Tata Motors Limited (NYSE:TTM) gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $12.79, but opened at $13.10. Tata Motors shares last traded at $12.82, with a volume of 1331164 shares traded.
The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.41 by $0.07. Tata Motors had a positive return on equity of 3.13% and a negative net margin of 8.55%. The firm had revenue of $12.38 billion during the quarter, compared to analysts’ expectations of $12.20 billion.
A number of research firms have commented on TTM. Zacks Investment Research upgraded Tata Motors from a “sell” rating to a “hold” rating in a research note on Wednesday, March 13th. Deutsche Bank reiterated a “hold” rating on shares of Tata Motors in a research note on Tuesday, March 26th. Nomura reiterated a “neutral” rating on shares of Tata Motors in a research note on Friday, February 8th. Finally, Bank of America lowered Tata Motors from a “buy” rating to a “neutral” rating in a research note on Friday, February 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $17.00.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TTM. Balentine LLC boosted its holdings in shares of Tata Motors by 59.9% during the 1st quarter. Balentine LLC now owns 2,144 shares of the company’s stock valued at $27,000 after acquiring an additional 803 shares in the last quarter. Lindbrook Capital LLC acquired a new position in Tata Motors during the 4th quarter worth about $32,000. Cornerstone Advisors Inc. lifted its holdings in Tata Motors by 137.5% during the 1st quarter. Cornerstone Advisors Inc. now owns 2,520 shares of the company’s stock worth $32,000 after buying an additional 1,459 shares during the period. Westside Investment Management Inc. lifted its holdings in Tata Motors by 1,450.0% during the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $38,000 after buying an additional 2,900 shares during the period. Finally, Quantamental Technologies LLC acquired a new position in Tata Motors during the 1st quarter worth about $46,000. 7.51% of the stock is currently owned by institutional investors.
The firm has a market capitalization of $8.42 billion, a P/E ratio of 5.46, a PEG ratio of -2.70 and a beta of 1.61. The company has a quick ratio of 0.55, a current ratio of 0.92 and a debt-to-equity ratio of 0.75.
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Tata Motors Company Profile (NYSE:TTM)
Tata Motors Limited designs, manufactures, and sells a range of automotive vehicles. It operates through Automotive Operations and All Other Operations segments. The company offers cars, sports vehicles, trucks, buses, and defence vehicles, as well as related spare parts and accessories. It also manufactures engines for industrial and marine applications; aggregates, such as axles and transmissions for commercial vehicles; and factory automation equipment.
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