Zacks Investment Research cut shares of Tata Motors Ltd (NYSE:TTM) from a buy rating to a hold rating in a research report released on Saturday.
According to Zacks, “Tata Motors is India’s leading automotive manufacturer. “
Separately, ValuEngine lowered Tata Motors from a buy rating to a hold rating in a research note on Saturday, June 3rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $44.50.
Shares of Tata Motors (TTM) opened at 34.88 on Friday. Tata Motors has a 12-month low of $31.71 and a 12-month high of $44.79. The company has a 50 day moving average price of $35.08 and a 200 day moving average price of $35.53.
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In other news, Director Carlos Yong bought 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were purchased at an average price of $0.30 per share, with a total value of $90,000.00.
Institutional investors have recently bought and sold shares of the company. Cambiar Investors LLC purchased a new position in Tata Motors during the first quarter valued at about $182,907,000. Wellington Management Group LLP raised its position in Tata Motors by 189.9% in the first quarter. Wellington Management Group LLP now owns 7,271,482 shares of the company’s stock valued at $259,228,000 after buying an additional 4,763,259 shares during the last quarter. Morgan Stanley raised its position in Tata Motors by 65.1% in the first quarter. Morgan Stanley now owns 2,454,241 shares of the company’s stock valued at $87,494,000 after buying an additional 968,093 shares during the last quarter. Bank of America Corp DE raised its position in Tata Motors by 169.4% in the first quarter. Bank of America Corp DE now owns 1,461,331 shares of the company’s stock valued at $52,096,000 after buying an additional 918,944 shares during the last quarter. Finally, Coronation Fund Managers Ltd. raised its position in Tata Motors by 15.9% in the first quarter. Coronation Fund Managers Ltd. now owns 5,073,151 shares of the company’s stock valued at $180,858,000 after buying an additional 695,674 shares during the last quarter. 13.76% of the stock is currently owned by hedge funds and other institutional investors.
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.
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