Tata Motors Ltd (TTM) Upgraded at BidaskClub
BidaskClub upgraded shares of Tata Motors Ltd (NYSE:TTM) from a sell rating to a hold rating in a research note released on Wednesday morning.
Several other research firms have also weighed in on TTM. Zacks Investment Research upgraded shares of Tata Motors from a sell rating to a hold rating and set a $39.00 price objective on the stock in a research note on Saturday, April 15th. ValuEngine lowered shares of Tata Motors from a buy rating to a hold rating in a research note on Saturday, June 3rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $43.50.
Tata Motors (TTM) remained flat at $35.36 during midday trading on Wednesday. 292,281 shares of the stock were exchanged. Tata Motors has a 12 month low of $31.71 and a 12 month high of $44.79. The stock has a 50 day moving average price of $35.20 and a 200-day moving average price of $35.63.
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In related news, Director Carlos Yong purchased 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were acquired at an average price of $0.30 per share, for a total transaction of $90,000.00.
A number of hedge funds and other institutional investors have recently made changes to their positions in TTM. Fisher Asset Management LLC raised its position in shares of Tata Motors by 0.7% in the first quarter. Fisher Asset Management LLC now owns 9,059,921 shares of the company’s stock worth $322,986,000 after buying an additional 60,739 shares during the period. Wellington Management Group LLP increased its stake in Tata Motors by 189.9% in the first quarter. Wellington Management Group LLP now owns 7,271,482 shares of the company’s stock worth $259,228,000 after buying an additional 4,763,259 shares in the last quarter. Cambiar Investors LLC acquired a new stake in Tata Motors during the first quarter worth about $182,907,000. Coronation Fund Managers Ltd. increased its stake in Tata Motors by 15.9% in the first quarter. Coronation Fund Managers Ltd. now owns 5,073,151 shares of the company’s stock worth $180,858,000 after buying an additional 695,674 shares in the last quarter. Finally, Morgan Stanley increased its stake in Tata Motors by 65.1% in the first quarter. Morgan Stanley now owns 2,454,241 shares of the company’s stock worth $87,494,000 after buying an additional 968,093 shares in the last quarter. Institutional investors and hedge funds own 13.79% of the company’s stock.
About Tata Motors
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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