Zacks Research Upgrades Toyota Motor (NYSE:TM) to Strong-Buy

Toyota Motor (NYSE:TM) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday, Zacks reports.

Several other equities research analysts also recently issued reports on TM. Erste Group Bank upgraded shares of Toyota Motor from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 18th. Weiss Ratings raised Toyota Motor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Toyota Motor has an average rating of “Buy” and an average price target of $290.00.

Toyota Motor Trading Down 0.4%

Toyota Motor stock opened at $195.79 on Thursday. Toyota Motor has a 52 week low of $166.10 and a 52 week high of $248.90. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.17. The stock has a market capitalization of $255.18 billion, a P/E ratio of 8.63, a PEG ratio of 1.24 and a beta of 0.61. The stock has a 50-day simple moving average of $192.14 and a 200 day simple moving average of $199.18.

Toyota Motor (NYSE:TM) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $7.42 earnings per share for the quarter. The firm had revenue of $83.16 billion for the quarter. Toyota Motor had a return on equity of 11.21% and a net margin of 8.61%. Analysts expect that Toyota Motor will post 21.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, President Kenta Kon bought 85,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was bought at an average price of $18.41 per share, with a total value of $1,564,850.00. Following the completion of the acquisition, the president owned 148,100 shares of the company’s stock, valued at $2,726,521. This represents a 134.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Hedge Funds Weigh In On Toyota Motor

Several institutional investors and hedge funds have recently modified their holdings of TM. Provenance Wealth Advisors LLC grew its position in Toyota Motor by 86.8% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 1,147 shares of the company’s stock worth $210,000 after purchasing an additional 533 shares in the last quarter. IPG Investment Advisors LLC lifted its position in shares of Toyota Motor by 76.2% during the 3rd quarter. IPG Investment Advisors LLC now owns 5,039 shares of the company’s stock worth $923,000 after buying an additional 2,179 shares in the last quarter. Trek Financial LLC lifted its position in shares of Toyota Motor by 7.9% during the 3rd quarter. Trek Financial LLC now owns 1,622 shares of the company’s stock worth $297,000 after buying an additional 119 shares in the last quarter. Bell Investment Advisors Inc boosted its stake in shares of Toyota Motor by 56.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 167 shares of the company’s stock worth $31,000 after buying an additional 60 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Toyota Motor by 10.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 10,294 shares of the company’s stock worth $1,885,000 after buying an additional 945 shares during the last quarter. 1.48% of the stock is currently owned by institutional investors and hedge funds.

Toyota Motor Company Profile

Toyota Motor Corporation is a Japanese automaker headquartered in Toyota City, Aichi Prefecture. Founded in 1937, the company develops, manufactures and sells passenger vehicles, commercial vehicles and related mobility products under the Toyota and Lexus brands. It also produces vehicles through the Hino and Daihatsu businesses.

Toyota’s product portfolio includes cars, trucks, sport utility vehicles, minivans and buses, along with hybrid-electric, battery-electric and hydrogen fuel-cell vehicles.