Toyota Motor (NYSE:TM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm currently has a $153.00 price target on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.52% from the company’s previous close.
According to Zacks, “Toyota plans to sell 5.5 million of electrified vehicles by 2030 for which it is collaborating with many companies to develop batteries. Additionally by 2025, it has plans to sell vehicles having either a dedicated electrified model or an electrified option. Toyota is also focusing on battery reuse and recycling for which it is promoting the usage of plug-in vehicle charging and hydrogen refueling stations. Recently, it has announced its decision to construct a megawatt-scale carbonate fuel cell power generation plant in order to assist the plant’s operations. Toyota has provided a positive revenue outlook for fiscal 2018. Also, in order to strengthen presence in the North American market, the company has collaborated with Mazda Motor to set up a new vehicle manufacturing plant in the United States.”
Separately, Citigroup upgraded shares of Toyota Motor from a “neutral” rating to a “buy” rating in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $125.74.
Shares of Toyota Motor (TM) opened at $137.20 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.90 and a current ratio of 1.05. The stock has a market cap of $222,290.00, a PE ratio of 11.78, a price-to-earnings-growth ratio of 1.85 and a beta of 0.68. Toyota Motor has a one year low of $103.62 and a one year high of $137.29.
Several hedge funds have recently added to or reduced their stakes in TM. Patten Group Inc. increased its stake in shares of Toyota Motor by 3,974.2% during the third quarter. Patten Group Inc. now owns 38,094 shares of the company’s stock worth $108,000 after buying an additional 37,159 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of Toyota Motor during the third quarter worth approximately $110,000. FNY Managed Accounts LLC purchased a new stake in shares of Toyota Motor during the third quarter worth approximately $112,000. Legacy Advisors LLC purchased a new stake in shares of Toyota Motor during the third quarter worth approximately $115,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Toyota Motor by 36.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,415 shares of the company’s stock worth $148,000 after buying an additional 379 shares during the period. Hedge funds and other institutional investors own 0.76% of the company’s stock.
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About Toyota Motor
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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