Honda Motor (NYSE:HMC) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of Honda Motor (NYSE:HMC) from a buy rating to a hold rating in a report released on Saturday,Wall Street Zen reports.

Other equities analysts have also recently issued research reports about the company. BNP Paribas Exane began coverage on Honda Motor in a report on Friday, September 18th. They set a “neutral” rating and a $34.00 price objective for the company. Weiss Ratings upgraded Honda Motor from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 22nd. Finally, Zacks Research upgraded Honda Motor from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Two 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 presently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Honda Motor Trading Up 2.4%

NYSE HMC traded up $0.80 during trading on Friday, hitting $34.33. The stock had a trading volume of 656,983 shares, compared to its average volume of 888,498. Honda Motor has a one year low of $23.25 and a one year high of $36.88. The stock has a 50 day simple moving average of $33.19 and a 200 day simple moving average of $29.15. The stock has a market capitalization of $53.58 billion, a price-to-earnings ratio of -35.03 and a beta of 0.49. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.04 and a current ratio of 1.32.

Honda Motor (NYSE:HMC) last released its earnings results on Tuesday, November 10th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.63). Honda Motor had a negative net margin of 0.97% and a negative return on equity of 1.78%. The business had revenue of $39.13 billion for the quarter, compared to the consensus estimate of $36.68 billion. Sell-side analysts predict that Honda Motor will post 2.42 earnings per share for the current year.

Hedge Funds Weigh In On Honda Motor

Hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its stake in shares of Honda Motor by 3.6% in the first quarter. Bank of America Corp DE now owns 2,834,932 shares of the company’s stock worth $68,917,000 after acquiring an additional 99,301 shares during the period. First Trust Advisors LP raised its holdings in Honda Motor by 16.5% in the 1st quarter. First Trust Advisors LP now owns 1,395,747 shares of the company’s stock worth $33,931,000 after purchasing an additional 197,431 shares during the period. XY Capital Ltd purchased a new stake in shares of Honda Motor in the second quarter valued at approximately $7,032,000. State Street Corp increased its position in shares of Honda Motor by 40.9% in the second quarter. State Street Corp now owns 172,691 shares of the company’s stock valued at $4,685,000 after buying an additional 50,102 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Honda Motor by 35.2% during the 2nd quarter. BlackRock Inc. now owns 2,655,980 shares of the company’s stock worth $72,004,000 after buying an additional 691,165 shares during the period. 5.32% of the stock is owned by institutional investors and hedge funds.

About Honda Motor

Honda Motor Co., Ltd. is a Japan-based manufacturer of automobiles, motorcycles and other mobility products. Its vehicle lineup includes passenger cars, SUVs and electrified models, while its motorcycle business serves consumers and commercial users in markets around the world. The company also makes power equipment, marine engines and other products, and provides financial services that support vehicle and equipment sales. Honda’s aviation subsidiary, Honda Aircraft Company, develops and manufactures the HondaJet business aircraft.