Itochu (OTCMKTS:ITOCY) Shares Gap Up - Should You Buy?

Key Points

• Shares jumped 4.7%, opening at $15.00 versus a prior close of $14.10, and last traded near $14.77. The stock is above its 50-day and 200-day moving averages of roughly $12.50.
• In its latest quarter, Itochu reported $0.26 in EPS, slightly below the $0.27 analyst consensus, while revenue of $24.75 billion exceeded expectations of $22.01 billion.
• Several institutional investors increased their positions, but institutional and hedge-fund ownership remains very low at 0.08% of outstanding shares.

Itochu Corp. (OTCMKTS:ITOCY - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $14.10, but opened at $15.00. Itochu shares last traded at $14.7670, with a volume of 78,793 shares.

Itochu Stock Up 4.7%

The firm has a fifty day simple moving average of $12.50 and a 200-day simple moving average of $12.54. The company has a quick ratio of 0.99, a current ratio of 1.32 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $116.99 billion, a P/E ratio of 15.87 and a beta of 0.63.

Itochu (OTCMKTS:ITOCY - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.01). The business had revenue of $24.75 billion for the quarter, compared to analysts' expectations of $22.01 billion. On average, equities research analysts expect that Itochu Corp. will post 0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ITOCY. Confluence Investment Management LLC boosted its position in Itochu by 1.1% during the second quarter. Confluence Investment Management LLC now owns 103,063 shares of the company's stock valued at $1,175,000 after purchasing an additional 1,159 shares during the last quarter. Aristotle Capital Management LLC grew its holdings in Itochu by 897.0% during the first quarter. Aristotle Capital Management LLC now owns 117,267 shares of the company's stock worth $1,468,000 after purchasing an additional 105,505 shares during the period. OLD National Bancorp IN increased its position in Itochu by 898.1% during the first 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 during the last quarter. Finally, Atlas Capital Advisors Inc. bought a new stake in Itochu in the fourth quarter valued at approximately $279,000. Institutional investors and hedge funds 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.

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