General Motors (NYSE:GM) Now Covered by Analysts at Bank of America

Investment analysts at Bank of America initiated coverage on shares of General Motors (NYSE:GM) (TSE:GMM.U) in a report issued on Wednesday. The firm set a “buy” rating and a $105.00 price target on the auto manufacturer’s stock. Bank of America‘s price objective would indicate a potential upside of 33.05% from the stock’s previous close.

GM has been the topic of several other reports. Mizuho lifted their price target on shares of General Motors from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. TD Cowen restated a “buy” rating on shares of General Motors in a research report on Wednesday, January 28th. Piper Sandler reiterated an “overweight” rating and set a $105.00 price target (up from $98.00) on shares of General Motors in a report on Wednesday, January 28th. DZ Bank upgraded General Motors from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a research note on Thursday, January 29th. Finally, Barclays set a $110.00 price objective on General Motors in a research report on Wednesday, January 28th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $91.39.

General Motors Price Performance

Shares of GM stock traded up $1.65 during trading hours on Wednesday, reaching $78.92. The company’s stock had a trading volume of 2,398,955 shares, compared to its average volume of 8,637,786. General Motors has a fifty-two week low of $41.60 and a fifty-two week high of $87.62. The firm’s 50 day simple moving average is $81.87 and its 200-day simple moving average is $71.41. The company has a quick ratio of 1.01, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $71.34 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 0.43 and a beta of 1.37.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, January 27th. The auto manufacturer reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.25. General Motors had a return on equity of 14.72% and a net margin of 1.46%.The business had revenue of $45.29 billion during the quarter, compared to the consensus estimate of $45.81 billion. During the same period in the prior year, the company earned $1.92 EPS. General Motors’s revenue for the quarter was down 5.1% on a year-over-year basis. General Motors has set its FY 2026 guidance at 9.750-10.500 EPS. Sell-side analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its board has authorized a share repurchase plan on Tuesday, January 27th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to reacquire up to 8.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On General Motors

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in General Motors by 11.5% in the second quarter. Vanguard Group Inc. now owns 110,759,703 shares of the auto manufacturer’s stock valued at $5,450,485,000 after buying an additional 11,418,367 shares during the period. Norges Bank acquired a new position in shares of General Motors in the 4th quarter valued at about $918,724,000. Viking Global Investors LP boosted its position in shares of General Motors by 81.1% during the 2nd quarter. Viking Global Investors LP now owns 13,018,874 shares of the auto manufacturer’s stock valued at $640,659,000 after purchasing an additional 5,830,050 shares in the last quarter. Life Cycle Investment Partners Ltd bought a new position in shares of General Motors during the 4th quarter worth approximately $309,380,000. Finally, Two Sigma Investments LP grew its position in shares of General Motors by 348.4% during the 3rd quarter. Two Sigma Investments LP now owns 3,549,170 shares of the auto manufacturer’s stock worth $216,393,000 after buying an additional 2,757,695 shares during the period. 92.67% of the stock is owned by institutional investors.

General Motors Company Profile

General Motors Company (NYSE: GM) is a global automotive manufacturer headquartered in Detroit, Michigan, that designs, builds and sells cars, trucks, crossovers and electric vehicles, and provides related parts and services. Founded in 1908, GM has long been one of the world’s largest automakers and has evolved into a multi-brand company whose primary marques include Chevrolet, GMC, Cadillac and Buick. Beyond vehicle manufacturing, GM’s operations encompass vehicle financing, connected services and advanced mobility initiatives.

GM develops and markets a broad portfolio of products and technologies, including internal-combustion and battery-electric vehicles, vehicle components and on-board connectivity services.