Itochu (OTCMKTS:ITOCY) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

Itochu Corp. (OTCMKTS:ITOCY)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $50.29 and traded as low as $12.55. Itochu shares last traded at $12.66, with a volume of 343,139 shares traded.

Wall Street Analyst Weigh In

ITOCY has been the topic of several analyst reports. Daiwa Securities Group raised shares of Itochu to a “strong-buy” rating in a research report on Friday, February 27th. Nomura raised shares of Itochu to a “strong-buy” rating in a research report on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Itochu currently has an average rating of “Buy”.

Itochu Stock Performance

The firm’s 50-day moving average price is $12.71 and its two-hundred day moving average price is $50.29. The firm has a market capitalization of $100.32 billion, a PE ratio of 14.22 and a beta of 0.65. The company has a quick ratio of 0.96, a current ratio of 1.30 and a debt-to-equity ratio of 0.41.

Itochu (OTCMKTS:ITOCY) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $24.49 billion for the quarter, compared to analyst estimates of $28.52 billion. As a group, research analysts predict that Itochu Corp. will post 0.44 earnings per share for the current fiscal year.

Institutional Trading of Itochu

Several institutional investors have recently made changes to their positions in the stock. Aristotle Capital Management LLC boosted its holdings in shares of Itochu by 897.0% during the first quarter. Aristotle Capital Management LLC now owns 117,267 shares of the company’s stock worth $1,468,000 after purchasing an additional 105,505 shares during the period. OLD National Bancorp IN boosted its holdings in shares of Itochu by 898.1% during the first quarter. OLD National Bancorp IN now owns 15,551 shares of the company’s stock worth $193,000 after purchasing an additional 13,993 shares during the period. Atlas Capital Advisors Inc. acquired a new stake in shares of Itochu during the fourth quarter worth approximately $279,000. Confluence Investment Management LLC boosted its holdings in shares of Itochu by 4.8% during the fourth quarter. Confluence Investment Management LLC now owns 9,827 shares of the company’s stock worth $1,243,000 after purchasing an additional 446 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Itochu by 21.8% during the fourth quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $364,000 after purchasing an additional 516 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.