General Motors (NYSE:GM) Stock Price Expected to Rise, Piper Sandler Analyst Says

General Motors (NYSE:GM) (TSE:GMM.U) had its target price boosted by equities research analysts at Piper Sandler from $45.00 to $48.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the auto manufacturer’s stock. Piper Sandler’s price target would indicate a potential downside of 3.56% from the company’s previous close.

Several other research firms have also issued reports on GM. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and raised their price target for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Mizuho raised their price objective on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $63.06.

General Motors Stock Up 0.7 %

Shares of GM opened at $49.77 on Thursday. The firm has a market capitalization of $49.53 billion, a price-to-earnings ratio of 8.09, a PEG ratio of 0.67 and a beta of 1.42. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The business’s fifty day moving average price is $49.02 and its two-hundred day moving average price is $50.46. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 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, analysts predict that General Motors will post 11.44 earnings per share for the current year.

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

Insider Activity

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of General Motors stock in a transaction that occurred on Thursday, January 30th. The stock was acquired at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On General Motors

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. grew its holdings in General Motors by 4.2% during the fourth quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer’s stock worth $1,559,380,000 after purchasing an additional 1,170,816 shares during the period. Geode Capital Management LLC grew its holdings in General Motors by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer’s stock worth $1,264,567,000 after purchasing an additional 176,436 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in General Motors by 6.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock worth $774,766,000 after purchasing an additional 989,750 shares during the period. Dimensional Fund Advisors LP grew its holdings in General Motors by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer’s stock worth $749,382,000 after purchasing an additional 228,408 shares during the period. Finally, Norges Bank bought a new position in General Motors during the fourth quarter worth about $592,321,000. 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.