General Motors (NYSE:GM) PT Raised to $30.00

General Motors (NYSE:GM) (TSE:GMM.U) had its target price boosted by Wells Fargo & Company from $28.00 to $30.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “underweight” rating on the auto manufacturer’s stock. Wells Fargo & Company‘s target price points to a potential downside of 32.87% from the stock’s previous close.

GM has been the subject of several other reports. Wolfe Research upgraded General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Thursday, January 4th. Morgan Stanley lifted 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. Royal Bank of Canada lifted their price target on shares of General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday. The Goldman Sachs Group increased their price objective on General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Finally, Barclays boosted their target price 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, four have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, General Motors has a consensus rating of “Moderate Buy” and an average target price of $53.46.

General Motors Stock Performance

Shares of GM traded down $0.41 during midday trading on Wednesday, hitting $44.69. 6,682,790 shares of the stock traded hands, compared to its average volume of 17,444,070. The firm has a market capitalization of $51.59 billion, a PE ratio of 6.14, a price-to-earnings-growth ratio of 0.51 and a beta of 1.51. The business’s 50 day moving average price is $41.86 and its two-hundred day moving average price is $36.06. General Motors has a 1-year low of $26.30 and a 1-year high of $46.04. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 1.08.

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 (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.60. The company had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.21 earnings per share. Equities research analysts predict that General Motors will post 9.12 EPS for the current fiscal year.

Insider Activity at General Motors

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the transaction, the executive vice president now owns 87,567 shares in the company, valued at $3,348,562.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other General Motors news, CAO Christopher Hatto sold 15,510 shares of General Motors stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.02, for a total value of $620,710.20. Following the sale, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Julian G. Blissett sold 13,826 shares of General Motors 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 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. Insiders have sold 86,248 shares of company stock worth $3,614,078 over the last 90 days. 0.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On General Motors

Several institutional investors and hedge funds have recently bought and sold shares of GM. Arkadios Wealth Advisors purchased a new stake in shares of General Motors during the 3rd quarter worth about $249,000. Impact Partnership Wealth LLC raised its stake 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 valued at $54,000 after purchasing an additional 577 shares during the last quarter. Founders Financial Securities LLC boosted its holdings in shares of General Motors by 6.6% during the 3rd quarter. Founders Financial Securities LLC now owns 14,472 shares of the auto manufacturer’s stock worth $477,000 after purchasing an additional 890 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in General Motors by 11,739.1% during the third 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 last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in General Motors during the third quarter worth $122,000. 92.67% of the stock is 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.