Tata Motors Ltd. (TTM) Downgraded to Market Perform at Sanford C. Bernstein
Tata Motors Ltd. (NYSE:TTM) was downgraded by research analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a research note issued to investors on Friday.
A number of other research firms also recently weighed in on TTM. Zacks Investment Research raised shares of Tata Motors from a “hold” rating to a “strong-buy” rating and set a $47.00 price target for the company in a research report on Thursday, September 1st. Credit Suisse Group AG downgraded shares of Tata Motors from an “outperform” rating to a “neutral” rating in a research report on Monday, June 27th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $37.99.
Tata Motors (NYSE:TTM) opened at 43.76 on Friday. Tata Motors has a 1-year low of $20.00 and a 1-year high of $44.79. The firm has a market capitalization of $29.72 billion, a PE ratio of 24.86 and a beta of 2.73. The stock’s 50 day moving average is $38.90 and its 200-day moving average is $32.54.
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Other institutional investors have recently made changes to their positions in the company. Fisher Asset Management LLC boosted its position in shares of Tata Motors by 4.0% in the second quarter. Fisher Asset Management LLC now owns 9,138,984 shares of the company’s stock valued at $331,471,000 after buying an additional 350,323 shares during the period. Bessemer Group Inc. boosted its position in shares of Tata Motors by 50.6% in the first quarter. Bessemer Group Inc. now owns 2,605,927 shares of the company’s stock valued at $75,702,000 after buying an additional 875,907 shares during the period. American Century Companies Inc. purchased a new position in shares of Tata Motors during the second quarter valued at about $84,448,000. Acadian Asset Management LLC boosted its position in shares of Tata Motors by 47.2% in the second quarter. Acadian Asset Management LLC now owns 1,423,116 shares of the company’s stock valued at $49,342,000 after buying an additional 456,648 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Tata Motors by 180.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,241,052 shares of the company’s stock valued at $36,053,000 after buying an additional 798,400 shares during the period. Hedge funds and other institutional investors own 12.28% of the company’s stock.
About Tata Motors
Tata Motors Limited is an automobile company. The Company is engaged in the business of automobile products consisting of all types of commercial and passenger vehicles, including financing of the vehicles sold by the Company. Its operating segments include automotive operations and all other operations.
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