Morgan Stanley Downgrades Tata Motors Ltd (TTM) to Equal Weight

Tata Motors Ltd (NYSE:TTM) was downgraded by investment analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports.

A number of other analysts have also commented on the stock. BidaskClub raised shares of Tata Motors from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research lowered shares of Tata Motors from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. Finally, ValuEngine lowered shares of Tata Motors from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $43.50.

Shares of Tata Motors (TTM) traded down 5.21% during trading on Thursday, reaching $29.86. 913,176 shares of the company’s stock were exchanged. The firm has a market capitalization of $20.28 billion, a P/E ratio of 21.25 and a beta of 2.26. The company has a 50 day moving average of $34.47 and a 200 day moving average of $35.36. Tata Motors has a 52-week low of $29.66 and a 52-week high of $44.79.

Tata Motors (NYSE:TTM) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by $0.21. The business had revenue of $9.30 billion during the quarter. Tata Motors had a return on equity of 33.00% and a net margin of 2.84%. Equities analysts anticipate that Tata Motors will post $1.84 earnings per share for the current fiscal year.

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In other Tata Motors news, Director Carlos Yong acquired 300,000 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were acquired at an average price of $0.30 per share, with a total value of $90,000.00.

A number of hedge funds have recently bought and sold shares of the company. Daiwa SB Investments Ltd. raised its stake in Tata Motors by 31.8% in the first quarter. Daiwa SB Investments Ltd. now owns 2,900 shares of the company’s stock valued at $103,000 after buying an additional 700 shares during the period. PNC Financial Services Group Inc. raised its stake in Tata Motors by 439.5% in the first quarter. PNC Financial Services Group Inc. now owns 5,406 shares of the company’s stock valued at $194,000 after buying an additional 4,404 shares during the period. Stifel Financial Corp purchased a new stake in Tata Motors during the first quarter valued at about $209,000. BB&T Corp purchased a new stake in Tata Motors during the first quarter valued at about $209,000. Finally, Greenleaf Trust purchased a new stake in Tata Motors during the first quarter valued at about $211,000. 13.27% of the stock is currently owned by hedge funds and other institutional investors.

Tata Motors Company Profile

Tata Motors Limited is an automobile company. The Company is engaged in manufacture of motor vehicles. The Company is engaged mainly in the business of automobile products consisting of all types of commercial and passenger vehicles, including financing of the vehicles sold by the Company. The Company’s segments include automotive operations and all other operations.

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