Zacks Investment Research cut shares of Tata Motors Ltd (NYSE:TTM) from a buy rating to a hold rating in a research report report published on Saturday morning.
According to Zacks, “Tata Motors is India’s leading automotive manufacturer. “
Separately, ValuEngine cut shares of Tata Motors from a buy rating to a hold rating in a report on Saturday, June 3rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of Buy and an average price target of $44.50.
Tata Motors (NYSE:TTM) opened at 34.88 on Friday. The firm’s 50 day moving average is $35.08 and its 200 day moving average is $35.53. Tata Motors has a 52-week low of $31.71 and a 52-week high of $44.79.
In related news, Director Carlos Yong acquired 300,000 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were bought at an average price of $0.30 per share, for a total transaction of $90,000.00.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Integrated Investment Consultants LLC bought a new position in shares of Tata Motors during the first quarter worth $101,000. Daiwa SB Investments Ltd. increased its position in shares of Tata Motors by 31.8% in the first quarter. Daiwa SB Investments Ltd. now owns 2,900 shares of the company’s stock worth $103,000 after buying an additional 700 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Tata Motors by 439.5% in the first quarter. PNC Financial Services Group Inc. now owns 5,406 shares of the company’s stock worth $194,000 after buying an additional 4,404 shares during the period. BB&T Corp bought a new position in shares of Tata Motors during the first quarter worth $209,000. Finally, Stifel Financial Corp bought a new position in shares of Tata Motors during the first quarter worth $209,000. Institutional investors own 13.76% of the company’s stock.
About Tata Motors
Tata Motors Limited is an automobile company. The Company is engaged in manufacture of motor vehicles. The Company is engaged mainly in the business of automobile products consisting of all types of commercial and passenger vehicles, including financing of the vehicles sold by the Company. The Company’s segments include automotive operations and all other operations.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tata Motors Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tata Motors Ltd and related companies with MarketBeat.com's FREE daily email newsletter.