Tata Motors (TTM) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Tata Motors (NYSE:TTM) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

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

Several other equities analysts have also recently commented on the stock. Jefferies Group began coverage on shares of Tata Motors in a research note on Monday, January 8th. They set a buy rating for the company. ValuEngine upgraded shares of Tata Motors from a hold rating to a buy rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Tata Motors presently has an average rating of Hold and a consensus target price of $33.00.

Tata Motors (NYSE:TTM) traded up $0.03 during trading hours on Friday, reaching $34.32. 920,403 shares of the company traded hands, compared to its average volume of 1,040,000. The firm has a market cap of $21,780.00, a PE ratio of 7.53, a P/E/G ratio of 0.22 and a beta of 2.22. Tata Motors has a 1 year low of $28.97 and a 1 year high of $40.34. The company has a current ratio of 0.98, a quick ratio of 0.63 and a debt-to-equity ratio of 0.79.

Several hedge funds have recently made changes to their positions in the company. First Allied Advisory Services Inc. raised its stake in shares of Tata Motors by 0.3% in the 2nd quarter. First Allied Advisory Services Inc. now owns 14,073 shares of the company’s stock valued at $461,000 after buying an additional 47 shares in the last quarter. Nomura Holdings Inc. raised its stake in shares of Tata Motors by 0.5% in the 2nd quarter. Nomura Holdings Inc. now owns 63,129 shares of the company’s stock valued at $2,084,000 after buying an additional 314 shares in the last quarter. MML Investors Services LLC raised its stake in shares of Tata Motors by 7.3% in the 2nd quarter. MML Investors Services LLC now owns 6,460 shares of the company’s stock valued at $213,000 after buying an additional 441 shares in the last quarter. Advisor Group Inc. raised its stake in shares of Tata Motors by 8.1% in the 2nd quarter. Advisor Group Inc. now owns 7,254 shares of the company’s stock valued at $214,000 after buying an additional 542 shares in the last quarter. Finally, Commonwealth Bank of Australia raised its stake in shares of Tata Motors by 8.5% in the 2nd quarter. Commonwealth Bank of Australia now owns 8,050 shares of the company’s stock valued at $265,000 after buying an additional 633 shares in the last quarter. Institutional investors own 10.90% of the company’s stock.

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Tata Motors Company Profile

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.

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