Itochu (OTCMKTS:ITOCY) Stock Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Itochu Corp. (OTCMKTS:ITOCY) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $40.22 and traded as low as $11.42. Itochu shares last traded at $11.43, with a volume of 525,222 shares traded.

Wall Street Analysts Forecast Growth

ITOCY has been the subject of a number of recent research reports. Nomura upgraded Itochu to a “strong-buy” rating in a research note on Wednesday, February 25th. Daiwa Securities Group upgraded Itochu to a “strong-buy” rating in a research note on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Itochu Trading Down 1.6%

The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.32. The stock has a market capitalization of $90.58 billion, a PE ratio of 12.84 and a beta of 0.62. The stock has a 50-day moving average price of $12.46 and a two-hundred day moving average price of $40.22.

Itochu (OTCMKTS:ITOCY) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. The company had revenue of $24.49 billion for the quarter, compared to analysts’ expectations of $28.52 billion. As a group, equities analysts forecast that Itochu Corp. will post 0.86 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Aristotle Capital Management LLC lifted its position in shares of Itochu by 897.0% during the 1st quarter. Aristotle Capital Management LLC now owns 117,267 shares of the company’s stock valued at $1,468,000 after buying an additional 105,505 shares in the last quarter. OLD National Bancorp IN lifted its position in shares of Itochu by 898.1% during the 1st quarter. OLD National Bancorp IN now owns 15,551 shares of the company’s stock valued at $193,000 after buying an additional 13,993 shares in the last quarter. Confluence Investment Management LLC lifted its holdings in Itochu by 4.8% in the 4th 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 in the last quarter. GAMMA Investing LLC lifted its holdings in Itochu by 21.8% in the 4th quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $364,000 after purchasing an additional 516 shares in the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new position in Itochu in the 4th quarter worth approximately $279,000. 0.08% of the stock is owned by hedge funds and other institutional investors.

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.