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 research note issued to investors on Friday morning. The brokerage currently has $153.00 target price on the stock.

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 Toyota Motor from a neutral rating to a buy rating in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Toyota Motor currently has a consensus rating of Hold and a consensus price target of $125.74.

Toyota Motor (TM) traded up $0.29 during trading hours on Friday, reaching $137.20. The company’s stock had a trading volume of 101,500 shares, compared to its average volume of 165,956. Toyota Motor has a 1 year low of $103.62 and a 1 year high of $137.29. The company has a quick ratio of 0.90, a current ratio of 1.05 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $222,290.00, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 1.85 and a beta of 0.68.

Toyota Motor (NYSE:TM) last released its earnings results on Tuesday, November 7th. The company reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.14. Toyota Motor had a return on equity of 10.50% and a net margin of 6.82%. sell-side analysts expect that Toyota Motor will post 11.97 EPS for the current year.

Several institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in shares of Toyota Motor by 12.9% in the third quarter. Dimensional Fund Advisors LP now owns 939,123 shares of the company’s stock worth $111,915,000 after acquiring an additional 107,326 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Toyota Motor by 15.3% in the third quarter. Parametric Portfolio Associates LLC now owns 687,916 shares of the company’s stock worth $81,979,000 after acquiring an additional 91,304 shares in the last quarter. Aperio Group LLC increased its holdings in shares of Toyota Motor by 12.2% in the third quarter. Aperio Group LLC now owns 418,917 shares of the company’s stock worth $49,922,000 after acquiring an additional 45,693 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Toyota Motor by 1.9% in the third quarter. Sei Investments Co. now owns 201,566 shares of the company’s stock worth $24,020,000 after acquiring an additional 3,730 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Toyota Motor in the third quarter worth about $23,842,000. 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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