Itochu (OTCMKTS:ITOCY) Shares Gap Up – Still a Buy?

Itochu Corp. (OTCMKTS:ITOCY) shares gapped up before the market opened on Wednesday. The stock had previously closed at $13.87, but opened at $14.40. Itochu shares last traded at $14.0350, with a volume of 10,883 shares traded.

Itochu Trading Up 1.3%

The company has a 50 day simple moving average of $13.46 and a two-hundred day simple moving average of $12.64. 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 firm has a market cap of $111.29 billion, a PE ratio of 15.10 and a beta of 0.63.

Itochu (OTCMKTS:ITOCY) last issued its earnings results on Monday, August 3rd. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The company had revenue of $24.75 billion during the quarter, compared to analysts’ expectations of $22.01 billion. Analysts expect that Itochu Corp. will post 0.92 EPS for the current fiscal year.

Institutional Trading of Itochu

A number of hedge funds and other institutional investors have recently made changes to their positions in ITOCY. Aristotle Capital Management LLC raised its holdings in shares of 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 last quarter. Confluence Investment Management LLC boosted its holdings 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 purchasing an additional 1,159 shares during the last quarter. OLD National Bancorp IN grew its position in Itochu by 898.1% during the 1st quarter. OLD National Bancorp IN now owns 15,551 shares of the company’s stock worth $193,000 after purchasing an additional 13,993 shares during the period. Finally, Atlas Capital Advisors Inc. purchased a new position in Itochu during 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 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.