Zacks Investment Research Upgrades Toyota Motor Corp (TM) to Hold
Toyota Motor Corp (NYSE:TM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Toyota’s estimates have been stable over the last 7 days. However, quarterly earnings estimates declined in the last 30 days, while annual estimates increased. The company focuses on product development, capacity increases and expansion in emerging markets. The automaker also made several structural changes in order to deliver high-quality vehicles and improve the strength and autonomy of regional operations. However, declining global sales, a string of product recalls and large fines pose concerns for Toyota. Also, the company issued a weak guidance for earnings, operating income and revenues for fiscal 2017.”
A number of other equities analysts have also commented on TM. Citigroup Inc. lowered shares of Toyota Motor Corp from a “buy” rating to a “neutral” rating in a report on Thursday, August 25th. Goldman Sachs Group Inc. lowered shares of Toyota Motor Corp from a “buy” rating to a “neutral” rating in a report on Monday, September 5th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $108.54.
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Shares of Toyota Motor Corp (NYSE:TM) traded up 1.29% during midday trading on Tuesday, reaching $116.55. The company’s stock had a trading volume of 111,521 shares. The stock has a 50 day moving average of $118.02 and a 200-day moving average of $107.87. Toyota Motor Corp has a 1-year low of $97.80 and a 1-year high of $127.28. The company has a market capitalization of $175.48 billion, a P/E ratio of 8.42 and a beta of 0.70.
A number of large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC acquired a new stake in Toyota Motor Corp during the second quarter valued at $101,000. CENTRAL TRUST Co raised its stake in Toyota Motor Corp by 46.5% in the second quarter. CENTRAL TRUST Co now owns 1,040 shares of the company’s stock valued at $103,000 after buying an additional 330 shares during the period. Winslow Evans & Crocker Inc. raised its stake in Toyota Motor Corp by 95.4% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,114 shares of the company’s stock valued at $111,000 after buying an additional 544 shares during the period. Feltz Wealth PLAN Inc. acquired a new stake in Toyota Motor Corp during the second quarter valued at $150,000. Finally, Alpha Omega Wealth Management LLC raised its stake in Toyota Motor Corp by 34.8% in the second quarter. Alpha Omega Wealth Management LLC now owns 1,550 shares of the company’s stock valued at $155,000 after buying an additional 400 shares during the period.
Toyota Motor Corp Company Profile
Toyota Motor Corporation (Toyota) conducts business in the automotive industry. The Company also conducts business in finance and other industries. The Company’s segments include Automotive, Financial Services and All Other. Toyota sells its vehicles in approximately 190 countries and regions. Toyota’s markets for its automobiles are Japan, North America, Europe and Asia.
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