Honda Motor Company, Ltd. (NYSE:HMC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “Honda’s earnings and revenues beat the Zacks Consensus Estimate in the second quarter. Compared with the year-ago figures, the company’s earnings per share were lower, whereas the revenues were higher. Also, per its Vision 2030 strategy plan, the company has plans to introduce new electric and self-driving vehicles in the market. The company is increasingly focused on infrastructural development in North and South America with an aim to increase productions and boost it sales. Further, to expand its business, the company is undertaking frequent collaborations with many companies. However, higher R&D expenses, foreign currency fluctuations, frequent safety recalls and weak income guidance for 2018 are a few concerns for the company. Also, in the last six months, Honda’s shares have underperformed the industry it belongs to.”

Other equities analysts have also issued reports about the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $33.18 price target on shares of Honda Motor in a report on Friday, July 14th. J P Morgan Chase & Co lowered shares of Honda Motor from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 5th. Nomura raised shares of Honda Motor from a “reduce” rating to a “neutral” rating in a report on Tuesday, August 1st. BidaskClub lowered shares of Honda Motor from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Finally, Instinet raised shares of Honda Motor from a “reduce” rating to a “neutral” rating in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $34.18.

Honda Motor (NYSE:HMC) last released its quarterly earnings results on Tuesday, August 1st. The company reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.21. Honda Motor had a net margin of 4.58% and a return on equity of 8.57%. The business had revenue of $3,713 billion for the quarter, compared to analyst estimates of $3,525.55 billion. During the same period in the previous year, the company earned $96.93 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis.

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A number of hedge funds and other institutional investors have recently bought and sold shares of HMC. American Century Companies Inc. lifted its position in Honda Motor by 35.3% during the second quarter. American Century Companies Inc. now owns 5,581,290 shares of the company’s stock valued at $152,872,000 after purchasing an additional 1,455,144 shares during the period. Federated Investors Inc. PA increased its holdings in Honda Motor by 132.1% in the second quarter. Federated Investors Inc. PA now owns 1,270,557 shares of the company’s stock valued at $34,800,000 after buying an additional 723,125 shares in the last quarter. Prudential PLC increased its holdings in Honda Motor by 46.1% in the second quarter. Prudential PLC now owns 1,737,887 shares of the company’s stock valued at $47,601,000 after buying an additional 548,500 shares in the last quarter. Macquarie Group Ltd. increased its holdings in Honda Motor by 15.0% in the second quarter. Macquarie Group Ltd. now owns 3,809,248 shares of the company’s stock valued at $104,335,000 after buying an additional 496,345 shares in the last quarter. Finally, Mondrian Investment Partners LTD increased its holdings in Honda Motor by 26.4% in the second quarter. Mondrian Investment Partners LTD now owns 2,154,333 shares of the company’s stock valued at $58,167,000 after buying an additional 449,345 shares in the last quarter. Institutional investors own 2.58% of the company’s stock.

About Honda Motor

Honda Motor Co, Ltd. (Honda) develops, manufactures and markets motorcycles, automobiles and power products across the world. The Company’s segments include Motorcycle Business, Automobile business, Financial services business, and Power product and other businesses. The Company produces a range of motorcycles, with engine displacement ranging from the 50 cubic centimeters class to the 1,800 cubic centimeters class.

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