General Motors’ (GM) “Outperform” Rating Reaffirmed at Royal Bank of Canada

General Motors (NYSE:GM) (TSE:GMM.U)‘s stock had its “outperform” rating reiterated by analysts at Royal Bank of Canada in a research report issued on Wednesday, Benzinga reports. They presently have a $54.00 target price on the auto manufacturer’s stock. Royal Bank of Canada’s price target suggests a potential upside of 14.99% from the stock’s current price.

GM has been the topic of several other reports. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. Morgan Stanley downgraded shares of General Motors from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. The Goldman Sachs Group raised their target price on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. raised their price objective on General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $55.47.

General Motors Price Performance

GM traded up $0.95 on Wednesday, reaching $46.96. The company had a trading volume of 3,916,918 shares, compared to its average volume of 15,196,334. The company has a market capitalization of $53.58 billion, a P/E ratio of 5.74, a PEG ratio of 0.56 and a beta of 1.42. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The company has a fifty day moving average of $45.98 and a 200-day moving average of $45.73. General Motors has a one year low of $26.30 and a one year high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business had revenue of $47.97 billion during the quarter, compared to analysts’ expectations of $45.13 billion. During the same period last year, the firm posted $1.91 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts anticipate that General Motors will post 9.95 earnings per share for the current year.

General Motors declared that its Board of Directors has approved a stock buyback program on Tuesday, June 11th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to reacquire up to 10.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other General Motors news, EVP Rory Harvey sold 12,795 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Paul A. Jacobson acquired 25,000 shares of General Motors stock in a transaction dated Friday, July 26th. The stock was acquired at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 12,795 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at $417,307.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Institutional Investors Weigh In On General Motors

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sendero Wealth Management LLC boosted its stake in General Motors by 7.0% during the 3rd quarter. Sendero Wealth Management LLC now owns 8,118 shares of the auto manufacturer’s stock valued at $364,000 after purchasing an additional 530 shares during the period. USA Financial Formulas lifted its holdings in shares of General Motors by 232.7% during the third quarter. USA Financial Formulas now owns 28,756 shares of the auto manufacturer’s stock worth $1,289,000 after buying an additional 20,114 shares during the last quarter. Bruce G. Allen Investments LLC boosted its position in shares of General Motors by 22.0% in the third quarter. Bruce G. Allen Investments LLC now owns 1,375 shares of the auto manufacturer’s stock valued at $62,000 after acquiring an additional 248 shares during the period. Wedmont Private Capital grew its stake in shares of General Motors by 8.7% in the third quarter. Wedmont Private Capital now owns 8,886 shares of the auto manufacturer’s stock worth $409,000 after acquiring an additional 712 shares during the last quarter. Finally, CWM LLC increased its position in General Motors by 17.8% during the third quarter. CWM LLC now owns 57,583 shares of the auto manufacturer’s stock worth $2,582,000 after acquiring an additional 8,700 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Company Profile

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.