General Motors (NYSE:GM) (TSE:GMM.U) received a $46.00 target price from research analysts at Morgan Stanley in a research note issued to investors on Monday, TipRanks reports. The brokerage currently has a “buy” rating on the auto manufacturer’s stock. Morgan Stanley’s price objective would indicate a potential upside of 23.72% from the stock’s current price.
A number of other analysts have also recently weighed in on GM. Credit Suisse Group initiated coverage on shares of General Motors in a research note on Wednesday, June 26th. They set an “outperform” rating and a $48.00 target price on the stock. Nomura set a $38.00 target price on shares of General Motors and gave the stock a “hold” rating in a research note on Wednesday, August 7th. ValuEngine raised shares of General Motors from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Citigroup boosted their target price on shares of General Motors from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada boosted their target price on shares of General Motors to $52.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $47.62.
Shares of NYSE GM traded down $1.83 during midday trading on Monday, reaching $37.18. 680,236 shares of the company were exchanged, compared to its average volume of 8,936,818. The company’s 50-day moving average price is $39.29. The stock has a market capitalization of $55.70 billion, a PE ratio of 5.71, a P/E/G ratio of 0.67 and a beta of 1.39. General Motors has a one year low of $30.56 and a one year high of $41.90. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 1.56.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Thursday, August 1st. The auto manufacturer reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.21. The firm had revenue of $36.06 billion for the quarter, compared to analysts’ expectations of $36.03 billion. General Motors had a net margin of 6.31% and a return on equity of 21.08%. The company’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.81 earnings per share. Analysts forecast that General Motors will post 6.68 EPS for the current fiscal year.
In other news, President Mark L. Reuss sold 275,944 shares of General Motors stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $40.03, for a total transaction of $11,046,038.32. Following the transaction, the president now owns 479,413 shares in the company, valued at $19,190,902.39. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.51% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of GM. Sandler Capital Management bought a new stake in shares of General Motors during the second quarter worth about $270,000. Zebra Capital Management LLC increased its position in shares of General Motors by 7.4% during the second quarter. Zebra Capital Management LLC now owns 31,970 shares of the auto manufacturer’s stock worth $1,232,000 after acquiring an additional 2,190 shares in the last quarter. Balyasny Asset Management LLC increased its position in shares of General Motors by 1,004.1% during the second quarter. Balyasny Asset Management LLC now owns 2,427,746 shares of the auto manufacturer’s stock worth $93,541,000 after acquiring an additional 2,207,859 shares in the last quarter. Assetmark Inc. increased its position in shares of General Motors by 4.7% during the second quarter. Assetmark Inc. now owns 104,614 shares of the auto manufacturer’s stock worth $4,031,000 after acquiring an additional 4,684 shares in the last quarter. Finally, First Foundation Advisors bought a new stake in shares of General Motors during the second quarter worth about $307,000. Institutional investors own 75.92% of the company’s stock.
General Motors Company Profile
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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