Honda Motor (NYSE:HMC) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Honda Motor (NYSE:HMC) from a hold rating to a buy rating in a report released on Saturday,Wall Street Zen reports.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Honda Motor in a report on Monday, August 31st. BNP Paribas Exane began coverage on shares of Honda Motor in a research report on Friday. They issued a “neutral” rating and a $34.00 price target on the stock. Finally, Zacks Research upgraded shares of Honda Motor from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

Honda Motor Stock Down 0.9%

HMC stock opened at $32.23 on Friday. Honda Motor has a fifty-two week low of $23.25 and a fifty-two week high of $34.16. The business’s 50-day moving average is $30.95 and its two-hundred day moving average is $27.62. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.04 and a current ratio of 1.29. The company has a market cap of $50.30 billion, a price-to-earnings ratio of -46.04 and a beta of 0.44.

Honda Motor (NYSE:HMC) last released its quarterly earnings results on Wednesday, July 1st. The company reported $2.14 earnings per share (EPS) for the quarter. Honda Motor had a negative return on equity of 1.30% and a negative net margin of 0.73%.The business had revenue of $37.27 billion during the quarter. As a group, analysts forecast that Honda Motor will post 2.11 earnings per share for the current year.

Institutional Investors Weigh In On Honda Motor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in Honda Motor by 14.8% during the fourth quarter. Allworth Financial LP now owns 3,034 shares of the company’s stock valued at $89,000 after purchasing an additional 392 shares in the last quarter. Harbour Investments Inc. raised its position in shares of Honda Motor by 5.8% during the 4th quarter. Harbour Investments Inc. now owns 7,265 shares of the company’s stock valued at $214,000 after purchasing an additional 400 shares during the period. Fifth Third Bancorp lifted its stake in shares of Honda Motor by 9.4% during the 2nd quarter. Fifth Third Bancorp now owns 5,091 shares of the company’s stock valued at $138,000 after buying an additional 438 shares in the last quarter. Financial Management Professionals Inc. lifted its stake in shares of Honda Motor by 38.2% during the 2nd quarter. Financial Management Professionals Inc. now owns 1,873 shares of the company’s stock valued at $51,000 after buying an additional 518 shares in the last quarter. Finally, State of Wyoming boosted its holdings in Honda Motor by 17.4% in the 1st quarter. State of Wyoming now owns 3,609 shares of the company’s stock worth $88,000 after buying an additional 536 shares during the period. 5.32% of the stock is owned by hedge funds and other institutional investors.

About Honda Motor

Honda Motor Co, Ltd. is a Japanese mobility and manufacturing company founded in 1948 by Soichiro Honda and Takeo Fujisawa. The company is best known for developing and manufacturing automobiles and motorcycles, and it has built a global presence through research, production and sales operations in Japan and international markets.

Honda’s automotive business includes passenger cars, light trucks, hybrid-electric vehicles and battery-electric vehicles under the Honda and Acura brands. The company also produces motorcycles and related power products, including engines, generators, pumps, lawn and garden equipment, and other products used by consumers and businesses.