Honda Motor (NYSE:HMC) Rating Lowered to “Strong Sell” at Zacks Research

Honda Motor (NYSE:HMC) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. BNP Paribas Exane started coverage on shares of Honda Motor in a report on Thursday, February 12th. They set an “underperform” rating and a $25.00 price target for the company. Nomura raised shares of Honda Motor to a “strong-buy” rating in a report on Tuesday, December 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Honda Motor in a report on Monday, December 29th. Wall Street Zen cut shares of Honda Motor from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. Finally, Morgan Stanley cut shares of Honda Motor from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $25.00.

Honda Motor Price Performance

Shares of HMC opened at $23.51 on Monday. Honda Motor has a fifty-two week low of $23.25 and a fifty-two week high of $34.89. The company has a market capitalization of $36.70 billion, a price-to-earnings ratio of 9.37, a price-to-earnings-growth ratio of 0.85 and a beta of 0.43. The firm has a 50-day simple moving average of $28.05 and a 200-day simple moving average of $29.67. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 1.36.

Honda Motor (NYSE:HMC) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.24. The firm had revenue of $29.99 billion during the quarter, compared to analysts’ expectations of $33.34 billion. Honda Motor had a net margin of 2.34% and a return on equity of 4.01%. On average, equities research analysts anticipate that Honda Motor will post 3.99 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HMC. WealthCollab LLC increased its holdings in Honda Motor by 66.2% in the second quarter. WealthCollab LLC now owns 916 shares of the company’s stock valued at $26,000 after buying an additional 365 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Honda Motor in the third quarter valued at about $26,000. Newbridge Financial Services Group Inc. purchased a new position in Honda Motor in the second quarter valued at about $29,000. Lodestone Wealth Management LLC purchased a new position in Honda Motor in the fourth quarter valued at about $32,000. Finally, Sound Income Strategies LLC purchased a new position in Honda Motor in the fourth quarter valued at about $33,000. 5.32% of the stock is owned by hedge funds and other institutional investors.

Honda Motor Company Profile

Honda Motor Co, Ltd. is a global manufacturer and mobility company headquartered in Minato, Tokyo, Japan, founded in 1948 by Soichiro Honda and Takeo Fujisawa. The company’s core businesses include the design, manufacture and sale of automobiles and motorcycles, along with a diverse portfolio of power products, engines and related components. Honda also operates in aviation through Honda Aircraft Company and offers financial services that support vehicle sales and leasing.

In automobiles, Honda is known for a range of passenger cars, crossovers and light trucks, and in motorcycles it is one of the world’s leading producers by volume and model breadth.