Zacks Investment Research lowered shares of Toyota Motor (NYSE:TM) from a buy rating to a hold rating in a report issued on Friday morning.

According to Zacks, “In second-quarter fiscal 2019, Toyota’s earnings surpassed the Zacks Consensus Estimate while consolidated revenues missed the same. However, the figures improved year over year. This, year-over-year rise in earnings is partly due to the company’s fixed cost-reduction activities. With a target to cut costs by 20%, Toyota plans to shift production to new cost-saving platforms by 2020. Further, in order to develop autonomous vehicle services, Toyota is collaborating with other companies. In October, it collaborated with SoftBank Corp. to develop e-Palette concept-based multi-purpose mobility service. Also, over the past three months shares of Toyota have outperformed the industry it belongs to. However, its frequent vehicle recalls in huge numbers led to additional expenses and lowered vehicle resale value, creating headwinds for Toyota.”

Several other equities research analysts have also recently commented on TM. ValuEngine cut Toyota Motor from a hold rating to a sell rating in a report on Wednesday, August 15th. Bank of America upgraded Toyota Motor from a neutral rating to a buy rating in a research report on Monday, October 22nd. JPMorgan Chase & Co. upgraded Toyota Motor from a neutral rating to an overweight rating in a research report on Monday, November 19th. Finally, Jefferies Financial Group upgraded Toyota Motor from a hold rating to a buy rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $133.00.

Shares of NYSE:TM traded down $1.86 during midday trading on Friday, hitting $119.97. The company had a trading volume of 206,128 shares, compared to its average volume of 203,659. Toyota Motor has a twelve month low of $114.14 and a twelve month high of $140.99. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.89 and a current ratio of 1.03. The stock has a market cap of $178.99 billion, a PE ratio of 7.98, a P/E/G ratio of 1.69 and a beta of 0.75.

Toyota Motor (NYSE:TM) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $3.59 EPS for the quarter, beating the consensus estimate of $3.17 by $0.42. Toyota Motor had a return on equity of 13.51% and a net margin of 8.89%. The firm had revenue of $65.59 billion during the quarter, compared to analysts’ expectations of $66.83 billion. As a group, analysts predict that Toyota Motor will post 14.58 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Crossmark Global Holdings Inc. grew its position in Toyota Motor by 9.4% in the third quarter. Crossmark Global Holdings Inc. now owns 175,662 shares of the company’s stock worth $21,844,000 after acquiring an additional 15,158 shares during the period. Bank of New York Mellon Corp grew its position in Toyota Motor by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 134,271 shares of the company’s stock worth $17,295,000 after acquiring an additional 1,574 shares during the period. Morgan Stanley boosted its position in shares of Toyota Motor by 5.3% during the second quarter. Morgan Stanley now owns 428,104 shares of the company’s stock worth $55,144,000 after buying an additional 21,662 shares during the period. Accuvest Global Advisors purchased a new position in shares of Toyota Motor during the third quarter worth $525,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Toyota Motor during the second quarter worth $309,000. Institutional investors own 0.70% of the company’s stock.

Toyota Motor Company Profile

Toyota Motor Corporation designs, manufactures, assembles, and sells passenger vehicles, minivans and commercial vehicles, and related parts and accessories. It operates through Automotive, Financial Services, and All Other segments. The company offers hybrid cars under the Prius, Alphard, Vellfire, Sienta, RX-HV, Auris, Prius PHV, C-HR, LC, Camry, JPN TAXI, Avalon, Corolla HB, Crown, and Century names; fuel cell vehicles under the MIRAI and SORA names; and conventional engine vehicles, including subcompact and compact cars under the Corolla, Yaris, Vitz, Aygo, Prius C, Aqua, Passo, Roomy, Tank, Etios, Vios, AGYA, Rush, and Yaris iA names.

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