Honda Motor (NYSE:HMC) Sets New 52-Week High – Here’s What Happened

Honda Motor Co., Ltd. (NYSE:HMC)’s share price reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as $34.97 and last traded at $34.9350, with a volume of 75,576 shares trading hands. The stock had previously closed at $33.99.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HMC. Zacks Research raised shares of Honda Motor from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. Weiss Ratings raised shares of Honda Motor from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 22nd. Wall Street Zen upgraded shares of Honda Motor from a “hold” rating to a “buy” rating in a report on Saturday, September 19th. Finally, BNP Paribas Exane started coverage on shares of Honda Motor in a report on Friday, September 18th. They set a “neutral” rating and a $34.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Honda Motor has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Honda Motor Stock Up 3.6%

The company has a quick ratio of 1.04, a current ratio of 1.29 and a debt-to-equity ratio of 0.69. The stock has a 50 day simple moving average of $32.72 and a 200 day simple moving average of $28.98. The stock has a market cap of $54.99 billion, a price-to-earnings ratio of -50.27 and a beta of 0.49.

Honda Motor (NYSE:HMC) last released its quarterly earnings data on Wednesday, July 1st. The company reported $2.14 EPS for the quarter. Honda Motor had a negative return on equity of 1.30% and a negative net margin of 0.73%. The firm had revenue of $37.27 billion during the quarter. As a group, analysts expect that Honda Motor Co., Ltd. will post 2.32 earnings per share for the current fiscal year.

Institutional Trading of Honda Motor

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. M Holdings Securities Inc. purchased a new stake in Honda Motor in the 3rd quarter valued at $487,000. Parallel Advisors LLC boosted its holdings in Honda Motor by 10.2% during the 3rd quarter. Parallel Advisors LLC now owns 11,727 shares of the company’s stock worth $371,000 after acquiring an additional 1,083 shares during the last quarter. May Hill Capital LLC purchased a new position in Honda Motor during the 3rd quarter worth $227,000. Kestra Advisory Services LLC grew its stake in shares of Honda Motor by 32.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 17,402 shares of the company’s stock worth $550,000 after acquiring an additional 4,261 shares in the last quarter. Finally, Ascent Group LLC bought a new stake in shares of Honda Motor in the 3rd quarter worth $262,000. Institutional investors own 5.32% of the company’s stock.

About Honda Motor

Honda Motor Co, Ltd. is a Japan-based mobility company that develops, manufactures and sells automobiles, motorcycles and power products. Its automotive lineup includes passenger cars, light trucks, hybrid-electric vehicles and battery-electric vehicles, while its motorcycle business serves customers across commuter, recreational and performance segments. Honda also produces power equipment, including engines, generators, lawn and garden equipment, and other products.

Founded in 1948 by Soichiro Honda and Takeo Fujisawa, the company began as a manufacturer of motorcycle engines and grew into one of the world’s major vehicle producers.