Toyota Motor Corp. (TM) Lowered to “Sell” at Zacks Investment Research
According to Zacks, “Toyota’s second-quarter fiscal 2017 earnings and revenues declined year over year. While earnings outpaced estimates, revenues missed the same. The company expects earnings, operating income and revenues to decline in fiscal 2017. The automaker agreed to settle a U.S. truck lawsuit by paying roughly $3.4 billion, which will weigh on its financials. A string of product recalls and declining sales outside Japan are other concerns for Toyota.”
A number of other equities analysts have also commented on TM. Goldman Sachs Group Inc. lowered shares of Toyota Motor Corp. from a buy rating to a neutral rating in a research note on Monday, September 5th. Citigroup Inc. lowered shares of Toyota Motor Corp. from a buy rating to a neutral rating in a research note on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $99.05.
Shares of Toyota Motor Corp. (NYSE:TM) opened at 117.80 on Friday. Toyota Motor Corp. has a 12-month low of $97.80 and a 12-month high of $127.28. The firm has a market capitalization of $176.90 billion, a P/E ratio of 10.13 and a beta of 0.82. The stock’s 50 day moving average price is $114.24 and its 200-day moving average price is $111.32.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in TM. Hsbc Holdings PLC purchased a new position in shares of Toyota Motor Corp. during the second quarter valued at approximately $101,000. CENTRAL TRUST Co increased its position 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 period. Winslow Evans & Crocker Inc. increased its position 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 period. The Manufacturers Life Insurance Company purchased a new position in shares of Toyota Motor Corp. during the third quarter valued at approximately $131,000. Finally, Feltz Wealth PLAN Inc. purchased a new position in shares of Toyota Motor Corp. during the second quarter valued at approximately $150,000. Institutional investors and hedge funds own 0.94% of the company’s stock.
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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