Zacks Investment Research Lowers ITOCHU CORP/ADR (OTCMKTS:ITOCY) to Sell

Zacks Investment Research cut shares of ITOCHU CORP/ADR (OTCMKTS:ITOCY) from a hold rating to a sell rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “ITOCHU Corporation operates as a general trading company. It is involved in domestic trading, import/export, and overseas trading of various products such as textile, machinery, information and communications technology, aerospace, electronics, energy, metals, minerals, chemicals, forest products, general merchandise, food, finance, realty, insurance, and logistics services, as well as business investment in Japan and overseas. ITOCHU Corporation is headquartered in Tokyo, Japan. “

Separately, Goldman Sachs Group raised ITOCHU CORP/ADR from a neutral rating to a buy rating in a research report on Wednesday, June 17th.

OTCMKTS ITOCY opened at $43.17 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.94. The business has a 50 day moving average price of $42.71 and a 200 day moving average price of $43.51. The company has a market capitalization of $32.27 billion, a P/E ratio of 6.94 and a beta of 0.48. ITOCHU CORP/ADR has a 1-year low of $33.16 and a 1-year high of $48.82.

ITOCHU CORP/ADR (OTCMKTS:ITOCY) last released its quarterly earnings results on Friday, May 8th. The company reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The company had revenue of $25 billion during the quarter, compared to the consensus estimate of $28.78 billion. ITOCHU CORP/ADR had a return on equity of 13.19% and a net margin of 4.56%. On average, research analysts expect that ITOCHU CORP/ADR will post 5.23 earnings per share for the current fiscal year.

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

About ITOCHU CORP/ADR

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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