Honda Motor (NYSE:HMC) Hits New 12-Month High – Still a Buy?

Shares of Honda Motor Co., Ltd. (NYSE:HMC) hit a new 52-week high during trading on Thursday. The stock traded as high as $34.59 and last traded at $34.5220, with a volume of 193,028 shares changing hands. The stock had previously closed at $33.97.

Analyst Ratings Changes

Several research firms recently weighed in on HMC. Weiss Ratings restated a “sell (d)” rating on shares of Honda Motor in a report on Monday, August 31st. BNP Paribas Exane initiated coverage on shares of Honda Motor in a research report on Friday, September 18th. They issued a “neutral” rating and a $34.00 price objective for the company. Wall Street Zen upgraded shares of Honda Motor from a “hold” rating to a “buy” rating in a research note on Saturday, September 19th. Finally, Zacks Research raised shares of Honda Motor from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Honda Motor Stock Up 1.8%

The stock has a fifty day moving average of $32.37 and a 200 day moving average of $28.74. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.29 and a quick ratio of 1.04. The firm has a market capitalization of $53.97 billion, a P/E ratio of -49.39 and a beta of 0.46.

Honda Motor (NYSE:HMC) last announced its quarterly earnings data on Wednesday, July 1st. The company reported $2.14 earnings per share (EPS) for the quarter. The firm had revenue of $37.27 billion during the quarter. Honda Motor had a negative return on equity of 1.30% and a negative net margin of 0.73%. On average, research analysts anticipate that Honda Motor Co., Ltd. will post 2.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Honda Motor

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Donald Smith & CO. Inc. purchased a new position in shares of Honda Motor in the 2nd quarter worth about $109,593,000. BlackRock Inc. increased its holdings in Honda Motor by 35.2% during the second quarter. BlackRock Inc. now owns 2,655,980 shares of the company’s stock worth $72,004,000 after buying an additional 691,165 shares during the last quarter. XY Capital Ltd bought a new stake in Honda Motor in the second quarter worth about $7,032,000. First Trust Advisors LP raised its position in Honda Motor by 16.5% in the first quarter. First Trust Advisors LP now owns 1,395,747 shares of the company’s stock worth $33,931,000 after acquiring an additional 197,431 shares during the period. Finally, Bank of America Corp DE raised its position in Honda Motor by 3.6% in the first quarter. Bank of America Corp DE now owns 2,834,932 shares of the company’s stock worth $68,917,000 after acquiring an additional 99,301 shares during the period. 5.32% of the stock is owned by hedge funds and other institutional investors.

Honda Motor Company Profile

Honda Motor Co, Ltd. is a Japan-based mobility company that develops, manufactures and sells automobiles, motorcycles and power products. Its automotive lineup includes passenger cars, light trucks, hybrid-electric vehicles and battery-electric vehicles, while its motorcycle business serves customers across commuter, recreational and performance segments. Honda also produces power equipment, including engines, generators, lawn and garden equipment, and other products.

Founded in 1948 by Soichiro Honda and Takeo Fujisawa, the company began as a manufacturer of motorcycle engines and grew into one of the world’s major vehicle producers.