Zacks Investment Research Upgrades Tata Motors Ltd (NYSE:TTM) to Buy
Tata Motors Ltd (NYSE:TTM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage currently has a $35.00 target price on the stock. Zacks Investment Research‘s price target indicates a potential upside of 19.05% from the stock’s previous close.
According to Zacks, “Tata Motors is India’s leading automotive manufacturer. “
TTM has been the topic of several other research reports. BidaskClub cut Tata Motors from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Morgan Stanley cut Tata Motors from an “overweight” rating to an “equal weight” rating in a research note on Thursday. Finally, ValuEngine cut Tata Motors from a “buy” rating to a “hold” rating in a research note on Saturday, June 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $32.50.
Tata Motors (TTM) traded up 0.03% during midday trading on Friday, reaching $29.40. The company’s stock had a trading volume of 1,980,257 shares. The firm has a market cap of $19.97 billion, a price-to-earnings ratio of 18.09 and a beta of 2.26. The company’s 50-day moving average is $34.15 and its 200 day moving average is $35.25. Tata Motors has a 12-month low of $29.20 and a 12-month high of $44.79.
Tata Motors (NYSE:TTM) last released its earnings results on Wednesday, August 9th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by $0.21. The business had revenue of $9.30 billion for the quarter. Tata Motors had a net margin of 3.38% and a return on equity of 19.45%. Equities analysts forecast that Tata Motors will post $1.84 earnings per share for the current year.
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In other news, Director Carlos Yong acquired 300,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The shares were bought at an average price of $0.30 per share, with a total value of $90,000.00.
Hedge funds have recently bought and sold shares of the company. Daiwa SB Investments Ltd. raised its stake in Tata Motors by 31.8% in the first quarter. Daiwa SB Investments Ltd. now owns 2,900 shares of the company’s stock worth $103,000 after buying an additional 700 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Tata Motors by 439.5% in the first quarter. PNC Financial Services Group Inc. now owns 5,406 shares of the company’s stock worth $194,000 after buying an additional 4,404 shares in the last quarter. BB&T Corp bought a new stake in Tata Motors during the first quarter worth $209,000. Stifel Financial Corp bought a new stake in Tata Motors during the first quarter worth $209,000. Finally, Greenleaf Trust bought a new stake in Tata Motors during the first quarter worth $211,000. Institutional investors own 13.27% of the company’s stock.
Tata Motors Company Profile
Tata Motors Limited is an automobile company. The Company is engaged in manufacture of motor vehicles. The Company is engaged mainly in the business of automobile products consisting of all types of commercial and passenger vehicles, including financing of the vehicles sold by the Company. The Company’s segments include automotive operations and all other operations.
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