Toyota Motor Corp (TM) Raised to Buy at Zacks Investment Research
Toyota Motor Corp (NYSE:TM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $129.00 price target on the stock. Zacks Investment Research’s price target suggests a potential upside of 11.92% from the stock’s current price.
According to Zacks, “Toyota focuses on product development, capacity increases and expansion in emerging markets. The automaker also made several structural changes in order to deliver high-quality vehicles and improve the strength and autonomy of regional operations. Toyota, along with Daihatsu, plans to establish an internal company aimed at developing and launching competitive compact vehicles in the emerging markets where the potential for growth remains high. However, declining global sales, a string of product recalls and large fines pose concerns for Toyota. Also, the company issued a weak guidance for earnings, operating income and revenues for fiscal 2017.”
Several other research analysts have also recently issued reports on the company. Goldman Sachs Group Inc. cut Toyota Motor Corp from a “buy” rating to a “neutral” rating in a research report on Monday, September 5th. Citigroup Inc. cut Toyota Motor Corp from a “buy” rating to a “neutral” rating in a research report on Thursday, August 25th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Toyota Motor Corp currently has a consensus rating of “Hold” and an average target price of $106.94.
Toyota Motor Corp (NYSE:TM) opened at 115.26 on Tuesday. The firm has a market capitalization of $173.54 billion, a price-to-earnings ratio of 8.17 and a beta of 0.70. Toyota Motor Corp has a one year low of $97.80 and a one year high of $127.28. The firm has a 50-day moving average price of $118.81 and a 200-day moving average price of $108.57.
Several hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC purchased a new stake in shares of Toyota Motor Corp during the second quarter valued at about $101,000. CENTRAL TRUST Co raised its stake in shares of Toyota Motor Corp by 46.5% in the second quarter. CENTRAL TRUST Co now owns 1,040 shares of the company’s stock valued at $103,000 after buying an additional 330 shares during the last quarter. Winslow Evans & Crocker Inc. raised its stake in shares of Toyota Motor Corp by 95.4% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,114 shares of the company’s stock valued at $111,000 after buying an additional 544 shares during the last quarter. Alpha Omega Wealth Management LLC raised its stake in shares of Toyota Motor Corp by 34.8% in the second quarter. Alpha Omega Wealth Management LLC now owns 1,550 shares of the company’s stock valued at $155,000 after buying an additional 400 shares during the last quarter. Finally, Seven Eight Capital LLC raised its stake in shares of Toyota Motor Corp by 33.3% in the first quarter. Seven Eight Capital LLC now owns 1,600 shares of the company’s stock valued at $170,000 after buying an additional 400 shares during the last quarter.
Toyota Motor Corp Company Profile
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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