Honda Motor Co. Given “Neutral” Rating at Zacks (HMC)
Honda Motor Co. (NYSE:HMC)‘s stock had its “neutral” rating restated by Zacks in a report issued on Thursday, Stock Ratings Network reports. They currently have a $42.00 price objective on the stock. Zacks‘ price objective points to a potential upside of 3.99% from the company’s current price.
Zacks‘ analyst wrote, “Honda reported a 7% decline in earnings per share in the first quarter of fiscal 2014. Consolidated net sales and other operating revenues rose 16.3% year over year and consolidated operating profit increased 5.1%. Honda’s efforts to develop infrastructure and introduce new products are helping in business expansion. Moreover, the company is benefiting from favorable foreign currency translation effects. However, we are concerned about its increasing SG&A and R&D expenses and declining cash balance. Frequent product recalls are also unfavorable. Nevertheless, Honda expects a 22.5% and 58% increase in revenues and net income, respectively. Therefore, we maintain our Neutral recommendation on Honda.”
Separately, analysts at Credit Suisse upgraded shares of Honda Motor Co. from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Honda Motor Co. has a consensus rating of “Buy” and an average target price of $42.00.
Honda Motor Co. (NYSE:HMC) traded up 1.10% on Thursday, hitting $40.39. 312,131 shares of the company’s stock traded hands. Honda Motor Co. has a 1-year low of $29.26 and a 1-year high of $42.13. The stock has a 50-day moving average of $37.86 and a 200-day moving average of $38.47. The company has a market cap of $72.795 billion and a P/E ratio of 15.83.
Honda Motor Co, Ltd. (NYSE:HMC) develops, produces and manufactures a variety of motor products, ranging from small general-purpose engines and scooters to specialty sports cars.
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