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 note issued to investors on Tuesday. The brokerage currently has a $129.00 price objective on the stock. Zacks Investment Research’s target price would suggest a potential upside of 11.92% from the company’s previous close.
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.”
TM has been the topic of a number of other reports. Citigroup Inc. downgraded Toyota Motor Corp from a “buy” rating to a “neutral” rating in a research note on Thursday, August 25th. Goldman Sachs Group Inc. cut Toyota Motor Corp from a “buy” rating to a “neutral” rating in a report on Monday, September 5th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Toyota Motor Corp currently has an average rating of “Hold” and an average price target of $106.94.
Toyota Motor Corp (NYSE:TM) opened at 115.26 on Tuesday. Toyota Motor Corp has a 12-month low of $97.80 and a 12-month high of $127.28. The stock has a 50 day moving average price of $118.81 and a 200-day moving average price of $108.57. The stock has a market capitalization of $173.54 billion, a PE ratio of 8.17 and a beta of 0.70.
Large investors have recently bought and sold shares of the stock. Thornburg Investment Management Inc. acquired a new stake in Toyota Motor Corp during the second quarter worth approximately $29,706,000. Adage Capital Partners GP L.L.C. boosted its stake 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 boosted its stake 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 purchased a new stake in shares of Toyota Motor Corp during the second quarter valued at about $14,299,000. Finally, Bank of Montreal Can purchased a new stake in shares of Toyota Motor Corp during the second quarter valued at about $11,984,000.
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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