Itochu (OTCMKTS:ITOCY) Upgraded at Nomura

Nomura upgraded shares of Itochu (OTCMKTS:ITOCY) to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

Other research analysts have also recently issued reports about the company. Zacks Research raised Itochu to a “hold” rating in a report on Monday, January 12th. The Goldman Sachs Group initiated coverage on shares of Itochu in a research report on Tuesday, January 6th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Itochu currently has a consensus rating of “Buy”.

Itochu Price Performance

Itochu stock opened at $14.41 on Wednesday. The business has a 50 day simple moving average of $37.97 and a 200 day simple moving average of $89.08. 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 company has a market capitalization of $114.19 billion, a PE ratio of 15.33 and a beta of 0.69. Itochu has a one year low of $8.15 and a one year high of $15.10.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Confluence Investment Management LLC increased its position in Itochu by 8.6% in the 3rd quarter. Confluence Investment Management LLC now owns 9,381 shares of the company’s stock valued at $1,080,000 after acquiring an additional 745 shares in the last quarter. OLD National Bancorp IN acquired a new position in shares of Itochu during the fourth quarter worth approximately $201,000. GAMMA Investing LLC grew its stake in shares of Itochu by 21.7% during the third quarter. GAMMA Investing LLC now owns 2,365 shares of the company’s stock valued at $272,000 after purchasing an additional 421 shares during the last quarter. Aristotle Capital Management LLC acquired a new stake in shares of Itochu in the fourth quarter valued at approximately $1,487,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in shares of Itochu in the fourth quarter valued at approximately $279,000. Institutional investors and hedge funds own 0.08% of the company’s stock.

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.