Toyota Motor (NYSE:TM) Rating Increased to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Toyota Motor (NYSE:TM) from a sell rating to a hold rating in a report published on Wednesday morning, Zacks.com reports. The brokerage currently has $154.00 price target on the stock.

According to Zacks, “In fourth-quarter fiscal 2019, Toyota’s earnings missed the Zacks Consensus Estimate while revenues surpassed the same. The company’s increasing expenses due to labor and raw material costs, and currency fluctuation hampered financials, partly offset by improved product mix in North America, Europe and Asia. Also, increased profitability in financial services benefited its margin. For medium to long term, developing self-driving, electric and fuel-cell vehicles will strengthen Toyota’s product competitiveness. Beside developing on its own, it is also collaborating to develop products. Moreover, the company is shifting vehicle production to new cost-saving platforms to cut costs by 20%. However, declining vehicle demand in North America and frequent vehicle recalls are concerns for Toyota.”

Separately, ValuEngine upgraded Toyota Motor from a sell rating to a hold rating in a report on Thursday, March 21st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $154.00.

Shares of Toyota Motor stock opened at $125.68 on Wednesday. Toyota Motor has a fifty-two week low of $111.12 and a fifty-two week high of $136.55. The firm has a market cap of $183.63 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 0.79 and a beta of 0.70. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.89 and a current ratio of 1.04.

Toyota Motor (NYSE:TM) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $2.89 earnings per share for the quarter, missing analysts’ consensus estimates of $3.91 by ($1.02). Toyota Motor had a return on equity of 9.49% and a net margin of 6.25%. The business had revenue of $70.38 billion for the quarter, compared to analysts’ expectations of $69.88 billion. Analysts expect that Toyota Motor will post 15.45 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in TM. Renaissance Technologies LLC increased its holdings in Toyota Motor by 11.4% in the 1st quarter. Renaissance Technologies LLC now owns 859,210 shares of the company’s stock valued at $101,404,000 after purchasing an additional 88,200 shares in the last quarter. Pennsylvania Trust Co purchased a new position in Toyota Motor in the 1st quarter valued at about $3,056,000. Two Sigma Investments LP boosted its position in Toyota Motor by 683.8% in the 4th quarter. Two Sigma Investments LP now owns 55,901 shares of the company’s stock valued at $6,489,000 after buying an additional 48,769 shares during the last quarter. LSV Asset Management boosted its position in Toyota Motor by 25.0% in the 1st quarter. LSV Asset Management now owns 206,020 shares of the company’s stock valued at $24,314,000 after buying an additional 41,240 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Toyota Motor by 17.8% in the 1st quarter. First Trust Advisors LP now owns 242,765 shares of the company’s stock valued at $28,651,000 after buying an additional 36,730 shares during the last quarter. Institutional investors and hedge funds own 0.73% of the company’s stock.

Toyota Motor Company Profile

Toyota Motor Corporation designs, manufactures, assembles, and sells passenger vehicles, minivans and commercial vehicles, and related parts and accessories. It operates through Automotive, Financial Services, and All Other segments. The company offers hybrid cars under the Prius, Alphard, Vellfire, Sienta, RX-HV, Auris, Prius PHV, C-HR, LC, Camry, JPN TAXI, Avalon, Corolla HB, Crown, and Century names; fuel cell vehicles under the MIRAI and SORA names; and conventional engine vehicles, including subcompact and compact cars under the Corolla, Yaris, Vitz, Aygo, Prius C, Aqua, Passo, Roomy, Tank, Etios, Vios, AGYA, Rush, and Yaris iA names.

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