Itochu (OTCMKTS:ITOCY) Shares Gap Down – What’s Next?

Itochu Corp. (OTCMKTS:ITOCY) gapped down prior to trading on Tuesday . The stock had previously closed at $11.61, but opened at $11.10. Itochu shares last traded at $11.52, with a volume of 184,772 shares changing hands.

Analyst Ratings Changes

A number of research analysts have commented on the company. Daiwa Securities Group raised Itochu to a “strong-buy” rating in a report on Friday, February 27th. Nomura raised Itochu to a “strong-buy” rating in a report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy”.

Itochu Trading Down 3.2%

The company has a market capitalization of $89.09 billion, a price-to-earnings ratio of 12.63 and a beta of 0.62. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.32. The firm has a fifty day moving average price of $12.44 and a 200-day moving average price of $38.92.

Itochu (OTCMKTS:ITOCY) last released its earnings results on Friday, May 1st. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $24.49 billion for the quarter, compared to analyst estimates of $28.52 billion. As a group, equities analysts anticipate that Itochu Corp. will post 0.86 EPS for the current year.

Institutional Trading of Itochu

Several large investors have recently modified their holdings of ITOCY. OLD National Bancorp IN bought a new stake in shares of Itochu during the 4th quarter worth $201,000. Atlas Capital Advisors Inc. bought a new stake in shares of Itochu during the 4th quarter worth $279,000. GAMMA Investing LLC lifted its position in shares of 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 last quarter. Confluence Investment Management LLC lifted its position in shares of 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 last quarter. Finally, Aristotle Capital Management LLC bought a new stake in shares of Itochu during the 4th quarter worth $1,487,000. 0.08% of the stock is owned by institutional investors and hedge funds.

About Itochu

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.