Itochu (OTCMKTS:ITOCY) Upgraded to “Strong-Buy” at Zacks Research

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

Itochu Stock Down 1.4%

ITOCY opened at $13.74 on Monday. The company has a fifty day moving average of $13.64 and a two-hundred day moving average of $12.67. The stock has a market capitalization of $108.88 billion, a price-to-earnings ratio of 14.77 and a beta of 0.63. 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.

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

Institutional Investors Weigh In On Itochu

A number of institutional investors have recently modified their holdings of the company. Aristotle Capital Management LLC increased its position in Itochu by 897.0% during the first quarter. Aristotle Capital Management LLC now owns 117,267 shares of the company’s stock worth $1,468,000 after buying an additional 105,505 shares during the period. OLD National Bancorp IN boosted its stake in 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. Atlas Capital Advisors Inc. purchased a new position in Itochu during the 4th quarter worth $279,000. Finally, Confluence Investment Management LLC raised its holdings in shares of Itochu by 1.1% in the second quarter. Confluence Investment Management LLC now owns 103,063 shares of the company’s stock valued at $1,175,000 after buying an additional 1,159 shares during the last quarter. 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.