Toyota Motor (NYSE:TM) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of Toyota Motor Corporation (NYSE:TM) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $198.67 and traded as high as $200.54. Toyota Motor shares last traded at $199.2790, with a volume of 428,396 shares changing hands.

Analyst Upgrades and Downgrades

TM has been the topic of a number of recent research reports. Weiss Ratings raised shares of Toyota Motor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Zacks Research raised shares of Toyota Motor from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 29th. Finally, Erste Group Bank raised shares of Toyota Motor from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 18th. Four analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $290.00.

Toyota Motor Stock Performance

The firm has a market cap of $259.73 billion, a P/E ratio of 8.79, a P/E/G ratio of 1.22 and a beta of 0.62. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.17. The business’s 50-day simple moving average is $192.22 and its 200 day simple moving average is $198.67.

Toyota Motor (NYSE:TM) last issued its earnings results on Tuesday, June 30th. The company reported $7.42 earnings per share (EPS) for the quarter. The firm had revenue of $83.16 billion for the quarter. Toyota Motor had a return on equity of 11.21% and a net margin of 8.61%. As a group, equities analysts predict that Toyota Motor Corporation will post 21.17 earnings per share for the current year.

Hedge Funds Weigh In On Toyota Motor

Institutional investors have recently added to or reduced their stakes in the company. Lido Advisors LLC raised its holdings in shares of Toyota Motor by 8.8% during the 3rd quarter. Lido Advisors LLC now owns 4,628 shares of the company’s stock worth $848,000 after acquiring an additional 375 shares in the last quarter. Keybank National Association OH boosted its position in shares of Toyota Motor by 23.2% during the 3rd quarter. Keybank National Association OH now owns 10,147 shares of the company’s stock valued at $1,858,000 after acquiring an additional 1,912 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Toyota Motor by 13.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 13,436 shares of the company’s stock valued at $2,463,000 after purchasing an additional 1,549 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of Toyota Motor by 2.9% in the third quarter. Brighton Jones LLC now owns 2,765 shares of the company’s stock valued at $506,000 after purchasing an additional 79 shares in the last quarter. Finally, 180 Wealth Advisors LLC grew its holdings in shares of Toyota Motor by 19.1% in the third quarter. 180 Wealth Advisors LLC now owns 1,534 shares of the company’s stock valued at $281,000 after purchasing an additional 246 shares in the last quarter. Hedge funds and other institutional investors own 1.48% of the company’s stock.

About Toyota Motor

Toyota Motor Corporation is a Japanese automaker headquartered in Toyota City, Aichi Prefecture. Founded in 1937, the company develops, manufactures and sells passenger vehicles, commercial vehicles and related mobility products under the Toyota and Lexus brands. It also produces vehicles through the Hino and Daihatsu businesses.

Toyota’s product portfolio includes cars, trucks, sport utility vehicles, minivans and buses, along with hybrid-electric, battery-electric and hydrogen fuel-cell vehicles.