Toyota Industries (OTCMKTS:TYIDY) Shares Gap Down – Here’s Why

Toyota Industries Co. (OTCMKTS:TYIDY)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $127.00, but opened at $120.15. Toyota Industries shares last traded at $128.00, with a volume of 346 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Toyota Industries to a “hold” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Toyota Industries Price Performance

The company has a market cap of $38.45 billion and a price-to-earnings ratio of 0.37. The business has a 50 day simple moving average of $126.63 and a 200 day simple moving average of $124.14.

About Toyota Industries

Toyota Industries Corporation, headquartered in Kariya, Aichi Prefecture, Japan, traces its origins to Sakichi Toyoda’s Toyoda Automatic Loom Works founded in 1926. As the founding member of the Toyota Group, it has grown from a textile machinery manufacturer into a diversified industrial and automotive supplier. Throughout its history, Toyota Industries has emphasized innovation, quality management and continuous improvement to expand its global footprint.

The company’s Material Handling Equipment segment, marketed under the Toyota Material Handling brand, is a leading producer of forklift trucks, warehouse vehicles and automated guided vehicles.