Toyota Motor (TM) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of Toyota Motor (NYSE:TM) from a buy rating to a hold rating in a report released on Friday morning.
According to Zacks, “Toyota’s is gaining from its cost reduction initiatives and uptrend in worldwide sales, including sales in Japan. The company plans to sell 5.5 million of electrified vehicles by 2030 for which it is collaborating with various companies to develop batteries. Additionally, by 2025, it has planned to sell vehicles either with a dedicated electrified model or an electrified option. The company is also focusing on the reuse and recycling of batteries for which it is promoting the usage of plug-in vehicle charging and hydrogen refueling stations. However, frequent vehicle recalls and large fines related to safety defects in some of its vehicles as well as to settle lawsuits are few concerns for the company. Also, over a month, Toyota’s shares have underperformed the industry it belongs to.”
Other research analysts have also recently issued research reports about the stock. ValuEngine cut shares of Toyota Motor from a strong-buy rating to a buy rating in a report on Wednesday, March 7th. Jefferies Group restated a hold rating and issued a $130.00 price objective on shares of Toyota Motor in a report on Wednesday, April 11th. UBS upgraded shares of Toyota Motor from a sell rating to a neutral rating in a report on Tuesday, March 27th. Bank of America upgraded shares of Toyota Motor from an underperform rating to a neutral rating in a report on Thursday, March 1st. Finally, Macquarie upgraded shares of Toyota Motor from a neutral rating to an outperform rating in a research note on Tuesday, February 6th. Six equities research analysts have rated the stock with 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 an average target price of $130.41.
A number of institutional investors have recently modified their holdings of TM. Steward Partners Investment Advisory LLC purchased a new position in Toyota Motor in the third quarter worth approximately $110,000. Calton & Associates Inc. purchased a new position in Toyota Motor in the fourth quarter worth approximately $125,000. The Manufacturers Life Insurance Company lifted its stake in Toyota Motor by 36.6% in the second quarter. The Manufacturers Life Insurance Company now owns 1,415 shares of the company’s stock worth $148,000 after acquiring an additional 379 shares during the last quarter. Bingham Osborn & Scarborough LLC purchased a new position in Toyota Motor in the fourth quarter worth approximately $200,000. Finally, Good Life Advisors LLC purchased a new position in Toyota Motor in the fourth quarter worth approximately $205,000. Institutional investors own 0.77% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Toyota Motor (TM) Downgraded by Zacks Investment Research” was first posted by Daily Political and is the sole property of of Daily Political. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of U.S. and international trademark and copyright law. The original version of this piece of content can be viewed at https://www.dailypolitical.com/2018/04/17/toyota-motor-tm-downgraded-by-zacks-investment-research.html.
Toyota Motor Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Toyota Motor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Toyota Motor and related companies with MarketBeat.com's FREE daily email newsletter.