JPMorgan Chase & Co. Has Lowered Expectations for General Motors (NYSE:GM) Stock Price

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 research note issued to investors on Thursday, Marketbeat Ratings reports. The firm currently has an “overweight” rating on the auto manufacturer’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 13.61% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. Cowen initiated coverage on General Motors in a research report on Thursday, March 6th. They issued a “buy” rating for the company. TD Cowen initiated 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 downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research note on Wednesday, December 11th. Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Finally, StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Three 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 stock. According to MarketBeat.com, General Motors currently has a consensus rating of “Hold” and a consensus target price of $62.11.

General Motors Stock Performance

Shares of General Motors stock opened at $46.65 on Thursday. The firm has a market cap of $46.42 billion, a PE ratio of 7.59, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The business’s fifty day simple moving average is $48.89 and its 200-day simple moving average is $50.53.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Equities analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its board has authorized a stock buyback plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business’s stock in a transaction dated 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 acquisition, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. The trade was a 700.12 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Golden State Wealth Management LLC acquired a new stake in shares of General Motors during the fourth quarter worth about $25,000. Crews Bank & Trust purchased a new stake in General Motors during the 4th quarter valued at approximately $26,000. Truvestments Capital LLC acquired a new stake in General Motors during 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. increased its holdings in shares of General Motors by 9,960.0% in 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 during the period. 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.