Toyota Motor (NYSE:TM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage currently has a $153.00 target price on the stock. Zacks Investment Research‘s price target indicates a potential upside of 11.52% from the company’s current price.
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 raised Toyota Motor from a “neutral” rating to a “buy” rating in a report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Toyota Motor presently has a consensus rating of “Hold” and a consensus price target of $125.74.
Toyota Motor (NYSE:TM) opened at $137.20 on Friday. 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 stock has a market capitalization of $222,290.00, a P/E ratio of 11.78, a P/E/G ratio of 1.85 and a beta of 0.68. Toyota Motor has a fifty-two week low of $103.62 and a fifty-two week high of $137.29.
Hedge funds have recently bought and sold shares of the company. Patten Group Inc. boosted its holdings in shares of Toyota Motor by 3,974.2% in the third quarter. Patten Group Inc. now owns 38,094 shares of the company’s stock valued at $108,000 after acquiring an additional 37,159 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of Toyota Motor in the third quarter valued at approximately $110,000. FNY Managed Accounts LLC acquired a new stake in shares of Toyota Motor in the third quarter valued at approximately $112,000. Legacy Advisors LLC acquired a new stake in shares of Toyota Motor in the third quarter valued at approximately $115,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Toyota Motor by 36.6% in the second quarter. The Manufacturers Life Insurance Company now owns 1,415 shares of the company’s stock valued at $148,000 after acquiring an additional 379 shares during the period. 0.76% of the stock is owned by institutional investors and hedge funds.
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Toyota Motor Company Profile
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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