General Motors (NYSE:GM) Lifted to “Buy” at Argus


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General Motors (NYSE:GM) (TSE:GMM.U) was upgraded by stock analysts at Argus from a “hold” rating to a “buy” rating in a research note issued on Thursday, The Fly reports.

GM has been the subject of a number of other research reports. Benchmark upped their price objective on shares of General Motors from $47.00 to $51.00 and gave the company a “buy” rating in a report on Monday, December 21st. Royal Bank of Canada upped their price objective on shares of General Motors from $44.00 to $49.00 and gave the company an “outperform” rating in a report on Friday, November 6th. Zacks Investment Research raised shares of General Motors from a “hold” rating to a “strong-buy” rating and set a $47.00 price objective for the company in a report on Wednesday, November 11th. BidaskClub lowered shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, January 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Motors from $43.00 to $48.00 and gave the company a “buy” rating in a report on Friday, November 20th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $49.33.

General Motors stock opened at $48.73 on Thursday. General Motors has a 52-week low of $14.32 and a 52-week high of $50.97. The firm has a market capitalization of $69.75 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 0.97 and a beta of 1.45. The company has a fifty day simple moving average of $42.91 and a 200-day simple moving average of $33.97. The company has a quick ratio of 0.97, a current ratio of 1.11 and a debt-to-equity ratio of 1.70.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results 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. General Motors had a net margin of 2.92% and a return on equity of 9.78%. The business had revenue of $35.48 billion during the quarter, compared to analyst estimates of $35.35 billion. During the same quarter in the prior year, the firm earned $1.72 earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. On average, research analysts anticipate that General Motors will post 4.37 EPS for the current fiscal year.

In other news, CAO Christopher Hatto sold 8,148 shares of the stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $36.00, for a total transaction of $293,328.00. Following the sale, the chief accounting officer now owns 10,040 shares of the company’s stock, valued at $361,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Craig B. Glidden sold 454,187 shares of the stock in a transaction dated Thursday, December 10th. The stock was sold at an average price of $43.14, for a total transaction of $19,593,627.18. Following the sale, the executive vice president now directly owns 441,686 shares in the company, valued at approximately $19,054,334.04. The disclosure for this sale can be found here. Insiders have sold 1,929,301 shares of company stock worth $83,297,074 in the last three months. Corporate insiders own 0.65% of the company’s stock.

Large investors have recently modified their holdings of the stock. Advisor Partners LLC raised its holdings in General Motors by 6.1% in the third quarter. Advisor Partners LLC now owns 35,179 shares of the auto manufacturer’s stock valued at $1,041,000 after acquiring an additional 2,033 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in General Motors by 11.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 228,273 shares of the auto manufacturer’s stock valued at $6,754,000 after acquiring an additional 22,628 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in General Motors by 22.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 78,200 shares of the auto manufacturer’s stock valued at $3,256,000 after acquiring an additional 14,300 shares in the last quarter. Wedbush Securities Inc. raised its holdings in General Motors by 15.5% in the third quarter. Wedbush Securities Inc. now owns 22,955 shares of the auto manufacturer’s stock valued at $679,000 after acquiring an additional 3,084 shares in the last quarter. Finally, TIAA FSB raised its holdings in General Motors by 8.7% in the third quarter. TIAA FSB now owns 28,224 shares of the auto manufacturer’s stock valued at $835,000 after acquiring an additional 2,262 shares in the last quarter. 74.27% of the stock is currently owned by hedge funds and other institutional investors.

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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