ITOCHU (OTCMKTS:ITOCY) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of ITOCHU (OTCMKTS:ITOCYGet Rating) from a buy rating to a hold rating in a research note released on Thursday, 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. “

ITOCHU stock opened at $56.74 on Thursday. The stock has a market cap of $44.96 billion, a PE ratio of 6.51, a price-to-earnings-growth ratio of 0.46 and a beta of 0.49. The stock has a 50-day moving average of $62.76 and a two-hundred day moving average of $62.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.93 and a current ratio of 1.23. ITOCHU has a one year low of $53.93 and a one year high of $69.62.

Several hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors boosted its position in shares of ITOCHU by 111.7% during the 1st quarter. Captrust Financial Advisors now owns 1,562 shares of the company’s stock worth $106,000 after purchasing an additional 824 shares in the last quarter. Todd Asset Management LLC raised its holdings in shares of ITOCHU by 4.8% in the 1st quarter. Todd Asset Management LLC now owns 508,879 shares of the company’s stock worth $34,409,000 after acquiring an additional 23,196 shares during the last quarter. FCA Corp TX acquired a new stake in shares of ITOCHU in the 4th quarter worth about $209,000. Teachers Retirement System of The State of Kentucky raised its holdings in shares of ITOCHU by 19.5% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 263,270 shares of the company’s stock worth $16,204,000 after acquiring an additional 43,000 shares during the last quarter. Finally, Ancora Advisors LLC raised its holdings in shares of ITOCHU by 164.5% in the 3rd quarter. Ancora Advisors LLC now owns 529 shares of the company’s stock worth $31,000 after acquiring an additional 329 shares during the last quarter. 0.10% of the stock is currently owned by institutional investors.

About ITOCHU (Get Rating)

ITOCHU Corporation engages in trading and importing/exporting various products worldwide. The company's Textile segment produces and sells fiber and garment materials, textiles fabrics, apparel, and industrial materials; and imports lifestyle brands, fashion accessories, and garments in various areas, such as luxury, casual, and sports.

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