Zacks Investment Research upgraded shares of Toyota Motor Corp. (NYSE:TM) from a hold rating to a buy rating in a research report released on Tuesday morning. They currently have $129.00 target price on the stock.
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.”
A number of other equities research analysts have also issued reports on the company. Goldman Sachs Group Inc. lowered Toyota Motor Corp. from a buy rating to a neutral rating in a research note on Monday, September 5th. Citigroup Inc. lowered Toyota Motor Corp. from a buy rating to a neutral rating in a research note on Thursday, August 25th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Toyota Motor Corp. has a consensus rating of Hold and a consensus target price of $106.94.
Shares of Toyota Motor Corp. (NYSE:TM) opened at 116.657 on Tuesday. The firm has a 50-day moving average price of $118.75 and a 200 day moving average price of $108.63. The company has a market cap of $175.65 billion, a P/E ratio of 8.264 and a beta of 0.64. Toyota Motor Corp. has a 12 month low of $97.80 and a 12 month high of $127.28.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Thornburg Investment Management Inc. acquired a new position in shares of Toyota Motor Corp. during the second quarter valued at $29,706,000. Adage Capital Partners GP L.L.C. increased its position in shares of Toyota Motor Corp. by 25.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,320,729 shares of the company’s stock valued at $140,420,000 after buying an additional 265,680 shares during the period. Renaissance Technologies LLC increased its position in shares of Toyota Motor Corp. by 27.1% in the first quarter. Renaissance Technologies LLC now owns 705,700 shares of the company’s stock valued at $75,030,000 after buying an additional 150,400 shares during the period. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST acquired a new position in shares of Toyota Motor Corp. during the second quarter valued at $14,299,000. Finally, Bank of Montreal Can acquired a new position in shares of Toyota Motor Corp. during the second quarter valued at $11,984,000. Hedge funds and other institutional investors own 1.08% of the company’s stock.
About Toyota Motor Corp.
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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