Itochu (OTCMKTS:ITOCY) Sees Strong Trading Volume – Still a Buy?

Shares of Itochu Corp. (OTCMKTS:ITOCY) saw unusually-strong trading volume on Friday . Approximately 1,023,190 shares were traded during mid-day trading, an increase of 124% from the previous session’s volume of 456,834 shares.The stock last traded at $12.03 and had previously closed at $12.16.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ITOCY shares. Daiwa Securities Group upgraded Itochu to a “strong-buy” rating in a research note on Friday, February 27th. Nomura upgraded Itochu to a “strong-buy” rating in a research note on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy”.

Itochu Trading Down 1.0%

The business has a 50 day moving average of $12.57 and a two-hundred day moving average of $44.10. The company has a current ratio of 1.32, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The firm has a market cap of $95.41 billion, a P/E ratio of 13.53 and a beta of 0.65.

Itochu (OTCMKTS:ITOCY) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $24.49 billion during the quarter, compared to the consensus estimate of $28.52 billion. Analysts predict that Itochu Corp. will post 0.44 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. OLD National Bancorp IN bought a new position in Itochu during the 4th quarter worth $201,000. Atlas Capital Advisors Inc. bought a new position in Itochu during the 4th quarter worth $279,000. GAMMA Investing LLC increased its position in Itochu by 21.8% during the 4th quarter. GAMMA Investing LLC now owns 2,881 shares of the company’s stock worth $364,000 after buying an additional 516 shares during the period. Confluence Investment Management LLC increased its position in Itochu by 4.8% during the 4th quarter. Confluence Investment Management LLC now owns 9,827 shares of the company’s stock worth $1,243,000 after buying an additional 446 shares during the period. Finally, Aristotle Capital Management LLC bought a new position in Itochu during the 4th quarter worth $1,487,000. Institutional investors 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.