Itochu (OTCMKTS:ITOCY) Stock Rating Upgraded by Zacks Research

Itochu (OTCMKTS:ITOCY – Get Free Report) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks reports.

Itochu Stock Performance

Itochu stock opened at $13.74 on Monday. Itochu has a fifty-two week low of $10.75 and a fifty-two week high of $15.44. 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 firm’s fifty day moving average price is $13.64 and its 200-day moving average price is $12.67. The stock has a market cap of $108.88 billion, a P/E ratio of 14.77 and a beta of 0.63.

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Itochu (OTCMKTS:ITOCY – Get Free Report) last released its quarterly earnings data 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 business had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $22.01 billion. On average, equities research analysts expect that Itochu will post 0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Itochu

A number of institutional investors and hedge funds have recently made changes to their positions in ITOCY. Atlas Capital Advisors Inc. bought a new position in Itochu during the 4th quarter valued at approximately $279,000. OLD National Bancorp IN increased its holdings in shares of Itochu by 898.1% during the first quarter. OLD National Bancorp IN now owns 15,551 shares of the company’s stock valued at $193,000 after acquiring an additional 13,993 shares in the last quarter. Confluence Investment Management LLC increased its holdings in shares of Itochu by 1.1% during the second quarter. Confluence Investment Management LLC now owns 103,063 shares of the company’s stock valued at $1,175,000 after acquiring an additional 1,159 shares in the last quarter. Finally, Aristotle Capital Management LLC raised its position in shares of Itochu by 897.0% in the 1st 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 during the last quarter. Institutional investors own 0.08% of the company’s stock.

About Itochu

(Get Free Report)

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.

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