Itochu Corp. (ITOCY) Cut to “Buy” at ValuEngine
Itochu Corp. (OTCMKTS:ITOCY) was downgraded by research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report released on Thursday.
Shares of Itochu Corp. (ITOCY) traded up 0.24% on Thursday, reaching $33.18. 2,424 shares of the company traded hands. The stock has a 50-day moving average price of $32.12 and a 200 day moving average price of $29.87. The firm has a market capitalization of $25.84 billion, a P/E ratio of 7.28 and a beta of 1.05. Itochu Corp. has a 1-year low of $24.26 and a 1-year high of $33.18.
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An institutional investor recently raised its position in Itochu Corp. stock. Parametric Portfolio Associates LLC grew its holdings in Itochu Corp. (OTCMKTS:ITOCY) by 14.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 585,554 shares of the company’s stock after buying an additional 71,897 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.07% of Itochu Corp. worth $17,420,000 as of its most recent filing with the Securities & Exchange Commission. 0.10% of the stock is currently owned by hedge funds and other institutional investors.
About Itochu Corp.
ITOCHU Corporation is a trading company. The Company operates through Textile Company; Machinery Company; Metals & Minerals Company; Energy & Chemicals Company; Food Company; ICT, General Products & Reality Company, and Adjustments & Eliminations and others segments. The Textile Company segment consists of the Apparel Division 1, the Apparel Division 2, the Brand Marketing Division 1 and the Brand Marketing Division 2.
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