Shares of Tata Motors Ltd (NYSE:TTM) gapped up prior to trading on Tuesday . The stock had previously closed at $31.12, but opened at $31.82. Tata Motors shares last traded at $32.22, with a volume of 2,207,818 shares.

A number of research firms recently weighed in on TTM. Zacks Investment Research lowered shares of Tata Motors from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. BidaskClub lowered shares of Tata Motors from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Sanford C. Bernstein lowered shares of Tata Motors from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $45.00 to $30.00 in a research note on Friday, August 11th. Morgan Stanley lowered shares of Tata Motors from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 10th. Finally, ValuEngine lowered shares of Tata Motors from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $32.50.

The company’s 50 day moving average is $30.84 and its 200-day moving average is $34.01. The stock has a market capitalization of $21.62 billion, a price-to-earnings ratio of 19.53 and a beta of 2.29.

Tata Motors (NYSE:TTM) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.19 EPS for the quarter, missing the Zacks’ 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 company had revenue of $9.30 billion for the quarter. On average, equities research analysts predict that Tata Motors Ltd will post $1.84 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in shares of Tata Motors by 439.5% during the first quarter. PNC Financial Services Group Inc. now owns 5,406 shares of the company’s stock worth $194,000 after buying an additional 4,404 shares in the last quarter. Stifel Financial Corp acquired a new position in shares of Tata Motors during the first quarter worth about $209,000. RMB Capital Management LLC acquired a new position in shares of Tata Motors during the first quarter worth about $222,000. MML Investors Services LLC grew its position in shares of Tata Motors by 7.3% during the second quarter. MML Investors Services LLC now owns 6,460 shares of the company’s stock worth $213,000 after buying an additional 441 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Tata Motors during the second quarter worth about $226,000. 11.90% of the stock is owned by institutional investors and hedge funds.

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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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