving average of $101.13. The company has a current ratio of 1.30, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41.

Itochu (OTCMKTS:ITOCY) last issued 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 company had revenue of $24.06 billion for the quarter, compared to analyst estimates of $24.65 billion.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ITOCY. First Horizon Advisors Inc. increased its stake 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 period. Salomon & Ludwin LLC increased its position in shares of Itochu by 1,370.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 250 shares of the company’s stock valued at $29,000 after purchasing an additional 233 shares during the period. GAMMA Investing LLC increased its position in shares of Itochu by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,365 shares of the company’s stock valued at $272,000 after purchasing an additional 421 shares during the period. Confluence Investment Management LLC raised its stake in shares of Itochu by 4.8% in the 4th quarter. Confluence Investment Management LLC now owns 9,827 shares of the company’s stock worth $1,243,000 after buying an additional 446 shares in the last quarter. Finally, OLD National Bancorp IN acquired a new stake in shares of Itochu in the fourth quarter valued at $201,000. 0.08% of the stock is currently 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.