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

Honda Motor Co., Ltd. (NYSE:HMC)’s share price reached a new 52-week high during trading on Wednesday. The stock traded as high as $34.97 and last traded at $34.9350, with a volume of 75,576 shares. The stock had previously closed at $33.99.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on HMC shares. Weiss Ratings upgraded Honda Motor from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 22nd. Wall Street Zen raised Honda Motor from a “hold” rating to a “buy” rating in a research report on Saturday, September 19th. Zacks Research upgraded Honda Motor from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Finally, BNP Paribas Exane assumed coverage on Honda Motor in a report on Friday, September 18th. They set a “neutral” rating and a $34.00 price target on the stock. Two equities research 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 company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.00.

Honda Motor Stock Performance

The company has a market cap of $54.99 billion, a P/E ratio of -50.27 and a beta of 0.49. The company’s 50-day moving average is $32.72 and its two-hundred day moving average is $28.98. The company has a quick ratio of 1.04, a current ratio of 1.29 and a debt-to-equity ratio of 0.69.

Honda Motor (NYSE:HMC) last announced its quarterly earnings data on Wednesday, July 1st. The company reported $2.14 EPS for the quarter. The business had revenue of $37.27 billion for the quarter. Honda Motor had a negative net margin of 0.73% and a negative return on equity of 1.30%. Equities analysts predict that Honda Motor Co., Ltd. will post 2.32 EPS for the current year.

Institutional Investors Weigh In On Honda Motor

Several large investors have recently modified their holdings of the stock. M Holdings Securities Inc. bought a new stake in shares of Honda Motor in the 3rd quarter worth approximately $487,000. Parallel Advisors LLC grew its holdings in Honda Motor by 10.2% during the third quarter. Parallel Advisors LLC now owns 11,727 shares of the company’s stock valued at $371,000 after purchasing an additional 1,083 shares during the period. May Hill Capital LLC bought a new position in Honda Motor during the third quarter valued at $227,000. Kestra Advisory Services LLC increased its position in Honda Motor by 32.4% in the third quarter. Kestra Advisory Services LLC now owns 17,402 shares of the company’s stock worth $550,000 after buying an additional 4,261 shares during the last quarter. Finally, Ascent Group LLC purchased a new stake in Honda Motor in the third quarter worth $262,000. Hedge funds and other institutional investors own 5.32% of the company’s stock.

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.