Zacks Investment Research Upgrades Toyota Motor (TM) to “Buy”

Zacks Investment Research upgraded shares of Toyota Motor (NYSE:TM) from a hold rating to a buy rating in a report issued on Monday morning. Zacks Investment Research currently has $134.00 target price on the stock.

According to Zacks, “Toyota has plans to start testing its self-driving vehicles by 2020. It is also collaborating with other companies to develop autonomous car technology. In October 2018, it collaborated with SoftBank Corp. to develop e-Palette concept-based multi-purpose mobility service. With a target to cut costs by 20%, Toyota plans to shift production to new cost-saving platforms by 2020. The company is also working on new fuel cell vehicles (FCVs), a gas-electric hybrid and expects to sell 30,000 FCVs annually by 2020. Several initiatives have been undertaken by Toyota to popularize FCVs. Also, over the past three months shares of the company have underperformed the industry it belongs to. However, its frequent vehicle recalls in huge numbers led to additional expenses and lowered vehicle resale value, creating headwinds for Toyota.”

TM has been the subject of several other reports. Bank of America upgraded Toyota Motor from a neutral rating to a buy rating in a research report on Monday, October 22nd. ValuEngine upgraded Toyota Motor from a sell rating to a hold rating in a report on Tuesday, December 11th. Jefferies Financial Group upgraded Toyota Motor from a hold rating to a buy rating in a report on Thursday, December 6th. Finally, JPMorgan Chase & Co. upgraded Toyota Motor from a neutral rating to an overweight rating in a report on Monday, November 19th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $132.00.

Shares of Toyota Motor stock opened at $124.49 on Monday. The company has a market capitalization of $180.59 billion, a P/E ratio of 8.28, a price-to-earnings-growth ratio of 1.70 and a beta of 0.71. Toyota Motor has a fifty-two week low of $111.12 and a fifty-two week high of $140.99. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.55.

Toyota Motor (NYSE:TM) last issued its quarterly earnings data on Tuesday, November 6th. The company reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.17 by $0.42. The company had revenue of $65.59 billion during the quarter, compared to analyst estimates of $66.83 billion. Toyota Motor had a return on equity of 13.51% and a net margin of 8.89%. Equities research analysts predict that Toyota Motor will post 14.58 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the business. Northern Trust Corp raised its stake in Toyota Motor by 4.9% in the second quarter. Northern Trust Corp now owns 1,444,615 shares of the company’s stock valued at $186,081,000 after buying an additional 67,349 shares in the last quarter. Renaissance Technologies LLC raised its stake in Toyota Motor by 31.1% in the third quarter. Renaissance Technologies LLC now owns 541,300 shares of the company’s stock valued at $67,311,000 after buying an additional 128,500 shares in the last quarter. Morgan Stanley raised its stake in Toyota Motor by 5.3% in the second quarter. Morgan Stanley now owns 428,104 shares of the company’s stock valued at $55,144,000 after buying an additional 21,662 shares in the last quarter. First Trust Advisors LP increased its position in shares of Toyota Motor by 4.2% during the third quarter. First Trust Advisors LP now owns 190,951 shares of the company’s stock worth $23,745,000 after purchasing an additional 7,732 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its position in shares of Toyota Motor by 9.4% during the third quarter. Crossmark Global Holdings Inc. now owns 175,662 shares of the company’s stock worth $21,844,000 after purchasing an additional 15,158 shares in the last quarter. Institutional investors own 0.69% 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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