Zacks Investment Research downgraded shares of Tata Motors (NYSE:TTM) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday.

According to Zacks, “Tata Motors is India’s leading automotive manufacturer. “

Several other brokerages also recently commented on TTM. ValuEngine raised shares of Tata Motors from a strong sell rating to a sell rating in a report on Friday, November 2nd. Deutsche Bank downgraded shares of Tata Motors from a buy rating to a hold rating in a report on Thursday, October 11th. Finally, HSBC downgraded shares of Tata Motors from a buy rating to a hold rating in a report on Thursday, October 11th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Tata Motors currently has an average rating of Hold and a consensus target price of $37.00.

Shares of TTM stock opened at $13.11 on Tuesday. The stock has a market cap of $8.95 billion, a P/E ratio of 5.58, a P/E/G ratio of 0.83 and a beta of 2.05. The company has a quick ratio of 0.55, a current ratio of 0.92 and a debt-to-equity ratio of 0.75. Tata Motors has a 52 week low of $11.35 and a 52 week high of $34.40.

Several hedge funds have recently made changes to their positions in TTM. Morgan Stanley raised its stake in Tata Motors by 6.8% in the 2nd quarter. Morgan Stanley now owns 4,327,916 shares of the company’s stock worth $84,611,000 after purchasing an additional 274,870 shares in the last quarter. Renaissance Technologies LLC raised its stake in Tata Motors by 24.5% in 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. BlackRock Inc. raised its stake in Tata Motors by 10.7% in the 3rd quarter. BlackRock Inc. now owns 3,013,445 shares of the company’s stock worth $46,287,000 after purchasing an additional 291,506 shares in the last quarter. First Trust Advisors LP raised its stake in Tata Motors by 41.9% in the 2nd quarter. First Trust Advisors LP now owns 961,780 shares of the company’s stock worth $18,803,000 after purchasing an additional 284,124 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in Tata Motors by 100.8% in 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. 7.14% of the stock is owned by institutional investors and hedge funds.

About Tata Motors

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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