General Motors (NYSE:GM) Raised to “Buy” at Nomura

Nomura upgraded shares of General Motors (NYSE:GM) (TSE:GMM.U) from a neutral rating to a buy rating in a research report released on Wednesday morning, AR Network reports. They currently have $60.00 target price on the auto manufacturer’s stock, up from their prior target price of $27.00.

A number of other equities research analysts have also recently commented on the company. Benchmark lifted their target price on General Motors from $47.00 to $51.00 and gave the stock a buy rating in a research note on Monday, December 21st. Royal Bank of Canada lifted their target price on General Motors from $44.00 to $49.00 and gave the stock an outperform rating in a research note on Friday, November 6th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their target price on General Motors from $54.00 to $57.00 and gave the stock a buy rating in a research note on Tuesday, October 20th. Barclays lifted their target price on General Motors from $45.00 to $49.00 and gave the stock an overweight rating in a research note on Thursday, December 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on General Motors from $43.00 to $48.00 and gave the stock a buy rating in a research note on Friday, November 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $49.68.

GM traded up $2.50 during mid-day trading on Wednesday, reaching $51.23. 1,330,491 shares of the stock were exchanged, compared to its average volume of 28,436,686. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.97 and a current ratio of 1.11. The stock has a market capitalization of $73.33 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 0.97 and a beta of 1.45. The company has a 50 day moving average price of $42.91 and a two-hundred day moving average price of $33.97. General Motors has a 1 year low of $14.32 and a 1 year high of $50.97.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Thursday, November 5th. The auto manufacturer reported $2.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.47 by $1.36. The firm had revenue of $35.48 billion for the quarter, compared to the consensus estimate of $35.35 billion. General Motors had a net margin of 2.92% and a return on equity of 9.78%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.72 EPS. Sell-side analysts expect that General Motors will post 4.37 EPS for the current fiscal year.

In other news, EVP Stephen K. Carlisle sold 10,217 shares of the company’s stock in a transaction dated Wednesday, December 23rd. The stock was sold at an average price of $42.85, for a total transaction of $437,798.45. Following the sale, the executive vice president now directly owns 65,626 shares in the company, valued at $2,812,074.10. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Christopher Hatto sold 8,148 shares of the company’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $36.00, for a total value of $293,328.00. Following the sale, the chief accounting officer now owns 10,040 shares in the company, valued at $361,440. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,929,301 shares of company stock worth $83,297,074. Company insiders own 0.65% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Midwest Bank Trust Division increased its position in shares of General Motors by 4.8% during the fourth quarter. First Midwest Bank Trust Division now owns 9,516 shares of the auto manufacturer’s stock valued at $396,000 after buying an additional 440 shares during the period. IFM Investors Pty Ltd grew its holdings in shares of General Motors by 17.6% during the fourth quarter. IFM Investors Pty Ltd now owns 124,117 shares of the auto manufacturer’s stock worth $5,168,000 after purchasing an additional 18,603 shares in the last quarter. Norway Savings Bank purchased a new position in shares of General Motors during the fourth quarter worth about $30,000. Coastal Investment Advisors Inc. purchased a new position in shares of General Motors during the fourth quarter worth about $210,000. Finally, Investment House LLC purchased a new position in shares of General Motors during the fourth quarter worth about $4,753,000. Hedge funds and other institutional investors own 74.27% of the company’s stock.

About General Motors

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts 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, Holden, Baojun, and Wuling brand names.

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Analyst Recommendations for General Motors (NYSE:GM)

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