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Toyota Motor Corporation (TM) - free report >>
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Toyota Motor Corporation (TM) - free report >>
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Toyota to Close Kentucky Headquarters, Relocate Workers
Toyota Motor Corporation (TM - Free Report) is shifting many workers from its northern Kentucky headquarters. The relocation of workers is part of the nationwide consolidation of the automaker.
Toyota will be moving workers from its Erlanger plant. The automaker is moving the facilities to the Dallas suburb of Plano. The process will continue till 2018 and will be affecting around 648 employees. However, the automaker has offered jobs to the affected workers.
Toyota’s North American engineering and manufacturing headquarters was in the Erlanger plant since 1996.
TOYOTA MOTOR CP Price
TOYOTA MOTOR CP Price | TOYOTA MOTOR CP Quote
Price Performance
Toyota’s share price dropped around 3.3% in the last one year, reflecting the decline in its guidance for earnings, operating income and revenues for fiscal 2017. Settlement of a U.S. truck lawsuit, string of product recalls and declining sales outside Japan have been affecting the share price of Toyota. The Zacks categorized Auto-Manufacturers-Foreign industry suffered a decline of 1.7% over the same time frame.
Zacks Rank & Key Picks
Toyota currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the auto space include The Goodyear Tire & Rubber Company (GT - Free Report) , Modine Manufacturing Company (MOD - Free Report) and GKN plc .
Modine Manufacturing sports a Zacks Rank #1 (Strong Buy). The company has an expected earnings growth of around 11.2% for the current year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Meanwhile, Goodyear Tire and GKN carry a Zacks Rank #2 (Buy). Goodyear Tire has a long-term growth rate of 17.2% while GKN has a long-term growth of 6.2%.
Zacks' Top 10 Stocks for 2017
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