Honda Motor Co. (HMC) Rating Increased to Hold at Zacks Investment Research
Honda Motor Co. (NYSE:HMC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Honda’s second-quarter earnings increased year over year and surpassed estimates. Revenues however, declined and missed estimates. 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.”
Separately, TheStreet raised Honda Motor from a “hold” rating to a “buy” rating in a research note on Friday, August 12th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Honda Motor presently has a consensus rating of “Hold” and a consensus price target of $32.40.
Shares of Honda Motor (NYSE:HMC) opened at 28.95 on Wednesday. Honda Motor has a 52-week low of $24.03 and a 52-week high of $33.42. The stock has a 50 day moving average price of $29.10 and a 200-day moving average price of $28.14. The firm has a market capitalization of $52.18 billion, a PE ratio of 14.58 and a beta of 1.21.
Hedge funds have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. bought a new stake in shares of Honda Motor during the first quarter worth approximately $16,404,000. A.R.T. Advisors LLC raised its stake in shares of Honda Motor by 79.1% in the first quarter. A.R.T. Advisors LLC now owns 52,746 shares of the company’s stock worth $1,442,000 after buying an additional 23,300 shares in the last quarter. LPL Financial LLC raised its stake in shares of Honda Motor by 4.2% in the first quarter. LPL Financial LLC now owns 37,986 shares of the company’s stock worth $974,000 after buying an additional 1,546 shares in the last quarter. First Republic Investment Management Inc. raised its stake in shares of Honda Motor by 57.6% in the first quarter. First Republic Investment Management Inc. now owns 22,857 shares of the company’s stock worth $625,000 after buying an additional 8,358 shares in the last quarter. Finally, First Hawaiian Bank raised its stake in shares of Honda Motor by 0.3% in the second quarter. First Hawaiian Bank now owns 141,999 shares of the company’s stock worth $3,597,000 after buying an additional 421 shares in the last quarter. 2.94% of the stock is owned by hedge funds and other institutional investors.
About Honda Motor
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.
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