Toyota Motor Corp. (TM) Downgraded by Zacks Investment Research
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. lowered shares of Toyota Motor Corp. from a buy rating to a neutral rating in a research report on Thursday, August 25th. Goldman Sachs Group Inc. lowered shares of Toyota Motor Corp. from a buy rating to a neutral rating in a research report on Monday, September 5th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $106.94.
Toyota Motor Corp. (NYSE:TM) opened at 116.42 on Thursday. The stock’s 50 day moving average price is $118.48 and its 200 day moving average price is $108.89. Toyota Motor Corp. has a 12-month low of $97.80 and a 12-month high of $127.28. The company has a market capitalization of $175.29 billion, a PE ratio of 8.31 and a beta of 0.64.
A number of institutional investors have recently added to or reduced their stakes in the company. Thornburg Investment Management Inc. purchased a new position in Toyota Motor Corp. during the second quarter valued at about $29,706,000. Adage Capital Partners GP L.L.C. raised its position in 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 in the last quarter. Renaissance Technologies LLC raised its position in 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 in the last quarter. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST purchased a new position in Toyota Motor Corp. during the second quarter valued at about $14,299,000. Finally, Bank of Montreal Can purchased a new position in Toyota Motor Corp. during the second quarter valued at about $11,984,000. 1.08% of the stock is currently owned by institutional investors and hedge funds.
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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