Itochu (OTCMKTS:ITOCY) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Shares of Itochu Corp. (OTCMKTS:ITOCY) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $11.74 and traded as high as $12.06. Itochu shares last traded at $11.98, with a volume of 566,744 shares traded.

Itochu Stock Up 0.8%

The firm has a market capitalization of $94.93 billion, a PE ratio of 13.46 and a beta of 0.64. The company has a current ratio of 1.32, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average of $11.74 and a two-hundred day moving average of $13.41.

Itochu (OTCMKTS:ITOCY) last released its quarterly earnings data on Friday, May 1st. The company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The firm had revenue of $24.49 billion during the quarter, compared to analysts’ expectations of $28.52 billion. On average, equities research analysts forecast that Itochu Corp. will post 0.86 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ITOCY. OLD National Bancorp IN acquired a new stake in shares of Itochu in the fourth quarter valued at about $201,000. Atlas Capital Advisors Inc. acquired a new position in shares of Itochu during the fourth quarter worth $279,000. Aristotle Capital Management LLC purchased a new position in shares of Itochu in the fourth quarter valued at $1,487,000. Finally, Confluence Investment Management LLC grew its holdings in Itochu by 1.1% during the 2nd quarter. Confluence Investment Management LLC now owns 103,063 shares of the company’s stock valued at $1,175,000 after purchasing an additional 1,159 shares in 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.