Zacks Investment Research upgraded shares of Toyota Motor Corp. (NYSE:TM) from a hold rating to a buy rating in a research note published on Tuesday morning. The firm currently has $129.00 price objective on the stock.
According to Zacks, “Toyota focuses on product development, capacity increases and expansion in emerging markets. The automaker also made several structural changes in order to deliver high-quality vehicles and improve the strength and autonomy of regional operations. Toyota, along with Daihatsu, plans to establish an internal company aimed at developing and launching competitive compact vehicles in the emerging markets where the potential for growth remains high. However, declining global sales, a string of product recalls and large fines pose concerns for Toyota. Also, the company issued a weak guidance for earnings, operating income and revenues for fiscal 2017.”
Other equities analysts have also issued research reports about the company. Goldman Sachs Group Inc. lowered Toyota Motor Corp. from a buy rating to a neutral rating in a research note on Monday, September 5th. Citigroup Inc. cut Toyota Motor Corp. from a buy rating to a neutral rating in a research report on Thursday, August 25th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $106.94.
Shares of Toyota Motor Corp. (NYSE:TM) opened at 115.89 on Tuesday. The firm’s 50-day moving average price is $118.57 and its 200-day moving average price is $108.81. Toyota Motor Corp. has a 12 month low of $97.80 and a 12 month high of $127.28. The stock has a market capitalization of $174.49 billion, a P/E ratio of 8.27 and a beta of 0.64.
Large investors have recently bought and sold shares of the company. Creative Planning boosted its stake in 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 last quarter. Silvercrest Asset Management Group LLC boosted its stake in 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 last quarter. Aspiriant LLC boosted its stake in Toyota Motor Corp. by 3.5% in the second quarter. Aspiriant LLC now owns 2,391 shares of the company’s stock valued at $317,000 after buying an additional 80 shares during the last quarter. Auxier Asset Management boosted its stake in Toyota Motor Corp. by 4.6% in the second quarter. Auxier Asset Management now owns 2,275 shares of the company’s stock valued at $227,000 after buying an additional 100 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. boosted its stake in Toyota Motor Corp. by 2.4% in the second quarter. Independent Portfolio Consultants Inc. now owns 6,483 shares of the company’s stock valued at $648,000 after buying an additional 150 shares during the last quarter. Institutional investors own 1.08% 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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