Itochu (OTCMKTS:ITOCY) Sets New 1-Year High – What’s Next?

Itochu Corp. (OTCMKTS:ITOCY)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $14.29 and last traded at $13.29, with a volume of 20360 shares trading hands. The stock had previously closed at $13.39.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ITOCY shares. Zacks Research upgraded Itochu to a “hold” rating in a report on Monday, January 12th. The Goldman Sachs Group assumed coverage on shares of Itochu in a report on Tuesday, January 6th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Itochu Stock Performance

The company has a 50-day moving average price of $70.06 and a two-hundred day moving average price of $98.57. The company has a market capitalization of $105.95 billion, a PE ratio of 14.22 and a beta of 0.69. The company has a quick ratio of 0.96, a current ratio of 1.30 and a debt-to-equity ratio of 0.41.

Institutional Trading of Itochu

Several institutional investors have recently added to or reduced their stakes in ITOCY. Confluence Investment Management LLC increased its holdings in shares of Itochu by 4.8% in the fourth quarter. Confluence Investment Management LLC now owns 9,827 shares of the company’s stock valued at $1,243,000 after purchasing an additional 446 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Itochu by 21.8% during the fourth quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $364,000 after acquiring an additional 516 shares during the period. OLD National Bancorp IN acquired a new stake in shares of Itochu in the 4th quarter valued at $201,000. First Horizon Advisors Inc. lifted its stake in Itochu by 38.0% during the second quarter. First Horizon Advisors Inc. now owns 454 shares of the company’s stock worth $48,000 after purchasing an additional 125 shares during the last quarter. Finally, Salomon & Ludwin LLC boosted its stake in Itochu by 1,370.6% in the third quarter. Salomon & Ludwin LLC now owns 250 shares of the company’s stock valued at $29,000 after acquiring an additional 233 shares in the last quarter. 0.08% of the stock is currently owned by hedge funds and other institutional investors.

About Itochu

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.