General Motors (NYSE:GM) PT Raised to $65.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price target boosted by equities research analysts at Royal Bank of Canada from $58.00 to $65.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the auto manufacturer’s stock. Royal Bank of Canada’s target price points to a potential upside of 23.34% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a research report on Monday, August 5th. Wells Fargo & Company boosted their price target on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research note on Wednesday. Barclays increased their price objective on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday. UBS Group boosted their target price on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley cut shares of General Motors from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $47.00 to $42.00 in a research note on Wednesday, September 25th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $56.97.

General Motors Price Performance

Shares of NYSE:GM opened at $52.70 on Wednesday. The business has a fifty day moving average price of $47.52 and a 200-day moving average price of $46.09. 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 company has a market capitalization of $60.13 billion, a PE ratio of 6.44, 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 $54.29.

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

Insider Buying and Selling

In related news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the transaction, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other General Motors news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at $489,942.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the sale, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 531,228 shares of company stock valued at $28,267,714. 0.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On General Motors

Several institutional investors have recently bought and sold shares of GM. Strategic Investment Solutions Inc. IL bought a new stake in shares of General Motors in the 2nd quarter worth about $25,000. Wellington Shields Capital Management LLC bought a new stake in General Motors during the 2nd quarter valued at about $28,000. Fortitude Family Office LLC boosted its position in General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares during the period. Montag A & Associates Inc. bought a new position in General Motors in the 1st quarter worth about $30,000. Finally, EdgeRock Capital LLC purchased a new position in shares of General Motors during the second quarter worth approximately $33,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

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.