Itochu (OTCMKTS:ITOCY) Upgraded at Zacks Research

Zacks Research upgraded shares of Itochu (OTCMKTS:ITOCY) from a hold rating to a strong-buy rating in a report released on Monday,Zacks reports.

Itochu Stock Down 1.4%

ITOCY stock opened at $13.55 on Monday. Itochu has a one year low of $10.80 and a one year high of $15.44. The stock has a market capitalization of $107.38 billion, a PE ratio of 14.57 and a beta of 0.63. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.02 and a current ratio of 1.35. The company has a fifty day moving average of $13.67 and a 200-day moving average of $12.68.

Itochu (OTCMKTS:ITOCY) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The firm had revenue of $24.75 billion for the quarter, compared to analyst estimates of $22.01 billion. As a group, analysts expect that Itochu will post 0.92 EPS for the current year.

Institutional Trading of Itochu

Several hedge funds have recently modified their holdings of the business. Atlas Capital Advisors Inc. purchased a new position in Itochu in the fourth quarter worth $279,000. OLD National Bancorp IN grew its stake 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 worth $193,000 after purchasing an additional 13,993 shares during the period. Confluence Investment Management LLC increased its holdings in shares of Itochu by 1.1% in the 2nd quarter. Confluence Investment Management LLC now owns 103,063 shares of the company’s stock valued at $1,175,000 after purchasing an additional 1,159 shares in the last quarter. Finally, Aristotle Capital Management LLC lifted its stake in shares of Itochu by 897.0% in the first quarter. Aristotle Capital Management LLC now owns 117,267 shares of the company’s stock valued at $1,468,000 after purchasing an additional 105,505 shares during the period. 0.08% of the stock is owned by institutional investors and hedge funds.

Itochu Company Profile

Itochu Corporation is a Japan-based general trading company with business activities spanning a broad range of industries and geographies. The company develops, imports, exports and distributes products while also investing in businesses and providing related services through its global network.

Itochu’s principal operations include textiles, food, metals and minerals, energy and chemicals, machinery, general products and real estate, as well as financial services and information and communications technology.