Itochu (OTCMKTS:ITOCY) Rating Increased to Strong-Buy at Nomura

Nomura upgraded shares of Itochu (OTCMKTS:ITOCY) to a strong-buy rating in a report released on Wednesday,Zacks.com reports.

Several other equities analysts have also issued reports on ITOCY. Zacks Research raised Itochu to a “hold” rating in a research note on Monday, January 12th. The Goldman Sachs Group started coverage on shares of Itochu in a research report on Tuesday, January 6th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Itochu presently has a consensus rating of “Buy”.

Itochu Stock Up 0.1%

Shares of OTCMKTS ITOCY opened at $14.27 on Wednesday. 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 business’s 50 day moving average is $40.10 and its two-hundred day moving average is $89.74. Itochu has a 52-week low of $8.15 and a 52-week high of $15.10. The firm has a market cap of $113.07 billion, a price-to-earnings ratio of 15.18 and a beta of 0.69.

Institutional Trading of Itochu

Several hedge funds have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC lifted its stake in Itochu by 1,370.6% in the third 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. lifted its position in shares of Itochu by 38.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 454 shares of the company’s stock worth $48,000 after purchasing an additional 125 shares during the last quarter. OLD National Bancorp IN acquired a new position in shares of Itochu during the fourth quarter worth $201,000. Atlas Capital Advisors Inc. acquired a new position in shares of Itochu during the fourth quarter worth $279,000. Finally, GAMMA Investing LLC increased its holdings in Itochu by 21.7% in the third quarter. GAMMA Investing LLC now owns 2,365 shares of the company’s stock valued at $272,000 after buying an additional 421 shares during the last quarter. Institutional investors and hedge funds 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.