General Motors (NYSE:GM) Given New $53.00 Price Target at JPMorgan Chase & Co.

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective cut by investment analysts at JPMorgan Chase & Co. from $64.00 to $53.00 in a report issued on Thursday,Briefing.com Automated Import reports. The brokerage presently has an “overweight” rating on the auto manufacturer’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 4.06% from the company’s previous close.

GM has been the subject of a number of other reports. TD Cowen began coverage on shares of General Motors in a research note on Friday, March 7th. They issued a “buy” rating and a $105.00 price objective for the company. Hsbc Global Res downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and increased their price objective for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. UBS Group restated a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Finally, HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a report on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $62.11.

General Motors Stock Down 3.2 %

Shares of NYSE GM opened at $50.93 on Thursday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The stock has a market capitalization of $50.68 billion, a PE ratio of 8.28, a P/E/G ratio of 0.67 and a beta of 1.42. General Motors has a one year low of $38.96 and a one year high of $61.24. The business’s fifty day moving average price is $49.07 and its 200-day moving average price is $50.55.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. On average, equities research analysts anticipate that General Motors will post 11.44 EPS for the current year.

General Motors declared that its board has approved a share repurchase plan on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of General Motors stock in a transaction on Thursday, January 30th. The shares were acquired at an average cost of $50.66 per share, with a total value of $607,920.00. Following the transaction, the director now owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On General Motors

Several institutional investors and hedge funds have recently modified their holdings of GM. Golden State Wealth Management LLC bought a new position in General Motors in the fourth quarter worth about $25,000. Crews Bank & Trust purchased a new position in shares of General Motors during the 4th quarter worth approximately $26,000. Truvestments Capital LLC bought a new position in shares of General Motors in the 3rd quarter worth approximately $27,000. Compass Planning Associates Inc purchased a new position in shares of General Motors in the 4th quarter valued at approximately $27,000. Finally, Duncker Streett & Co. Inc. boosted its position in shares of General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 498 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

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.