Zacks Investment Research cut shares of Toyota Motor Corp. (NYSE:TM) from a hold rating to a sell rating in a research report released on Friday.

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.”

TM has been the topic of a number of other research reports. Goldman Sachs Group Inc. downgraded Toyota Motor Corp. from a buy rating to a neutral rating in a research report on Monday, September 5th. Citigroup Inc. downgraded Toyota Motor Corp. from a buy rating to a neutral rating in a research report on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $99.05.

Analyst Recommendations for Toyota Motor Corp. (NYSE:TM)

Shares of Toyota Motor Corp. (NYSE:TM) opened at 118.53 on Friday. Toyota Motor Corp. has a 52 week low of $97.80 and a 52 week high of $127.28. The company’s 50 day moving average price is $114.34 and its 200-day moving average price is $111.72. The stock has a market capitalization of $177.99 billion, a PE ratio of 10.19 and a beta of 0.82.

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Large investors have recently bought and sold shares of the company. Hsbc Holdings PLC acquired a new stake in Toyota Motor Corp. during the second quarter valued at about $101,000. CENTRAL TRUST Co boosted its stake 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 worth $103,000 after buying an additional 330 shares during the last quarter. Winslow Evans & Crocker Inc. boosted its stake 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 worth $111,000 after buying an additional 544 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Toyota Motor Corp. during the third quarter worth $131,000. Finally, Feltz Wealth PLAN Inc. purchased a new stake in shares of Toyota Motor Corp. during the second quarter worth $150,000. 0.94% of the stock is owned by institutional investors.

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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