Toyota Motor Corp (NYSE:TM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Toyota’s second-quarter fiscal 2017 earnings and revenues declined year over year. While earnings outpaced estimates, revenues missed the same. The company expects earnings, operating income and revenues to decline in fiscal 2017. The automaker agreed to settle a U.S. truck lawsuit by paying roughly $3.4 billion, which will weigh on its financials. A string of product recalls and declining sales outside Japan are other concerns for Toyota.”
Several other research firms have also recently commented on TM. Citigroup Inc. cut Toyota Motor Corp from a “buy” rating to a “neutral” rating in a report on Thursday, August 25th. Goldman Sachs Group Inc. cut Toyota Motor Corp from a “buy” rating to a “neutral” rating in a report on Monday, September 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $99.05.
Toyota Motor Corp (NYSE:TM) opened at 114.51 on Friday. The firm has a market capitalization of $171.95 billion, a price-to-earnings ratio of 9.65 and a beta of 0.82. Toyota Motor Corp has a 52-week low of $97.80 and a 52-week high of $127.28. The company’s 50-day moving average price is $114.20 and its 200 day moving average price is $111.21.
Several institutional investors have recently modified their holdings of TM. Thornburg Investment Management Inc. acquired a new stake in Toyota Motor Corp during the second quarter worth $29,706,000. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST acquired a new stake in Toyota Motor Corp during the second quarter worth $14,299,000. Bank of Montreal Can acquired a new stake in Toyota Motor Corp during the second quarter worth $11,984,000. LMR Partners LLP acquired a new stake in Toyota Motor Corp during the third quarter worth $12,228,000. Finally, First Trust Advisors LP boosted its stake in Toyota Motor Corp by 141.4% in the second quarter. First Trust Advisors LP now owns 167,987 shares of the company’s stock worth $16,797,000 after buying an additional 98,400 shares in the last quarter. 1.01% of the stock is owned by institutional investors and hedge funds.
Toyota Motor Corp 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.