Tata Motors Ltd (TTM) Raised to Buy at Zacks Investment Research
Tata Motors Ltd (NYSE:TTM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage currently has a $35.00 price target on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 19.09% from the stock’s previous close.
According to Zacks, “Tata Motors is India’s leading automotive manufacturer. “
Several other analysts have also recently commented on TTM. ValuEngine cut shares of Tata Motors from a “buy” rating to a “hold” rating in a research note on Saturday, June 3rd. BidaskClub cut shares of Tata Motors from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Finally, Morgan Stanley cut shares of Tata Motors from an “overweight” rating to an “equal weight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $41.50.
Tata Motors (NYSE TTM) opened at 29.39 on Friday. Tata Motors has a 12-month low of $29.23 and a 12-month high of $44.79. The firm has a 50-day moving average of $34.31 and a 200-day moving average of $35.31. The stock has a market cap of $19.96 billion, a PE ratio of 20.92 and a beta of 2.26.
Tata Motors (NYSE:TTM) last released its earnings results on Wednesday, August 9th. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.21. Tata Motors had a return on equity of 19.45% and a net margin of 3.38%. The firm had revenue of $9.30 billion during the quarter. Equities analysts predict that Tata Motors will post $1.84 earnings per share for the current fiscal year.
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In related news, Director Carlos Yong acquired 300,000 shares of Tata Motors stock in a transaction that occurred on Tuesday, June 13th. The stock was purchased at an average price of $0.30 per share, for a total transaction of $90,000.00.
Several hedge funds have recently made changes to their positions in TTM. Fisher Asset Management LLC boosted its stake in shares of Tata Motors by 0.7% in the first quarter. Fisher Asset Management LLC now owns 9,059,921 shares of the company’s stock valued at $322,986,000 after buying an additional 60,739 shares during the period. Wellington Management Group LLP boosted its stake in shares of Tata Motors by 189.9% in the first quarter. Wellington Management Group LLP now owns 7,271,482 shares of the company’s stock valued at $259,228,000 after buying an additional 4,763,259 shares during the period. Coronation Fund Managers Ltd. boosted its stake in shares of Tata Motors by 8.3% in the second quarter. Coronation Fund Managers Ltd. now owns 5,494,847 shares of the company’s stock valued at $181,385,000 after buying an additional 421,696 shares during the period. Cambiar Investors LLC boosted its stake in shares of Tata Motors by 5.1% in the second quarter. Cambiar Investors LLC now owns 5,392,413 shares of the company’s stock valued at $178,004,000 after buying an additional 261,769 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Tata Motors by 22.8% in the second quarter. BlackRock Inc. now owns 2,921,844 shares of the company’s stock valued at $96,451,000 after buying an additional 542,597 shares during the period. Hedge funds and other institutional investors own 13.27% of the company’s stock.
About Tata Motors
Tata Motors Limited is an automobile company. The Company is engaged in manufacture of motor vehicles. The Company is engaged mainly in the business of automobile products consisting of all types of commercial and passenger vehicles, including financing of the vehicles sold by the Company. The Company’s segments include automotive operations and all other operations.
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