UBS Group Raises General Motors (NYSE:GM) Price Target to $58.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price target boosted by equities researchers at UBS Group from $56.00 to $58.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the auto manufacturer’s stock. UBS Group’s price objective would suggest a potential upside of 29.70% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company increased their target price on shares of General Motors from $28.00 to $30.00 and gave the stock an “underweight” rating in a research report on Wednesday. Wolfe Research raised General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research report on Thursday, January 4th. Piper Sandler raised their price target on General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday. Tigress Financial raised their price target on General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 15th. Finally, Barclays raised their price target on General Motors from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, General Motors presently has an average rating of “Moderate Buy” and a consensus target price of $54.29.

General Motors Stock Down 0.8 %

Shares of NYSE:GM traded down $0.38 during midday trading on Wednesday, hitting $44.72. 7,646,824 shares of the stock were exchanged, compared to its average volume of 17,457,936. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 1.08. General Motors has a 52-week low of $26.30 and a 52-week high of $46.04. The business’s fifty day simple moving average is $41.86 and its two-hundred day simple moving average is $36.06. The company has a market capitalization of $51.63 billion, a PE ratio of 6.13, a P/E/G ratio of 0.51 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping the consensus estimate of $2.02 by $0.60. The firm had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.21 earnings per share. As a group, research analysts predict that General Motors will post 9.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the transaction, the executive vice president now owns 87,567 shares in the company, valued at $3,348,562.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total value of $1,227,541.72. Following the completion of the transaction, the executive vice president now owns 71,506 shares in the company, valued at $3,236,361.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the transaction, the executive vice president now owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The disclosure for this sale can be found here. Insiders sold a total of 86,248 shares of company stock worth $3,614,078 over the last quarter. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Highlander Capital Management LLC bought a new position in General Motors in the 4th quarter worth approximately $27,000. SouthState Corp raised its position in General Motors by 173.8% in the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after purchasing an additional 485 shares during the last quarter. Riverview Trust Co bought a new position in General Motors in the 1st quarter worth approximately $38,000. Cape Investment Advisory Inc. grew its holdings in General Motors by 75.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 359 shares during the period. Finally, Sachetta LLC acquired a new stake in General Motors during the 4th quarter worth $33,000. Institutional investors own 92.67% of the company’s stock.

About General Motors

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.