Sanford C. Bernstein Raises General Motors (NYSE:GM) Price Target to $55.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price target increased by investment analysts at Sanford C. Bernstein from $53.00 to $55.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “market perform” rating on the auto manufacturer’s stock. Sanford C. Bernstein’s target price points to a potential upside of 4.36% from the company’s previous close.

Several other equities research analysts have also issued reports on GM. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $53.00 target price on shares of General Motors in a research report on Tuesday, September 10th. Nomura lowered shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a research report on Monday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. Finally, Wedbush upped their price objective on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, General Motors presently has an average rating of “Hold” and an average price target of $57.06.

General Motors Stock Down 0.4 %

General Motors stock opened at $52.70 on Friday. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $54.29. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The firm’s 50-day simple moving average is $47.52 and its 200 day simple moving average is $46.09. The stock has a market cap of $60.13 billion, a PE ratio of 6.44, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. The firm had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.28 EPS. Research analysts predict that General Motors will post 9.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Rory Harvey sold 12,795 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 531,228 shares of company stock valued at $28,267,714 over the last quarter. 0.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new stake in General Motors during the 2nd quarter valued at $25,000. Wellington Shields Capital Management LLC bought a new position in shares of General Motors during the second quarter valued at about $28,000. Fortitude Family Office LLC boosted its holdings in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the period. Montag A & Associates Inc. bought a new stake in shares of General Motors in the first quarter worth about $30,000. Finally, EdgeRock Capital LLC purchased a new position in General Motors during the 2nd quarter valued at about $33,000. 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.