Itochu (OTCMKTS:ITOCY) Stock Rating Upgraded by Nomura

Itochu (OTCMKTS:ITOCY) was upgraded by equities research analysts at Nomura to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on ITOCY. The Goldman Sachs Group started coverage on Itochu in a report on Tuesday, January 6th. They set a “buy” rating on the stock. Zacks Research raised Itochu to a “hold” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Itochu Trading Up 0.1%

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 stock’s 50-day simple moving average is $40.10 and its two-hundred day simple moving average is $89.74. Itochu has a twelve month low of $8.15 and a twelve month high of $15.10. The company has a market capitalization of $113.07 billion, a price-to-earnings ratio of 15.18 and a beta of 0.69.

Hedge Funds Weigh In On Itochu

Several institutional investors and hedge funds have recently bought and sold shares of the stock. First Horizon Advisors Inc. increased its stake in Itochu by 38.0% in 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 period. Salomon & Ludwin LLC boosted its stake 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 purchasing an additional 233 shares during the period. GAMMA Investing LLC grew its holdings in shares of Itochu by 21.7% in the third quarter. GAMMA Investing LLC now owns 2,365 shares of the company’s stock worth $272,000 after purchasing an additional 421 shares during the last quarter. Confluence Investment Management LLC grew its holdings in shares of Itochu by 4.8% in 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 last quarter. Finally, OLD National Bancorp IN purchased a new position in shares of Itochu in the fourth quarter worth $201,000. 0.08% of the stock is currently owned by institutional investors.

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.