General Motors (NYSE:GM) PT Raised to $60.00 at Wedbush

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective lifted by research analysts at Wedbush from $55.00 to $60.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the auto manufacturer’s stock. Wedbush’s price target suggests a potential upside of 13.85% from the stock’s previous close.

Several other research analysts have also weighed in on the company. DZ Bank lowered General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research report on Friday, October 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $54.00 price target on shares of General Motors in a research note on Wednesday, October 9th. Sanford C. Bernstein downgraded shares of General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 price objective for the company. in a research report on Monday, September 23rd. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 target price on shares of General Motors in a research note on Tuesday, September 10th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $56.97.

General Motors Price Performance

Shares of GM opened at $52.70 on Wednesday. The business has a 50-day moving average of $47.52 and a 200-day moving average of $46.09. General Motors has a 1 year low of $26.30 and a 1 year high of $54.29. The company has a market capitalization of $60.13 billion, a price-to-earnings ratio of 6.44, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99.

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

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 2,302 shares of General Motors 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 transaction, the executive vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was 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 document filed with the SEC, which is available through the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. This trade represents a 0.00 % decrease in their ownership of the stock. 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. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On General Motors

Hedge funds have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL purchased a new stake in General Motors in the 2nd quarter worth about $25,000. Wellington Shields Capital Management LLC bought a new position in General Motors during the second quarter worth about $28,000. Fortitude Family Office LLC increased its stake in shares of General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares in the last quarter. Montag A & Associates Inc. bought a new stake in shares of General Motors in the first quarter valued at approximately $30,000. Finally, EdgeRock Capital LLC bought a new position in General Motors in the 2nd quarter worth approximately $33,000. 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.