Trade Report: Today, The Zacks Investment Research Downgrade Toyota Motor Corp (TM) to Sell

Today, The Zacks Investment Research Downgrade Toyota Motor Corp (TM) to Sell

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.”

A number of other research analysts have also weighed in on TM. Citigroup Inc. lowered Toyota Motor Corp from a “buy” rating to a “neutral” rating in a report on Thursday, August 25th. Goldman Sachs Group Inc. lowered Toyota Motor Corp from a “buy” rating to a “neutral” rating in a report on Monday, September 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $99.05.

Toyota Motor Corp (NYSE:TM) opened at 114.51 on Friday. The company has a market capitalization of $171.95 billion, a PE ratio of 9.65 and a beta of 0.82. The firm’s 50-day moving average is $114.20 and its 200 day moving average is $111.21. Toyota Motor Corp has a one year low of $97.80 and a one year high of $127.28.

A number of hedge funds have recently modified their holdings of TM. Rehmann Capital Advisory Group raised its stake in shares of Toyota Motor Corp by 1.2% in the third quarter. Rehmann Capital Advisory Group now owns 2,354 shares of the company’s stock valued at $273,000 after buying an additional 29 shares during the period. Creative Planning raised its stake in shares of Toyota Motor Corp by 0.5% in the second quarter. Creative Planning now owns 9,056 shares of the company’s stock valued at $906,000 after buying an additional 43 shares during the period. Rothschild Investment Corp IL raised its stake in shares of Toyota Motor Corp by 1.4% in the third quarter. Rothschild Investment Corp IL now owns 3,751 shares of the company’s stock valued at $435,000 after buying an additional 50 shares during the period. Silvercrest Asset Management Group LLC raised its stake in shares of Toyota Motor Corp by 0.3% in the second quarter. Silvercrest Asset Management Group LLC now owns 19,154 shares of the company’s stock valued at $1,915,000 after buying an additional 65 shares during the period. Finally, MSI Financial Services Inc raised its stake in shares of Toyota Motor Corp by 1.9% in the third quarter. MSI Financial Services Inc now owns 3,722 shares of the company’s stock valued at $432,000 after buying an additional 69 shares during the period. Hedge funds and other institutional investors own 1.01% of the company’s stock.

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.

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