Toyota Motor Co. (TM) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Toyota Motor Co. (NYSE:TM) from a hold rating to a buy rating in a report published on Wednesday morning. Zacks Investment Research currently has $141.00 price target on the stock.
According to Zacks, “Toyota’s revenues and earnings beat the Zacks Consensus Estimate in the second quarter. Compared with the year-ago figures, both earnings per share and revenues were higher. Also, its operating income rose 10% to ¥522 billion ($4.7 billion) in the same quarter. With improved worldwide sales and cost-saving efforts, Toyota has increased its operating income guidance for fiscal 2018. The company has also been collaborating with other companies and is working on several technologies to launch autonomous and electric vehicles in the market. Also, in order to strengthen presence in the North American market, the company has collaborated with Mazda Motor to set up a new vehicle manufacturing plant in the United States.”
Several other equities research analysts have also recently commented on the stock. BidaskClub cut shares of Toyota Motor from a hold rating to a sell rating in a research report on Tuesday, July 25th. Citigroup Inc. raised shares of Toyota Motor from a neutral rating to a buy rating in a research report on Wednesday, October 4th. Finally, Jefferies Group LLC set a $116.00 price objective on shares of Toyota Motor and gave the company a hold rating in a research report on Tuesday, August 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Toyota Motor currently has a consensus rating of Hold and an average target price of $121.74.
Shares of Toyota Motor (NYSE:TM) opened at $123.29 on Wednesday. The company has a market cap of $201,350.00, a price-to-earnings ratio of 10.72, a P/E/G ratio of 1.69 and a beta of 0.66. Toyota Motor has a 52-week low of $103.62 and a 52-week high of $128.11. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.05 and a quick ratio of 0.90.
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A number of institutional investors and hedge funds have recently bought and sold shares of TM. Patten Group Inc. increased its stake in Toyota Motor by 3,974.2% in the 3rd quarter. Patten Group Inc. now owns 38,094 shares of the company’s stock valued at $108,000 after buying an additional 37,159 shares during the last quarter. FNY Managed Accounts LLC acquired a new stake in Toyota Motor in the 3rd quarter valued at $112,000. Legacy Advisors LLC acquired a new stake in Toyota Motor in the 3rd quarter valued at $115,000. Parallel Advisors LLC increased its stake in Toyota Motor by 63.6% in the 2nd quarter. Parallel Advisors LLC now owns 1,042 shares of the company’s stock valued at $118,000 after buying an additional 405 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Toyota Motor by 36.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,415 shares of the company’s stock valued at $148,000 after buying an additional 379 shares during the last quarter. 0.84% of the stock is currently owned by institutional investors and hedge funds.
About Toyota Motor
Toyota Motor Corporation (Toyota) conducts business in the automotive industry. The Company also conducts business in finance and other industries. The Company’s segments include Automotive, Financial Services and All Other. Toyota sells its vehicles in approximately 190 countries and regions. Toyota’s markets for its automobiles are Japan, North America, Europe and Asia.
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