Zacks Investment Research lowered shares of Tata Motors (NYSE:TTM) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday morning.
According to Zacks, “Tata Motors is India’s leading automotive manufacturer. “
TTM has been the subject of a number of other reports. ValuEngine upgraded shares of Tata Motors from a strong sell rating to a sell rating in a research report on Friday, November 2nd. HSBC cut shares of Tata Motors from a buy rating to a hold rating in a research report on Thursday, October 11th. Finally, Deutsche Bank cut shares of Tata Motors from a buy rating to a hold rating in a research report on Thursday, October 11th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $37.00.
A number of hedge funds have recently added to or reduced their stakes in TTM. Renaissance Technologies LLC increased its position in Tata Motors by 24.5% during the 2nd quarter. Renaissance Technologies LLC now owns 4,148,700 shares of the company’s stock worth $81,107,000 after purchasing an additional 817,000 shares in the last quarter. Bank of Montreal Can acquired a new position in Tata Motors during the 2nd quarter worth approximately $9,341,000. SG Americas Securities LLC increased its position in Tata Motors by 354.5% during the 2nd quarter. SG Americas Securities LLC now owns 597,216 shares of the company’s stock worth $11,676,000 after purchasing an additional 465,822 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Tata Motors by 100.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 771,855 shares of the company’s stock worth $15,090,000 after purchasing an additional 387,499 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Tata Motors during the 2nd quarter worth approximately $7,101,000. Institutional investors and hedge funds own 7.14% of the company’s stock.
Tata Motors Company Profile
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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