Toyota Motor (NYSE:TM) Shares Gap Down – What’s Next?

Toyota Motor Corporation (NYSE:TM)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $215.25, but opened at $206.43. Toyota Motor shares last traded at $206.7310, with a volume of 104,387 shares.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Toyota Motor in a report on Wednesday, January 21st. Erste Group Bank cut shares of Toyota Motor from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. DZ Bank raised shares of Toyota Motor from a “strong sell” rating to a “strong-buy” rating in a report on Monday, March 2nd. Zacks Research raised shares of Toyota Motor from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Finally, BNP Paribas Exane initiated coverage on shares of Toyota Motor in a report on Thursday, February 12th. They issued an “outperform” rating and a $290.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $290.00.

Toyota Motor Price Performance

The company has a quick ratio of 1.12, a current ratio of 1.26 and a debt-to-equity ratio of 0.63. The company’s 50 day moving average is $221.74 and its 200 day moving average is $214.43. The firm has a market capitalization of $266.83 billion, a price-to-earnings ratio of 10.80 and a beta of 0.66.

Toyota Motor (NYSE:TM) last announced its earnings results on Saturday, February 7th. The company reported $6.26 EPS for the quarter, topping the consensus estimate of $4.35 by $1.91. Toyota Motor had a net margin of 7.32% and a return on equity of 9.67%. The company had revenue of $76.37 billion for the quarter, compared to analysts’ expectations of $82 billion. On average, equities research analysts anticipate that Toyota Motor Corporation will post 18.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TM. Brighton Jones LLC increased its holdings in shares of Toyota Motor by 21.8% during the fourth quarter. Brighton Jones LLC now owns 2,658 shares of the company’s stock worth $517,000 after purchasing an additional 476 shares during the period. AQR Capital Management LLC increased its holdings in shares of Toyota Motor by 57.9% during the first quarter. AQR Capital Management LLC now owns 11,512 shares of the company’s stock worth $2,032,000 after purchasing an additional 4,223 shares during the period. Baird Financial Group Inc. increased its stake in Toyota Motor by 123.4% in the second quarter. Baird Financial Group Inc. now owns 2,844 shares of the company’s stock valued at $490,000 after acquiring an additional 1,571 shares during the last quarter. Marshall Wace LLP bought a new position in Toyota Motor in the second quarter valued at approximately $864,000. Finally, Brown Advisory Inc. increased its stake in Toyota Motor by 17.7% in the second quarter. Brown Advisory Inc. now owns 1,527 shares of the company’s stock valued at $263,000 after acquiring an additional 230 shares during the last quarter. 1.48% of the stock is owned by institutional investors.

Toyota Motor Company Profile

Toyota Motor Corporation is a global automotive manufacturer headquartered in Toyota City, Aichi, Japan. Founded in 1937 by Kiichiro Toyoda as an offshoot of Toyoda Automatic Loom Works, the company builds and sells a broad range of vehicles and related products under the Toyota and Lexus brands. Toyota’s operations encompass vehicle design, manufacturing, parts supply, and distribution through a worldwide dealer network, as well as complementary businesses such as vehicle financing and mobility services.

The company’s product lineup includes passenger cars, SUVs, pickup trucks, light commercial vehicles and heavy-duty commercial vehicles, along with engines and vehicle components.