Tata Motors (TTM) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Tata Motors (NYSE:TTM) from a hold rating to a buy rating in a report published on Saturday morning, Zacks.com reports. They currently have $17.00 price objective on the stock.

According to Zacks, “Tata Motors is India’s leading automotive manufacturer. “

Several other research analysts have also recently commented on TTM. ValuEngine cut Tata Motors from a buy rating to a hold rating in a research note on Thursday, January 10th. Deutsche Bank reiterated a hold rating on shares of Tata Motors in a research note on Tuesday, March 26th. Nomura reiterated a neutral rating on shares of Tata Motors in a research note on Friday, February 8th. Finally, Bank of America cut Tata Motors from a buy rating to a neutral rating in a research note on Friday, February 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $17.00.

NYSE:TTM opened at $16.41 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.55 and a current ratio of 0.92. Tata Motors has a one year low of $10.29 and a one year high of $26.25. The stock has a market capitalization of $11.24 billion, a P/E ratio of 6.98, a price-to-earnings-growth ratio of -3.21 and a beta of 1.51.

Tata Motors (NYSE:TTM) last released its quarterly earnings results on Thursday, February 7th. The company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.31). Tata Motors had a positive return on equity of 3.13% and a negative net margin of 8.55%. The business had revenue of $10.91 billion during the quarter, compared to analyst estimates of $11.03 billion. As a group, equities research analysts predict that Tata Motors will post 0.98 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lindbrook Capital LLC acquired a new stake in Tata Motors during the fourth quarter valued at approximately $32,000. Westside Investment Management Inc. raised its stake in Tata Motors by 1,450.0% during the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock valued at $38,000 after buying an additional 2,900 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Tata Motors by 24.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,664 shares of the company’s stock valued at $117,000 after buying an additional 1,901 shares in the last quarter. Baker Avenue Asset Management LP acquired a new stake in Tata Motors during the fourth quarter valued at approximately $123,000. Finally, LPL Financial LLC acquired a new stake in Tata Motors during the third quarter valued at approximately $166,000. Hedge funds and other institutional investors own 7.62% of the company’s stock.

Tata Motors Company Profile

Tata Motors Limited designs, manufactures, and sells a range of automotive vehicles. It operates through Automotive Operations and All Other Operations segments. The company offers cars, sports vehicles, trucks, buses, and defence vehicles, as well as related spare parts and accessories. It also manufactures engines for industrial and marine applications; aggregates, such as axles and transmissions for commercial vehicles; and factory automation equipment.

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