Itochu (OTCMKTS:ITOCY) Stock Price Crosses Below 200-Day Moving Average – Should You Sell?

Shares of Itochu Corp. (OTCMKTS:ITOCY) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $55.31 and traded as low as $12.81. Itochu shares last traded at $12.85, with a volume of 256,901 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ITOCY. Nomura raised Itochu to a “strong-buy” rating in a report on Wednesday, February 25th. Zacks Research raised shares of Itochu to a “hold” rating in a report on Monday, January 12th. Finally, Daiwa Securities Group raised shares of Itochu to a “strong-buy” rating in a report on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

Itochu Stock Performance

The company has a market cap of $101.83 billion, a P/E ratio of 14.44 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. The business has a fifty day simple moving average of $12.85 and a two-hundred day simple moving average of $55.31.

Itochu (OTCMKTS:ITOCY) last released its quarterly earnings results on Friday, May 1st. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $24.49 billion for the quarter, compared to the consensus estimate of $28.52 billion. On average, sell-side analysts anticipate that Itochu Corp. will post 0.44 EPS for the current year.

Hedge Funds Weigh In On Itochu

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Confluence Investment Management LLC grew its stake in shares of Itochu by 4.8% during the 4th quarter. Confluence Investment Management LLC now owns 9,827 shares of the company’s stock valued at $1,243,000 after acquiring an additional 446 shares during the period. GAMMA Investing LLC raised its position in shares of Itochu by 21.8% during the 4th quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock valued at $364,000 after purchasing an additional 516 shares during the period. OLD National Bancorp IN bought a new stake in shares of Itochu during the 4th quarter valued at $201,000. Atlas Capital Advisors Inc. purchased a new position in shares of Itochu during the 4th quarter valued at $279,000. Finally, Aristotle Capital Management LLC bought a new stake in Itochu during the fourth quarter valued at about $1,487,000. 0.08% of the stock is currently owned by hedge funds and other 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.