Tata Motors Ltd (TTM) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Tata Motors Ltd (NYSE:TTM) from a sell rating to a buy rating in a research note released on Saturday morning. The firm currently has $36.00 price target on the stock.
According to Zacks, “Tata Motors is India’s leading automotive manufacturer. “
A number of other brokerages also recently commented on TTM. BidaskClub downgraded Tata Motors from a hold rating to a sell rating in a research report on Tuesday, August 1st. Morgan Stanley downgraded Tata Motors from an overweight rating to an equal weight rating in a report on Thursday, August 10th. Stifel Nicolaus raised Tata Motors from a hold rating to a buy rating in a report on Friday, August 25th. Finally, Sanford C. Bernstein downgraded Tata Motors from an outperform rating to a market perform rating and lowered their price target for the company from $45.00 to $30.00 in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $33.00.
Shares of Tata Motors (NYSE TTM) traded up $0.67 during trading on Friday, hitting $32.48. The stock had a trading volume of 1,205,655 shares, compared to its average volume of 1,785,894. Tata Motors has a 1-year low of $28.97 and a 1-year high of $40.34. The firm has a market capitalization of $22,058.34, a P/E ratio of 21.51, a PEG ratio of 0.24 and a beta of 2.23. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.63 and a current ratio of 0.98.
Several institutional investors have recently added to or reduced their stakes in TTM. Cambiar Investors LLC raised its stake in shares of Tata Motors by 27.0% during the third quarter. Cambiar Investors LLC now owns 6,848,893 shares of the company’s stock worth $214,165,000 after purchasing an additional 1,456,480 shares during the last quarter. BT Investment Management Ltd purchased a new stake in shares of Tata Motors during the second quarter worth approximately $19,344,000. BlackRock Inc. raised its position in Tata Motors by 22.8% in the second quarter. BlackRock Inc. now owns 2,921,844 shares of the company’s stock worth $96,451,000 after acquiring an additional 542,597 shares in the last quarter. Coronation Fund Managers Ltd. raised its position in Tata Motors by 8.3% in the second quarter. Coronation Fund Managers Ltd. now owns 5,494,847 shares of the company’s stock worth $181,385,000 after acquiring an additional 421,696 shares in the last quarter. Finally, NINE MASTS CAPITAL Ltd raised its position in Tata Motors by 71.1% in the second quarter. NINE MASTS CAPITAL Ltd now owns 810,998 shares of the company’s stock worth $27,256,000 after acquiring an additional 337,113 shares in the last quarter. Institutional investors and hedge funds own 11.61% of the company’s stock.
Tata Motors Company Profile
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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