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

Itochu Corp. (OTCMKTS:ITOCY) hit a new 52-week high during mid-day trading on Monday . The stock 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.

Analyst Ratings Changes

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

Itochu Trading Up 4.4%

The company has a market capitalization of $110.86 billion, a P/E ratio of 14.88 and a beta of 0.69. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.30 and a quick ratio of 0.96. The business’s 50-day moving average price is $65.87 and its two-hundred day moving average price is $97.25.

Institutional Trading of Itochu

A number of large investors have recently bought and sold shares of ITOCY. First Horizon Advisors Inc. lifted its stake in Itochu by 38.0% in the second quarter. First Horizon Advisors Inc. now owns 454 shares of the company’s stock valued at $48,000 after buying an additional 125 shares in the last quarter. GAMMA Investing LLC lifted its position in Itochu by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,365 shares of the company’s stock valued at $272,000 after acquiring an additional 421 shares in the last quarter. Confluence Investment Management LLC boosted its stake in Itochu by 8.6% in the 3rd quarter. Confluence Investment Management LLC now owns 9,381 shares of the company’s stock worth $1,080,000 after purchasing an additional 745 shares during the period. Salomon & Ludwin LLC increased its holdings in Itochu by 1,370.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 250 shares of the company’s stock worth $29,000 after purchasing an additional 233 shares in the last quarter. Finally, OLD National Bancorp IN bought a new position in Itochu during the 4th quarter worth about $201,000. 0.08% of the stock is owned by institutional investors.

Itochu Company Profile

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.