General Motors (NYSE:GM) (TSE:GMM.U) has been assigned a $55.00 price target by equities research analysts at Bank of America in a research report issued to clients and investors on Tuesday, TipRanks reports. The brokerage currently has a “buy” rating on the auto manufacturer’s stock. Bank of America‘s price objective would indicate a potential upside of 51.20% from the stock’s previous close.
GM has been the subject of a number of other reports. Citigroup lifted their price objective on shares of General Motors from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Credit Suisse Group began coverage on shares of General Motors in a research note on Wednesday, June 26th. They issued an “outperform” rating and a $48.00 price objective for the company. Royal Bank of Canada lifted their price objective on shares of General Motors to $52.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. They noted that the move was a valuation call. Barclays dropped their price objective on shares of General Motors from $51.00 to $48.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Finally, UBS Group lifted their price objective on shares of General Motors from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $47.00.
GM traded down $0.27 during trading on Tuesday, hitting $36.38. 3,647,799 shares of the company traded hands, compared to its average volume of 9,225,016. The company has a market cap of $50.68 billion, a PE ratio of 5.56, a P/E/G ratio of 0.49 and a beta of 1.40. The stock’s 50-day simple moving average is $36.95 and its two-hundred day simple moving average is $37.72. General Motors has a 1 year low of $30.56 and a 1 year high of $41.90. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 1.56.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Thursday, August 1st. The auto manufacturer reported $1.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.21. The company had revenue of $36.06 billion during the quarter, compared to analysts’ expectations of $36.03 billion. General Motors had a net margin of 6.31% and a return on equity of 21.08%. General Motors’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the company posted $1.81 earnings per share. Equities analysts expect that General Motors will post 6.58 EPS for the current year.
In other news, President Mark L. Reuss sold 275,944 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $40.03, for a total value of $11,046,038.32. Following the completion of the sale, the president now owns 479,413 shares in the company, valued at approximately $19,190,902.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Matthew Tsien sold 16,933 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $39.50, for a total transaction of $668,853.50. Following the completion of the sale, the executive vice president now owns 18,533 shares of the company’s stock, valued at approximately $732,053.50. The disclosure for this sale can be found here. Insiders sold a total of 375,944 shares of company stock valued at $14,996,038 in the last 90 days. Company insiders own 0.51% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. GYL Financial Synergies LLC acquired a new stake in General Motors during the 1st quarter worth about $425,000. FMR LLC grew its holdings in General Motors by 83.3% during the 1st quarter. FMR LLC now owns 8,016,745 shares of the auto manufacturer’s stock worth $297,421,000 after acquiring an additional 3,643,659 shares during the period. Amundi Pioneer Asset Management Inc. grew its holdings in General Motors by 21.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,631,510 shares of the auto manufacturer’s stock worth $60,529,000 after acquiring an additional 290,782 shares during the period. Boothe Investment Group Inc. grew its holdings in General Motors by 8.6% during the 2nd quarter. Boothe Investment Group Inc. now owns 14,275 shares of the auto manufacturer’s stock worth $550,000 after acquiring an additional 1,129 shares during the period. Finally, South Texas Money Management Ltd. grew its holdings in General Motors by 1.8% during the 2nd quarter. South Texas Money Management Ltd. now owns 605,280 shares of the auto manufacturer’s stock worth $23,321,000 after acquiring an additional 10,982 shares during the period. Hedge funds and other institutional investors own 76.81% of the company’s stock.
General Motors Company Profile
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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