Honda Motor Co. (HMC) Upgraded to Buy by Zacks Investment Research
Honda Motor Co. (NYSE:HMC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $32.00 price target on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 10.31% from the company’s current price.
According to Zacks, “Honda’s focus on product and infrastructure development, and rapid expansion in Asia are tailwinds. The company’s wide product line-up should help boost sales. Operating income and net income are also expected to improve in fiscal 2017. However, Honda is bearing the brunt of frequent recalls to fix faulty Takata airbags. A weak fiscal 2017 revenue guidance, falling sales in Japan and high research and development (R&D) expenses are other concerns. Honda’s quarterly earnings estimates have increased significantly over the last 60 days.”
Separately, TheStreet upgraded shares of Honda Motor from a “hold” rating to a “buy” rating in a report on Friday, August 12th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $32.40.
Shares of Honda Motor (NYSE:HMC) opened at 29.01 on Tuesday. The stock has a 50 day moving average of $29.96 and a 200-day moving average of $27.73. The firm has a market capitalization of $52.28 billion, a price-to-earnings ratio of 15.77 and a beta of 1.09. Honda Motor has a one year low of $24.03 and a one year high of $33.87.
Honda Motor (NYSE:HMC) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $96.93 earnings per share for the quarter, beating analysts’ consensus estimates of $74.83 by $22.10. The business earned $3,471.70 billion during the quarter, compared to analyst estimates of $3,452.87 billion. Honda Motor had a net margin of 2.35% and a return on equity of 4.88%. The company’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $103.22 earnings per share. On average, equities analysts anticipate that Honda Motor will post $2.64 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in HMC. IFP Advisors Inc increased its stake in Honda Motor by 42.7% in the second quarter. IFP Advisors Inc now owns 4,312 shares of the company’s stock valued at $109,000 after buying an additional 1,291 shares in the last quarter. Balentine LLC increased its stake in Honda Motor by 5.8% in the second quarter. Balentine LLC now owns 5,397 shares of the company’s stock valued at $137,000 after buying an additional 297 shares in the last quarter. BlackRock Institutional Trust Company N.A. acquired a new stake in Honda Motor during the first quarter valued at about $159,000. Glenmede Trust Co. NA increased its stake in Honda Motor by 4.3% in the second quarter. Glenmede Trust Co. NA now owns 6,591 shares of the company’s stock valued at $166,000 after buying an additional 270 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its stake in Honda Motor by 0.7% in the second quarter. Sunbelt Securities Inc. now owns 7,235 shares of the company’s stock valued at $183,000 after buying an additional 51 shares in the last quarter. Institutional investors own 3.01% of the company’s stock.
Honda Motor Company Profile
Honda Motor Co, Ltd. (Honda) develops, manufactures and markets motorcycles, automobiles and power products across the world. The Company’s segments include Motorcycle Business, Automobile business, Financial services business, and Power product and other businesses. The Company produces a range of motorcycles, with engine displacement ranging from the 50 cubic centimeters class to the 1,800 cubic centimeters class.
Receive News & Stock Ratings for Honda Motor Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Honda Motor Co. and related stocks with our FREE daily email newsletter.