Itochu (OTCMKTS:ITOCY) Rating Lowered to Hold at Zacks Research

Itochu (OTCMKTS:ITOCY) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.

Itochu Stock Performance

ITOCY opened at $14.76 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 0.46. Itochu has a 12-month low of $10.91 and a 12-month high of $15.44. The firm has a 50 day moving average of $14.27 and a two-hundred day moving average of $13.02. The firm has a market capitalization of $116.96 billion, a PE ratio of 15.87 and a beta of 0.67.

Itochu (OTCMKTS:ITOCY) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. The business had revenue of $25.59 billion during the quarter, compared to analysts’ expectations of $25.34 billion. On average, analysts anticipate that Itochu will post 0.92 EPS for the current year.

Hedge Funds Weigh In On Itochu

A number of institutional investors have recently modified their holdings of ITOCY. Aristotle Capital Management LLC lifted its holdings 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 valued at $1,468,000 after buying an additional 105,505 shares during the period. Confluence Investment Management LLC boosted its stake in shares of Itochu by 0.8% in the third quarter. Confluence Investment Management LLC now owns 103,854 shares of the company’s stock worth $1,448,000 after buying an additional 791 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Itochu by 11.1% in the third quarter. GAMMA Investing LLC now owns 31,411 shares of the company’s stock worth $438,000 after buying an additional 3,128 shares during the last quarter. Hedge funds and other institutional investors own 0.08% of the company’s stock.

About Itochu

ITOCHU Corporation is a Japan-based general trading company, or sogo shosha, that develops and manages businesses across multiple industries. Its activities include the trading, distribution, investment and business development of products and services in areas such as textiles, food, metals and minerals, energy and chemicals, machinery, general products, real estate, information and communications technology, and finance.

The company serves customers and business partners through a global network spanning Japan and international markets.