Tata Motors Limited (TTM) Downgraded to Sell at Zacks Investment Research
According to Zacks, “Tata Motors is India’s leading automotive manufacturer. “
Separately, Deutsche Bank AG upgraded shares of Tata Motors Limited from a hold rating to a buy rating in a research report on Friday, January 6th.
Shares of Tata Motors Limited (NYSE:TTM) traded down 2.02% during mid-day trading on Friday, hitting $33.50. The stock had a trading volume of 887,240 shares. The company has a market cap of $22.75 billion, a PE ratio of 13.27 and a beta of 2.53. Tata Motors Limited has a one year low of $27.95 and a one year high of $44.79. The firm’s 50 day moving average price is $35.49 and its 200-day moving average price is $36.57.
Institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC boosted its position in Tata Motors Limited by 309.4% in the third quarter. Lazard Asset Management LLC now owns 1,987,795 shares of the company’s stock worth $79,471,000 after buying an additional 1,502,255 shares in the last quarter. Indus Capital Partners LLC boosted its position in Tata Motors Limited by 289.6% in the fourth quarter. Indus Capital Partners LLC now owns 1,774,137 shares of the company’s stock worth $61,013,000 after buying an additional 1,318,749 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Tata Motors Limited during the fourth quarter worth about $38,891,000. LMR Partners LLP bought a new position in Tata Motors Limited during the third quarter worth about $31,188,000. Finally, FIL Ltd boosted its position in Tata Motors Limited by 16.9% in the fourth quarter. FIL Ltd now owns 5,040,315 shares of the company’s stock worth $173,336,000 after buying an additional 729,820 shares in the last quarter. Institutional investors own 13.52% of the company’s stock.
About Tata Motors Limited
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 & Stock Ratings for Tata Motors Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tata Motors Limited and related stocks with our FREE daily email newsletter.