General Motors (NYSE:GM) Price Target Raised to $58.00

General Motors (NYSE:GM) (TSE:GMM.U) had its target price hoisted by equities researchers at UBS Group from $56.00 to $58.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the auto manufacturer’s stock. UBS Group’s price objective suggests a potential upside of 29.70% from the company’s previous close.

GM has been the subject of a number of other reports. Piper Sandler lifted their target price on shares of General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday. Redburn Atlantic assumed coverage on shares of General Motors in a research report on Wednesday, January 24th. They set a “neutral” rating and a $40.00 price target for the company. Wedbush raised their price target on shares of General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday. Morgan Stanley raised their price target on shares of General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Finally, Mizuho lifted their target price on shares of General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, General Motors presently has an average rating of “Moderate Buy” and an average price target of $54.29.

General Motors Stock Down 0.8 %

Shares of NYSE:GM traded down $0.38 during trading on Wednesday, reaching $44.72. The stock had a trading volume of 7,646,824 shares, compared to its average volume of 17,457,936. General Motors has a one year low of $26.30 and a one year high of $46.04. The company has a market capitalization of $51.63 billion, a P/E ratio of 6.13, a PEG ratio of 0.51 and a beta of 1.51. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21. The firm’s 50-day simple moving average is $41.86 and its 200 day simple moving average is $36.06.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The business had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $2.21 EPS. As a group, research analysts expect that General Motors will post 9.12 EPS for the current fiscal year.

Insider Activity at General Motors

In related news, CAO Christopher Hatto sold 3,500 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the completion of the sale, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at $540,315. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the transaction, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at $540,315. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Rory Harvey sold 5,100 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $43.04, for a total transaction of $219,504.00. Following the sale, the executive vice president now directly owns 12,658 shares in the company, valued at approximately $544,800.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is owned by company insiders.

Institutional Trading of General Motors

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arkadios Wealth Advisors purchased a new position in shares of General Motors during the third quarter worth approximately $249,000. Impact Partnership Wealth LLC grew its position in shares of General Motors by 53.8% during the third quarter. Impact Partnership Wealth LLC now owns 1,649 shares of the auto manufacturer’s stock worth $54,000 after acquiring an additional 577 shares during the last quarter. Founders Financial Securities LLC grew its position 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 valued at $477,000 after buying an additional 890 shares during the last quarter. Exchange Traded Concepts LLC grew its position 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 valued at $7,010,000 after buying an additional 210,835 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in General Motors in the 3rd quarter valued at $122,000. Institutional investors and hedge funds 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.