ITOCHU CORP/ADR (OTCMKTS:ITOCY) Lifted to “Buy” at Goldman Sachs Group

Goldman Sachs Group upgraded shares of ITOCHU CORP/ADR (OTCMKTS:ITOCY) from a neutral rating to a buy rating in a research note issued to investors on Wednesday, The Fly reports.

Separately, Zacks Investment Research cut shares of ITOCHU CORP/ADR from a hold rating to a sell rating in a research note on Saturday, May 30th.

Shares of ITOCY opened at $43.28 on Wednesday. The firm’s 50 day moving average is $41.95 and its 200-day moving average is $43.60. The stock has a market capitalization of $32.50 billion, a P/E ratio of 6.96 and a beta of 0.48. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.94. ITOCHU CORP/ADR has a 12-month low of $33.16 and a 12-month high of $48.82.

ITOCHU CORP/ADR (OTCMKTS:ITOCY) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.92 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.92. The company had revenue of $25 billion for the quarter, compared to analysts’ expectations of $28.78 billion. ITOCHU CORP/ADR had a net margin of 4.56% and a return on equity of 13.19%. As a group, equities research analysts forecast that ITOCHU CORP/ADR will post 5.58 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in ITOCY. Quadrant Capital Group LLC grew its stake in shares of ITOCHU CORP/ADR by 10.1% in the 4th quarter. Quadrant Capital Group LLC now owns 10,242 shares of the company’s stock worth $454,000 after purchasing an additional 937 shares during the last quarter. Todd Asset Management LLC purchased a new position in shares of ITOCHU CORP/ADR in the first quarter worth approximately $2,717,000. Finally, Parametric Portfolio Associates LLC increased its position in shares of ITOCHU CORP/ADR by 7.4% in the first quarter. Parametric Portfolio Associates LLC now owns 1,048,529 shares of the company’s stock worth $42,907,000 after acquiring an additional 72,680 shares in the last quarter. 0.16% of the stock is currently owned by institutional investors.


ITOCHU Corporation engages in trading and importing/exporting various products worldwide. The company's Textile segment produces and sells textile raw materials, garment materials, textile products, apparel, and industrial materials; and focuses on import licenses for lifestyle brands, fashion accessories, and garments in various areas, such as luxury, casual, and sports.

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