Itochu (OTCMKTS:ITOCY) Stock Rating Lowered by Zacks Research

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

Itochu Stock Up 2.6%

Shares of OTCMKTS ITOCY opened at $14.76 on Tuesday. 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 has a 52 week low of $10.91 and a 52 week high of $15.44. The stock has a market capitalization of $116.96 billion, a P/E ratio of 15.87 and a beta of 0.67. The stock’s fifty day moving average is $14.27 and its 200 day moving average is $13.02.

Itochu (OTCMKTS:ITOCY) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $25.59 billion during the quarter, compared to analyst estimates of $25.34 billion. Sell-side analysts forecast that Itochu will post 0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Itochu

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Itochu by 11.1% during the 3rd quarter. GAMMA Investing LLC now owns 31,411 shares of the company’s stock worth $438,000 after acquiring an additional 3,128 shares during the period. Confluence Investment Management LLC boosted its position in shares of Itochu by 0.8% during the 3rd quarter. Confluence Investment Management LLC now owns 103,854 shares of the company’s stock worth $1,448,000 after acquiring an additional 791 shares in the last quarter. Finally, Aristotle Capital Management LLC boosted its position in shares of Itochu by 897.0% during the 1st quarter. Aristotle Capital Management LLC now owns 117,267 shares of the company’s stock worth $1,468,000 after acquiring an additional 105,505 shares in the last quarter. 0.08% of the stock is currently owned by institutional investors and hedge funds.

Itochu Company Profile

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.