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

Key Points

• Itochu shares opened sharply higher, rising from a prior close of $13.62 to $14.19 before settling near $14.00.
• Analyst sentiment is strongly positive: Zacks upgraded the stock to “strong buy,” while MarketBeat reports a consensus “Strong Buy” rating from four analysts.
• The company’s latest quarter showed mixed results, with EPS of $0.26 slightly below estimates but revenue of $24.75 billion exceeding forecasts; Itochu has a $110.8 billion market capitalization and a P/E ratio of 15.03.

Itochu Corp. (OTCMKTS:ITOCY - Get Free Report) shares gapped up before the market opened on Tuesday. The stock had previously closed at $13.62, but opened at $14.19. Itochu shares last traded at $14.00, with a volume of 32,135 shares traded.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised Itochu from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 5th. Three investment analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. Based on data from MarketBeat, Itochu currently has a consensus rating of "Strong Buy".

Itochu Stock Performance

The stock's fifty day moving average price is $13.73 and its two-hundred day moving average price is $12.70. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.02 and a current ratio of 1.35. The company has a market cap of $110.80 billion, a P/E ratio of 15.03 and a beta of 0.63.

Itochu (OTCMKTS:ITOCY - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). The company had revenue of $24.75 billion for the quarter, compared to analyst estimates of $22.01 billion. As a group, equities analysts predict that Itochu Corp. will post 0.92 earnings per share for the current year.

Institutional Investors Weigh In On Itochu

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. OLD National Bancorp IN increased its stake in shares of Itochu by 898.1% in the 1st quarter. OLD National Bancorp IN now owns 15,551 shares of the company's stock valued at $193,000 after purchasing an additional 13,993 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new position in shares of Itochu during the 4th quarter worth $279,000. GAMMA Investing LLC lifted its position in shares of Itochu by 11.1% during the 3rd quarter. GAMMA Investing LLC now owns 31,411 shares of the company's stock worth $438,000 after buying an additional 3,128 shares during the last quarter. Confluence Investment Management LLC boosted its stake in Itochu by 1.1% in the second quarter. Confluence Investment Management LLC now owns 103,063 shares of the company's stock valued at $1,175,000 after buying an additional 1,159 shares in the last quarter. Finally, Aristotle Capital Management LLC boosted its stake in Itochu by 897.0% in the first quarter. Aristotle Capital Management LLC now owns 117,267 shares of the company's stock valued at $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 Japan-based general trading company with business activities spanning a broad range of industries and geographies. The company develops, imports, exports and distributes products while also investing in businesses and providing related services through its global network.

Itochu's principal operations include textiles, food, metals and minerals, energy and chemicals, machinery, general products and real estate, as well as financial services and information and communications technology.

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