Sanford C. Bernstein Initiates Coverage on General Motors (NYSE:GM)

Investment analysts at Sanford C. Bernstein initiated coverage on shares of General Motors (NYSE:GM) (TSE:GMM.U) in a research note issued on Thursday, Briefing.com reports. The brokerage set an “outperform” rating and a $55.00 price target on the auto manufacturer’s stock. Sanford C. Bernstein’s target price would indicate a potential upside of 22.03% from the stock’s previous close.

Several other research firms also recently commented on GM. Piper Sandler lifted their price objective on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday. UBS Group lifted their price objective on General Motors from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday. Mizuho lifted their price objective on General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price objective on General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Tuesday. Finally, Royal Bank of Canada lifted their price objective on General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, General Motors currently has an average rating of “Moderate Buy” and a consensus target price of $54.38.

General Motors Price Performance

Shares of NYSE:GM opened at $45.07 on Thursday. 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 1.22, a current ratio of 1.16 and a quick ratio of 0.90. The business has a fifty day moving average price of $42.00 and a 200-day moving average price of $36.12. The company has a market capitalization of $52.03 billion, a PE ratio of 5.51, a PEG ratio of 0.53 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. During the same period last year, the company earned $2.21 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. As a group, equities analysts expect that General Motors will post 9.26 EPS for the current fiscal year.

Insider Activity

In related news, EVP Julian G. Blissett sold 13,826 shares of the business’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 transaction, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Gerald Johnson sold 27,122 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total value of $1,227,541.72. Following the transaction, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of the business’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 completion of the transaction, the executive vice president now directly owns 87,567 shares in the company, valued at $3,348,562.08. The disclosure for this sale can be found here. Insiders have sold a total of 86,248 shares of company stock valued at $3,614,078 in the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of General Motors

Large investors have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB increased its stake in General Motors by 18.5% in the 4th quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock worth $17,064,000 after acquiring an additional 74,194 shares during the last quarter. Cerity Partners LLC increased its stake in General Motors by 361.1% in the 4th quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock worth $4,300,000 after acquiring an additional 93,754 shares during the last quarter. Foundry Partners LLC increased its stake in General Motors by 15.0% in the 3rd quarter. Foundry Partners LLC now owns 394,047 shares of the auto manufacturer’s stock worth $12,992,000 after acquiring an additional 51,336 shares during the last quarter. Public Sector Pension Investment Board increased its stake in General Motors by 10.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 147,383 shares of the auto manufacturer’s stock worth $4,859,000 after acquiring an additional 14,002 shares during the last quarter. Finally, AM Squared Ltd increased its stake in General Motors by 195.0% in the 4th quarter. AM Squared Ltd now owns 41,300 shares of the auto manufacturer’s stock worth $1,483,000 after acquiring an additional 27,300 shares during the last quarter. Institutional investors 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.