General Motors Company (NYSE:GM) (TSE:GMM.U)‘s stock had its “buy” rating restated by equities research analysts at UBS AG in a report issued on Wednesday. They presently have a $50.00 target price on the auto manufacturer’s stock, up from their previous target price of $39.00. UBS AG’s target price indicates a potential upside of 10.60% from the stock’s current price.
GM has been the topic of several other research reports. Buckingham Research reiterated a “hold” rating on shares of General Motors in a report on Thursday, August 24th. Wolfe Research began coverage on General Motors in a report on Tuesday, June 13th. They issued a “market perform” rating and a $33.00 price objective on the stock. Zacks Investment Research downgraded General Motors from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. BidaskClub downgraded General Motors from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $43.00 price objective (up previously from $40.00) on shares of General Motors in a report on Thursday, September 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $41.83.
General Motors (GM) opened at 45.21 on Wednesday. The company has a market cap of $65.88 billion, a P/E ratio of 7.86 and a beta of 1.45. The stock’s 50 day moving average price is $39.09 and its 200-day moving average price is $35.69. General Motors has a 52-week low of $30.21 and a 52-week high of $45.43.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.17. The firm had revenue of $36.98 billion for the quarter, compared to the consensus estimate of $37.67 billion. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.86 EPS. On average, equities analysts predict that General Motors will post $6.13 earnings per share for the current fiscal year.
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In other General Motors news, Director Patricia F. Russo bought 10,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was acquired at an average cost of $34.73 per share, with a total value of $347,300.00. Following the purchase, the director now owns 12,300 shares in the company, valued at approximately $427,179. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Karl-Thomas Neumann sold 234,274 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $34.77, for a total value of $8,145,706.98. Following the transaction, the insider now directly owns 234,274 shares of the company’s stock, valued at $8,145,706.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 852,901 shares of company stock valued at $32,378,733. 0.04% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of GM. YorkBridge Wealth Partners LLC raised its stake in shares of General Motors by 43.5% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock worth $101,000 after buying an additional 860 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC purchased a new position in shares of General Motors during the 1st quarter worth approximately $106,000. FNY Managed Accounts LLC purchased a new position in shares of General Motors during the 1st quarter worth approximately $107,000. State of Alaska Department of Revenue raised its stake in shares of General Motors by 10.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,249 shares of the auto manufacturer’s stock worth $113,000 after buying an additional 310 shares in the last quarter. Finally, Ffcm LLC raised its stake in shares of General Motors by 2,008.1% during the 2nd quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock worth $120,000 after buying an additional 3,213 shares in the last quarter. 72.22% of the stock is owned by institutional investors and hedge funds.
General Motors Company Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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