Tata Motors (NYSE:TTM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, Zacks.com reports. The firm currently has a $17.00 price objective on the stock. Zacks Investment Research ‘s target price points to a potential upside of 6.65% from the company’s current price.

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

TTM has been the topic of several other research reports. Bank of America downgraded shares of Tata Motors from a “buy” rating to a “neutral” rating in a research note on Friday, February 8th. Deutsche Bank reissued a “hold” rating on shares of Tata Motors in a research note on Tuesday, March 26th. ValuEngine downgraded shares of Tata Motors from a “buy” rating to a “hold” rating in a research note on Thursday, January 10th. Finally, Nomura reissued a “neutral” rating on shares of Tata Motors in a research note on Friday, February 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. Tata Motors has a consensus rating of “Hold” and a consensus price target of $17.00.

Shares of TTM opened at $15.94 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.55 and a debt-to-equity ratio of 0.75. The company has a market cap of $10.59 billion, a P/E ratio of 6.78, a PEG ratio of -3.21 and a beta of 1.51. Tata Motors has a 1 year low of $10.29 and a 1 year high of $27.17.

Tata Motors (NYSE:TTM) last announced its quarterly earnings data on Thursday, February 7th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.31). The firm had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Tata Motors had a negative net margin of 8.55% and a positive return on equity of 3.13%. On average, equities analysts predict that Tata Motors will post 0.98 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lindbrook Capital LLC purchased a new position in Tata Motors during the fourth quarter worth 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 worth $38,000 after purchasing an additional 2,900 shares during the period. 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 worth $117,000 after purchasing an additional 1,901 shares during the period. Baker Avenue Asset Management LP purchased a new position in Tata Motors during the fourth quarter worth approximately $123,000. Finally, LPL Financial LLC purchased a new position in Tata Motors during the third quarter worth approximately …read more

Source:: Daily times

      

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Zacks Investment Research Upgrades Tata Motors (TTM) to “Buy”

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