Wells Fargo & Company Boosts General Motors (NYSE:GM) Price Target to $30.00

General Motors (NYSE:GM) (TSE:GMM.U) had its target price lifted by equities researchers at Wells Fargo & Company from $28.00 to $30.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “underweight” rating on the auto manufacturer’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 32.87% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Tigress Financial lifted their target price on shares of General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a report on Thursday, February 15th. Wolfe Research raised shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a report on Thursday, January 4th. TheStreet raised shares of General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. The Goldman Sachs Group lifted their target price on shares of General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Finally, Redburn Atlantic started 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 on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.46.

General Motors Trading Down 0.9 %

GM traded down $0.41 during trading on Wednesday, hitting $44.69. 6,682,790 shares of the stock were exchanged, compared to its average volume of 17,444,070. The firm has a market cap of $51.59 billion, a price-to-earnings ratio of 6.14, a P/E/G ratio of 0.51 and a beta of 1.51. 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. The firm has a 50 day simple moving average of $41.86 and a 200 day simple moving average of $36.06.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data 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 firm had revenue of $43.01 billion for 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%. 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 company posted $2.21 earnings per share. As a group, equities analysts expect that General Motors will post 9.12 EPS for the current year.

Insider Transactions at General Motors

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the transaction, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other General Motors news, EVP Rory Harvey sold 5,100 shares of General Motors stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $43.04, for a total value of $219,504.00. Following the completion of the transaction, the executive vice president now directly owns 12,658 shares of the company’s stock, valued at approximately $544,800.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction that occurred 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 directly 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 valued at $3,614,078 in the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

Institutional Trading of General Motors

Several hedge funds and other institutional investors have recently made changes to their positions in the business. SouthState Corp lifted its stake in shares of General Motors by 173.8% in the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after purchasing an additional 485 shares during the period. Highlander Capital Management LLC purchased a new position in shares of General Motors in the 4th quarter valued at about $27,000. Cape Investment Advisory Inc. raised its holdings in General Motors by 75.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after purchasing an additional 359 shares in the last quarter. BluePath Capital Management LLC acquired a new stake in General Motors during the 3rd quarter worth approximately $33,000. Finally, Sachetta LLC purchased a new stake in shares of General Motors in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors 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.