General Motors (NYSE:GM) PT Raised to $70.00

by · The Cerbat Gem

General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) had its target price increased by Barclays from $64.00 to $70.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the auto manufacturer’s stock. Barclays‘s target price indicates a potential upside of 30.99% from the company’s current price.

Several other brokerages also recently issued reports on GM. Wells Fargo & Company lowered their price objective on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a research report on Tuesday, September 10th. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. UBS Group lifted their price objective on shares of General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. lifted their target price on General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, DZ Bank cut General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a research note on Friday, October 11th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $55.63.

Read Our Latest Analysis on General Motors

General Motors Trading Down 0.5 %

Shares of GM stock opened at $53.44 on Wednesday. The firm has a market cap of $60.97 billion, a P/E ratio of 6.53, a PEG ratio of 0.56 and a beta of 1.42. General Motors has a 1-year low of $26.30 and a 1-year high of $54.17. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The firm’s 50-day simple moving average is $47.33 and its 200-day simple moving average is $46.04.

General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same period in the prior year, the firm posted $2.28 EPS. The company’s revenue was up 10.5% on a year-over-year basis. As a group, equities analysts forecast that General Motors will post 9.95 EPS for the current year.

Insider Buying and Selling at General Motors

In other General Motors news, CFO Paul A. Jacobson acquired 25,000 shares of General Motors stock in a transaction on Friday, July 26th. The shares were bought at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the purchase, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Paul A. Jacobson acquired 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now owns 261,872 shares of the company’s stock, valued at $11,551,173.92. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.72% of the company’s stock.

Institutional Trading of General Motors

Hedge funds have recently made changes to their positions in the business. ACR Alpine Capital Research LLC increased its stake in General Motors by 8.4% during the 1st quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock worth $287,408,000 after acquiring an additional 492,693 shares during the period. BDF Gestion bought a new stake in General Motors during the 2nd quarter worth $2,886,000. Atomi Financial Group Inc. acquired a new position in General Motors during the 1st quarter worth about $244,000. Cetera Investment Advisers lifted its stake in shares of General Motors by 98.5% in the 1st quarter. Cetera Investment Advisers now owns 330,611 shares of the auto manufacturer’s stock valued at $14,993,000 after purchasing an additional 164,083 shares during the period. Finally, Susquehanna International Group Ltd. acquired a new position in shares of General Motors in the 2nd quarter valued at about $636,000. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Company Profile

(Get Free Report)

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.

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