Wedbush Boosts General Motors (NYSE:GM) Price Target to $55.00

General Motors (NYSE:GM) (TSE:GMM.U) had its target price increased by research analysts at Wedbush from $45.00 to $55.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the auto manufacturer’s stock. Wedbush’s price target would indicate a potential upside of 21.95% from the company’s previous close.

Several other equities research analysts also recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of General Motors from $27.00 to $28.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 31st. Piper Sandler initiated coverage on shares of General Motors in a research report on Friday, March 15th. They set a “neutral” rating and a $44.00 price objective for the company. Barclays raised their price objective on shares of General Motors from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. TheStreet upgraded shares of General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Finally, Morgan Stanley raised their price objective 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.29.

General Motors Trading Up 4.4 %

Shares of NYSE:GM opened at $45.10 on Wednesday. General Motors has a 52-week low of $26.30 and a 52-week high of $46.04. The company has a market capitalization of $52.06 billion, a P/E ratio of 6.17, a price-to-earnings-growth ratio of 0.51 and a beta of 1.51. The company has a 50-day simple moving average of $41.86 and a 200 day simple moving average of $36.06. 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 issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.60. The business had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. General Motors’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the business posted $2.21 EPS. Sell-side analysts forecast that General Motors will post 9.12 earnings per share for the current year.

Insider Activity at General Motors

In related news, CAO Christopher Hatto sold 15,510 shares of General Motors stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the transaction, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at $860,710.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other General Motors news, EVP Gerald Johnson sold 27,122 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total value of $1,227,541.72. Following the sale, the executive vice president now owns 71,506 shares in the company, valued at $3,236,361.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christopher Hatto sold 15,510 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the completion of the sale, the chief accounting officer now owns 21,507 shares in the company, valued at approximately $860,710.14. The disclosure for this sale can be found here. Insiders have sold 86,248 shares of company stock valued at $3,614,078 over the last three months. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On General Motors

A number of hedge funds have recently modified their holdings of the business. Unison Advisors LLC lifted its holdings in shares of General Motors by 0.4% during the first quarter. Unison Advisors LLC now owns 67,196 shares of the auto manufacturer’s stock worth $3,047,000 after purchasing an additional 246 shares during the period. Janiczek Wealth Management LLC lifted its holdings in shares of General Motors by 5.2% during the first quarter. Janiczek Wealth Management LLC now owns 5,063 shares of the auto manufacturer’s stock worth $230,000 after purchasing an additional 248 shares during the period. FinTrust Capital Advisors LLC lifted its holdings in shares of General Motors by 2.5% during the fourth quarter. FinTrust Capital Advisors LLC now owns 11,113 shares of the auto manufacturer’s stock worth $399,000 after purchasing an additional 268 shares during the period. Summit Financial LLC lifted its holdings in shares of General Motors by 4.3% during the fourth quarter. Summit Financial LLC now owns 6,662 shares of the auto manufacturer’s stock worth $239,000 after purchasing an additional 273 shares during the period. Finally, Sutton Place Investors LLC lifted its holdings in shares of General Motors by 1.7% during the first quarter. Sutton Place Investors LLC now owns 17,236 shares of the auto manufacturer’s stock worth $782,000 after purchasing an additional 280 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Company Profile

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.