Citigroup Increases General Motors (NYSE:GM) Price Target to $96.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price target hoisted by investment analysts at Citigroup from $95.00 to $96.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the auto manufacturer’s stock. Citigroup’s target price points to a potential upside of 110.43% from the company’s previous close.

Other analysts have also recently issued reports about the company. UBS Group boosted their price target on General Motors from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler boosted their price target on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday. Morgan Stanley boosted their price target on General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Mizuho boosted their price target on General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Barclays boosted their price target on General Motors from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.38.

General Motors Stock Performance

General Motors stock opened at $45.62 on Wednesday. The stock’s 50 day simple moving average is $42.13 and its two-hundred day simple moving average is $36.19. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.90 and a current ratio of 1.16. The stock has a market cap of $52.67 billion, a price-to-earnings ratio of 5.58, a PEG ratio of 0.53 and a beta of 1.51. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $46.04.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. During the same period in the previous year, the firm posted $2.21 EPS. The business’s revenue was up 7.6% on a year-over-year basis. As a group, analysts expect that General Motors will post 9.26 earnings per share for the current fiscal year.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the sale, the executive vice president now directly owns 87,567 shares in the company, valued at approximately $3,348,562.08. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Gerald Johnson sold 15,190 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $40.03, for a total value of $608,055.70. Following the completion of the sale, the executive vice president now directly owns 98,628 shares in the company, valued at approximately $3,948,078.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the sale, the executive vice president now owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,248 shares of company stock worth $3,614,078. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On General Motors

Hedge funds and other institutional investors have recently modified their holdings of the stock. Arkadios Wealth Advisors bought a new position in General Motors in the 3rd quarter worth $249,000. Impact Partnership Wealth LLC boosted its holdings in General Motors by 53.8% in the 3rd quarter. Impact Partnership Wealth LLC now owns 1,649 shares of the auto manufacturer’s stock worth $54,000 after buying an additional 577 shares during the period. Founders Financial Securities LLC boosted its holdings in General Motors by 6.6% in the 3rd quarter. Founders Financial Securities LLC now owns 14,472 shares of the auto manufacturer’s stock worth $477,000 after buying an additional 890 shares during the period. Exchange Traded Concepts LLC boosted its holdings in General Motors by 11,739.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 212,631 shares of the auto manufacturer’s stock worth $7,010,000 after buying an additional 210,835 shares during the period. Finally, Counterpoint Mutual Funds LLC bought a new position in General Motors in the 3rd quarter worth $122,000. 92.67% of the stock is currently 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.