Toyota Motor (NYSE:TM) Coverage Initiated at Morgan Stanley

Investment analysts at Morgan Stanley initiated coverage on shares of Toyota Motor (NYSE:TM) in a report released on Friday. The firm set an “equal weight” rating on the stock.

Several other research analysts have also recently issued reports on TM. Erste Group Bank cut shares of Toyota Motor from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. BNP Paribas Exane started coverage on shares of Toyota Motor in a report on Thursday, February 12th. They set an “outperform” rating and a $290.00 target price on the stock. Zacks Research upgraded shares of Toyota Motor from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Toyota Motor in a report on Monday, April 20th. Finally, DZ Bank upgraded shares of Toyota Motor from a “strong sell” rating to a “strong-buy” rating in a report on Monday, March 2nd. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $290.00.

Toyota Motor Trading Down 0.6%

TM stock traded down $1.17 during trading on Friday, hitting $191.45. The company had a trading volume of 30,822 shares, compared to its average volume of 330,125. The firm has a market capitalization of $249.52 billion, a P/E ratio of 10.10 and a beta of 0.66. Toyota Motor has a 52-week low of $167.18 and a 52-week high of $248.90. The company has a 50 day simple moving average of $213.98 and a 200-day simple moving average of $214.18. The company has a quick ratio of 1.12, a current ratio of 1.26 and a debt-to-equity ratio of 0.63.

Toyota Motor (NYSE:TM) last posted its quarterly earnings results on Saturday, February 7th. The company reported $6.26 EPS for the quarter, topping the consensus estimate of $4.35 by $1.91. Toyota Motor had a net margin of 7.32% and a return on equity of 9.67%. The company had revenue of $76.37 billion for the quarter, compared to the consensus estimate of $82 billion. As a group, research analysts forecast that Toyota Motor will post 18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Toyota Motor

A number of hedge funds have recently modified their holdings of the business. Grey Ledge Advisors LLC purchased a new stake in shares of Toyota Motor in the 3rd quarter worth about $1,556,000. Prime Capital Investment Advisors LLC raised its stake in Toyota Motor by 224.4% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 7,990 shares of the company’s stock valued at $1,710,000 after purchasing an additional 5,527 shares during the last quarter. Federated Hermes Inc. raised its stake in Toyota Motor by 22,450.6% in the 3rd quarter. Federated Hermes Inc. now owns 19,168 shares of the company’s stock valued at $3,663,000 after purchasing an additional 19,083 shares during the last quarter. Cullen Capital Management LLC raised its stake in Toyota Motor by 25.2% in the 3rd quarter. Cullen Capital Management LLC now owns 197,114 shares of the company’s stock valued at $37,667,000 after purchasing an additional 39,620 shares during the last quarter. Finally, Caprock Group LLC acquired a new position in Toyota Motor in the 3rd quarter valued at about $1,323,000. 1.48% of the stock is currently owned by hedge funds and other institutional investors.

Toyota Motor Company Profile

Toyota Motor Corporation is a global automotive manufacturer headquartered in Toyota City, Aichi, Japan. Founded in 1937 by Kiichiro Toyoda as an offshoot of Toyoda Automatic Loom Works, the company builds and sells a broad range of vehicles and related products under the Toyota and Lexus brands. Toyota’s operations encompass vehicle design, manufacturing, parts supply, and distribution through a worldwide dealer network, as well as complementary businesses such as vehicle financing and mobility services.

The company’s product lineup includes passenger cars, SUVs, pickup trucks, light commercial vehicles and heavy-duty commercial vehicles, along with engines and vehicle components.