General Motors (NYSE:GM) Rating Reiterated by Wedbush

General Motors (NYSE:GM) (TSE:GMM.U)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a report issued on Wednesday, Benzinga reports. They presently have a $55.00 target price on the auto manufacturer’s stock. Wedbush’s price target points to a potential upside of 18.94% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley cut 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 research report on Wednesday, September 25th. Bank of America reissued a “buy” rating and set a $75.00 price objective on shares of General Motors in a report on Wednesday, June 12th. The Goldman Sachs Group increased their target price on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. Finally, Wolfe Research started coverage on General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Four research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $55.47.

General Motors Stock Performance

Shares of GM opened at $46.24 on Wednesday. The company has a market capitalization of $52.76 billion, a price-to-earnings ratio of 5.65, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. General Motors has a 52-week low of $26.30 and a 52-week high of $50.50. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The stock has a 50 day moving average price of $45.98 and a 200 day moving average price of $45.73.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results 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 quarter in the prior year, the business posted $1.91 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts predict that General Motors will post 9.95 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction that occurred 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 sale, the executive vice president now owns 8,513 shares in the company, valued at $417,307.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Paul A. Jacobson purchased 25,000 shares of General Motors stock in a transaction dated Friday, July 26th. The shares were bought at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the transaction, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Capital World Investors raised its stake in shares of General Motors by 14.6% during the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock valued at $2,211,609,000 after purchasing an additional 6,201,777 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of General Motors by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock worth $601,730,000 after buying an additional 135,717 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of General Motors by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after buying an additional 1,091,137 shares in the last quarter. LSV Asset Management lifted its stake in shares of General Motors by 2.6% in the 2nd quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock worth $411,052,000 after acquiring an additional 223,260 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of General Motors by 0.4% during the fourth quarter. Fisher Asset Management LLC now owns 6,492,719 shares of the auto manufacturer’s stock valued at $233,219,000 after acquiring an additional 26,260 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

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.