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 to investors 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.”
Other analysts also recently issued reports about the stock. Goldman Sachs Group Inc. downgraded shares of Toyota Motor Corp from a “buy” rating to a “neutral” rating in a report on Monday, September 5th. Citigroup Inc. downgraded shares of Toyota Motor Corp from a “buy” rating to a “neutral” rating in a report on Thursday, August 25th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Toyota Motor Corp presently has an average rating of “Hold” and a consensus target price of $108.54.
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Toyota Motor Corp (NYSE:TM) traded up 1.30% during mid-day trading on Tuesday, hitting $116.57. 107,100 shares of the stock were exchanged. The stock has a market cap of $175.51 billion, a PE ratio of 8.43 and a beta of 0.70. The stock’s 50 day moving average is $118.02 and its 200 day moving average is $107.87. Toyota Motor Corp has a 52-week low of $97.80 and a 52-week high of $127.28.
Institutional investors have recently bought and sold shares of the stock. BTC Capital Management Inc. increased its position in Toyota Motor Corp by 1.5% in the first quarter. BTC Capital Management Inc. now owns 2,502 shares of the company’s stock valued at $264,000 after buying an additional 37 shares during the last quarter. Creative Planning increased its position in Toyota Motor Corp by 0.5% in the second quarter. Creative Planning now owns 9,056 shares of the company’s stock valued at $906,000 after buying an additional 43 shares during the last quarter. Silvercrest Asset Management Group LLC increased its position in Toyota Motor Corp by 0.3% in the second quarter. Silvercrest Asset Management Group LLC now owns 19,154 shares of the company’s stock valued at $1,915,000 after buying an additional 65 shares during the last quarter. Aspiriant LLC increased its position in Toyota Motor Corp by 3.5% in the second quarter. Aspiriant LLC now owns 2,391 shares of the company’s stock valued at $317,000 after buying an additional 80 shares during the last quarter. Finally, Auxier Asset Management increased its position in Toyota Motor Corp by 4.6% in the second quarter. Auxier Asset Management now owns 2,275 shares of the company’s stock valued at $227,000 after buying an additional 100 shares during the last quarter.
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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