Itochu (OTCMKTS:ITOCY) Stock Dropped to “Hold” by Zacks Research

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

Itochu Stock Performance

Shares of ITOCY stock opened at $14.76 on Tuesday. The business’s 50-day moving average price is $14.27 and its 200-day moving average price is $13.02. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.46. Itochu has a 12 month low of $10.91 and a 12 month high of $15.44. The firm has a market capitalization of $116.96 billion, a price-to-earnings ratio of 15.87 and a beta of 0.67.

Itochu (OTCMKTS:ITOCY) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. The firm had revenue of $25.59 billion for the quarter, compared to the consensus estimate of $25.34 billion. Equities research analysts forecast that Itochu will post 0.92 EPS for the current year.

Institutional Investors Weigh In On Itochu

Several institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in Itochu by 11.1% in the 3rd quarter. GAMMA Investing LLC now owns 31,411 shares of the company’s stock valued at $438,000 after buying an additional 3,128 shares during the last quarter. Confluence Investment Management LLC lifted its position in shares of Itochu by 0.8% during the 3rd quarter. Confluence Investment Management LLC now owns 103,854 shares of the company’s stock valued at $1,448,000 after buying an additional 791 shares during the last quarter. Finally, Aristotle Capital Management LLC increased 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 worth $1,468,000 after purchasing an additional 105,505 shares in the last quarter. Institutional investors own 0.08% of the company’s stock.

Itochu Company Profile

ITOCHU Corporation is a Japan-based general trading company, or sogo shosha, that develops and manages businesses across multiple industries. Its activities include the trading, distribution, investment and business development of products and services in areas such as textiles, food, metals and minerals, energy and chemicals, machinery, general products, real estate, information and communications technology, and finance.

The company serves customers and business partners through a global network spanning Japan and international markets.