Tata Motors (TTM) Upgraded at Zacks Investment Research
Tata Motors (NYSE:TTM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday. The brokerage presently has a $37.00 price objective on the stock. Zacks Investment Research‘s target price points to a potential upside of 11.78% from the stock’s previous close.
According to Zacks, “Tata Motors is India’s leading automotive manufacturer. “
A number of other research firms also recently issued reports on TTM. Jefferies Group began coverage on shares of Tata Motors in a research note on Monday, January 8th. They issued a “buy” rating on the stock. ValuEngine raised shares of Tata Motors from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Tata Motors has an average rating of “Hold” and an average target price of $33.50.
Tata Motors (NYSE:TTM) last released its quarterly earnings results on Thursday, November 9th. The company reported $0.57 earnings per share (EPS) for the quarter. Tata Motors had a net margin of 4.05% and a return on equity of 14.78%. analysts anticipate that Tata Motors will post 3.52 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in TTM. NEXT Financial Group Inc purchased a new stake in shares of Tata Motors in the 3rd quarter valued at approximately $100,000. MML Investors Services LLC raised its stake in shares of Tata Motors by 7.3% in the 2nd quarter. MML Investors Services LLC now owns 6,460 shares of the company’s stock valued at $213,000 after acquiring an additional 441 shares during the period. Advisor Group Inc. raised its stake in shares of Tata Motors by 8.1% in the 2nd quarter. Advisor Group Inc. now owns 7,254 shares of the company’s stock valued at $214,000 after acquiring an additional 542 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Tata Motors in the 2nd quarter valued at approximately $226,000. Finally, Stifel Financial Corp acquired a new position in shares of Tata Motors in the third quarter valued at approximately $231,000. 10.91% of the stock is currently 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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