Itochu (OTCMKTS:ITOCY) Reaches New 12-Month High – Here’s Why

Itochu Corp. (OTCMKTS:ITOCY) reached a new 52-week high during trading on Monday . The stock traded as high as $127.00 and last traded at $127.00, with a volume of 3892 shares trading hands. The stock had previously closed at $12.6520.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group began coverage on shares of Itochu in a report on Tuesday. They set a “buy” rating for the company. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy”.

Itochu Stock Performance

The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.96 and a current ratio of 1.30. The firm’s 50-day moving average price is $118.79 and its two-hundred day moving average price is $113.28. The stock has a market cap of $9.41 billion, a price-to-earnings ratio of 1.40 and a beta of 0.69.

Itochu (OTCMKTS:ITOCY) last issued its earnings results on Wednesday, November 5th. The company reported $2.08 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 the consensus estimate of $24.65 billion.

Institutional Investors Weigh In On Itochu

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ITOCY. GAMMA Investing LLC grew its holdings in shares of Itochu by 79.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,944 shares of the company’s stock worth $204,000 after purchasing an additional 858 shares during the period. Confluence Investment Management LLC boosted its stake in Itochu by 1.4% during the second quarter. Confluence Investment Management LLC now owns 8,636 shares of the company’s stock worth $904,000 after buying an additional 120 shares during the period. First Horizon Advisors Inc. increased its position in shares of Itochu by 38.0% during the second quarter. First Horizon Advisors Inc. now owns 454 shares of the company’s stock valued at $48,000 after acquiring an additional 125 shares during the last quarter. Finally, Salomon & Ludwin LLC increased its position in shares of Itochu by 1,370.6% during the third quarter. Salomon & Ludwin LLC now owns 250 shares of the company’s stock valued at $29,000 after acquiring an additional 233 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.