Itochu (OTCMKTS:ITOCY) Stock Rating Lowered by Zacks Research

Itochu (OTCMKTS:ITOCY) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.

Itochu Trading Up 2.6%

Shares of ITOCY stock opened at $14.76 on Tuesday. Itochu has a 12-month low of $10.91 and a 12-month high of $15.44. The company has a market capitalization of $116.96 billion, a PE ratio of 15.87 and a beta of 0.67. The firm has a 50 day moving average price of $14.27 and a two-hundred day moving average price of $13.02. The company has a quick ratio of 1.02, a current ratio of 1.35 and a debt-to-equity ratio of 0.46.

Itochu (OTCMKTS:ITOCY) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.03. The firm had revenue of $25.59 billion for the quarter, compared to analyst estimates of $25.34 billion. As a group, analysts predict that Itochu will post 0.92 earnings per share for the current year.

Institutional Investors Weigh In On Itochu

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Itochu by 11.1% in the third quarter. GAMMA Investing LLC now owns 31,411 shares of the company’s stock valued at $438,000 after acquiring an additional 3,128 shares during the period. Confluence Investment Management LLC grew its stake 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 acquiring an additional 1,159 shares in the last quarter. Finally, Aristotle Capital Management LLC increased its position in 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 acquiring an additional 105,505 shares during the period. Institutional investors and hedge funds own 0.08% of the company’s stock.

Itochu Company Profile

ITOCHU Corporation is a Japan-based general trading company, or sogo shosha, that develops and manages businesses across multiple industries. Its activities include the trading, distribution, investment and business development of products and services in areas such as textiles, food, metals and minerals, energy and chemicals, machinery, general products, real estate, information and communications technology, and finance.

The company serves customers and business partners through a global network spanning Japan and international markets.