Itochu (OTCMKTS:ITOCY) Stock Price Passes Below 200 Day Moving Average – What’s Next?
by Doug Wharley · The Cerbat GemItochu Corp. (OTCMKTS:ITOCY – Get Free Report)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $104.94 and traded as low as $12.70. Itochu shares last traded at $12.79, with a volume of 354,177 shares trading hands.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on ITOCY shares. The Goldman Sachs Group initiated coverage on shares of Itochu in a research note on Tuesday, January 6th. They set a “buy” rating for the company. Zacks Research upgraded shares of Itochu to a “hold” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy”.
Get Our Latest Report on ITOCY
Itochu Stock Performance
The stock’s 50-day simple moving average is $91.00 and its 200-day simple moving average is $104.94. The stock has a market cap of $101.35 billion, a price-to-earnings ratio of 13.61 and a beta of 0.69. The company has a current ratio of 1.30, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41.
Itochu (OTCMKTS:ITOCY – Get Free Report) last released its quarterly earnings results on Wednesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.10). The firm had revenue of $24.06 billion for the quarter, compared to the consensus estimate of $24.65 billion.
Institutional Trading of Itochu
Large investors have recently modified their holdings of the stock. First Horizon Advisors Inc. increased its stake in Itochu by 38.0% in the second quarter. First Horizon Advisors Inc. now owns 454 shares of the company’s stock valued at $48,000 after acquiring an additional 125 shares during the last quarter. Salomon & Ludwin LLC boosted its holdings in shares of Itochu by 1,370.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 250 shares of the company’s stock valued at $29,000 after purchasing an additional 233 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Itochu by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,365 shares of the company’s stock valued at $272,000 after purchasing an additional 421 shares in the last quarter. Finally, Confluence Investment Management LLC increased its stake in shares of Itochu by 4.8% in the 4th quarter. Confluence Investment Management LLC now owns 9,827 shares of the company’s stock valued at $1,243,000 after purchasing an additional 446 shares during the last quarter. 0.08% of the stock is owned by institutional investors and hedge funds.
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.