Itochu (OTCMKTS:ITOCY) Shares Gap Up – Should You Buy?

Itochu Corp. (OTCMKTS:ITOCY)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $14.10, but opened at $15.00. Itochu shares last traded at $14.7670, with a volume of 78,793 shares changing hands.

Itochu Stock Up 0.3%

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 stock has a market capitalization of $117.56 billion, a PE ratio of 15.95 and a beta of 0.63. The stock’s fifty day simple moving average is $12.64 and its 200-day simple moving average is $12.55.

Itochu (OTCMKTS:ITOCY) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.01). The company had revenue of $24.75 billion for the quarter, compared to analyst estimates of $22.01 billion. As a group, sell-side analysts forecast that Itochu Corp. will post 0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ITOCY. Confluence Investment Management LLC raised its position in shares of Itochu by 1.1% in the second 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 during the period. Aristotle Capital Management LLC increased its holdings in shares of Itochu by 897.0% in 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 increased its stake in Itochu by 898.1% in the 1st quarter. OLD National Bancorp IN now owns 15,551 shares of the company’s stock worth $193,000 after acquiring an additional 13,993 shares during the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new stake in Itochu in the fourth quarter valued at approximately $279,000. Hedge funds and other institutional investors own 0.08% of the company’s stock.

Itochu Company Profile

Itochu Corporation is a diversified Japanese general trading company, or sogo shosha, that develops and manages businesses across multiple industries. The company is involved in the sourcing, distribution, financing and investment of products and services through global supply chains.

Its principal business areas include textiles; metals and minerals; food; machinery; energy and chemicals; general products and real estate; and information, communications and financial services. Its activities range from apparel and food distribution to infrastructure, industrial equipment, natural resources, consumer products, logistics, information technology and financial solutions.

Founded in 1858 by Chubei Itoh as a textile-trading business, Itochu has expanded into an international enterprise with operations and business partners in Japan and markets throughout Asia, North America, Europe and other regions.