Itochu (OTCMKTS:ITOCY) Raised to “Hold” at Zacks Research

Itochu (OTCMKTS:ITOCY) was upgraded by investment analysts at Zacks Research to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Separately, The Goldman Sachs Group started 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat, Itochu presently has a consensus rating of “Moderate Buy”.

Itochu Stock Down 2.9%

Shares of OTCMKTS ITOCY opened at $12.93 on Monday. The stock has a market capitalization of $93.03 billion, a P/E ratio of 1.39 and a beta of 0.69. The stock’s fifty day moving average is $108.55 and its 200 day moving average is $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.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ITOCY. Salomon & Ludwin LLC grew its position in 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. increased its stake in shares of Itochu by 38.0% in the second quarter. First Horizon Advisors Inc. now owns 454 shares of the company’s stock valued at $48,000 after buying an additional 125 shares during the period. GAMMA Investing LLC raised its holdings in Itochu by 79.0% in 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. Finally, Confluence Investment Management LLC boosted its position in Itochu by 8.6% during the 3rd quarter. Confluence Investment Management LLC now owns 9,381 shares of the company’s stock worth $1,080,000 after buying an additional 745 shares during the period. 0.08% of the stock is currently owned by institutional investors and hedge funds.

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.