Itochu (OTCMKTS:ITOCY) Stock Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Itochu Corp. (OTCMKTS:ITOCY)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $40.22 and traded as low as $11.42. Itochu shares last traded at $11.43, with a volume of 525,222 shares changing hands.

Analyst Ratings Changes

ITOCY has been the subject of several recent research reports. Daiwa Securities Group raised Itochu to a “strong-buy” rating in a research report on Friday, February 27th. Nomura raised Itochu to a “strong-buy” rating in a research report on Wednesday, February 25th. Two equities 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, Itochu currently has an average rating of “Buy”.

Itochu Price Performance

The firm has a fifty day moving average of $12.46 and a 200 day moving average of $40.22. The company has a market capitalization of $90.58 billion, a P/E ratio of 12.84 and a beta of 0.62. The company has a current ratio of 1.32, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41.

Itochu (OTCMKTS:ITOCY) last released its quarterly earnings data on Friday, May 1st. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $24.49 billion during the quarter, compared to the consensus estimate of $28.52 billion. On average, equities research analysts anticipate that Itochu Corp. will post 0.86 EPS for the current year.

Institutional Investors Weigh In On Itochu

Several large investors have recently bought and sold shares of ITOCY. OLD National Bancorp IN increased its holdings in Itochu by 898.1% in the 1st quarter. OLD National Bancorp IN now owns 15,551 shares of the company’s stock worth $193,000 after buying an additional 13,993 shares in the last quarter. Atlas Capital Advisors Inc. bought a new stake in Itochu in the 4th quarter worth about $279,000. GAMMA Investing LLC increased its holdings in Itochu by 21.8% in 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 in the last quarter. Confluence Investment Management LLC increased its holdings in Itochu by 4.8% in 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 in the last quarter. Finally, Aristotle Capital Management LLC increased its holdings in Itochu by 897.0% in the 1st quarter. Aristotle Capital Management LLC now owns 117,267 shares of the company’s stock worth $1,468,000 after buying an additional 105,505 shares in the last quarter. 0.08% of the stock is currently owned by institutional investors.

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.