Zacks Investment Research downgraded shares of Tata Motors Ltd. (NYSE:TTM) from a hold rating to a sell rating in a research note published on Tuesday morning.

According to Zacks, “Tata Motors is India’s leading automotive manufacturer. “

Several other analysts also recently issued reports on TTM. Sanford C. Bernstein raised shares of Tata Motors from a market perform rating to an outperform rating and set a $48.00 price objective for the company in a research note on Monday. Credit Suisse Group AG raised shares of Tata Motors from a neutral rating to an outperform rating in a research note on Tuesday, November 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $42.49.

Shares of Tata Motors (NYSE:TTM) traded down 1.62% on Tuesday, hitting $33.42. The company’s stock had a trading volume of 190,996 shares. Tata Motors has a 52 week low of $20.00 and a 52 week high of $44.79. The firm has a market cap of $22.70 billion, a price-to-earnings ratio of 13.92 and a beta of 2.87. The stock’s 50-day moving average price is $39.01 and its 200-day moving average price is $37.09.

Institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new position in Tata Motors during the second quarter valued at about $19,251,000. Acadian Asset Management LLC raised its position in Tata Motors by 47.2% in the second quarter. Acadian Asset Management LLC now owns 1,423,116 shares of the company’s stock valued at $49,342,000 after buying an additional 456,648 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Tata Motors during the second quarter valued at about $413,000. James Investment Research Inc. raised its position in Tata Motors by 253.1% in the second quarter. James Investment Research Inc. now owns 11,300 shares of the company’s stock valued at $392,000 after buying an additional 8,100 shares in the last quarter. Finally, Hexavest Inc. raised its position in Tata Motors by 6.4% in the second quarter. Hexavest Inc. now owns 14,169 shares of the company’s stock valued at $491,000 after buying an additional 851 shares in the last quarter. 12.11% of the stock is currently owned by institutional investors and hedge funds.

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Tata Motors Company Profile

Tata Motors Limited is an automobile company. The Company is engaged in the business of automobile products consisting of all types of commercial and passenger vehicles, including financing of the vehicles sold by the Company. Its operating segments include automotive operations and all other operations.

5 Day Chart for NYSE:TTM

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