General Motors’ (GM) “Outperform” Rating Reiterated at Royal Bank of Canada

General Motors (NYSE:GM) (TSE:GMM.U)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $54.00 price objective on the auto manufacturer’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 13.23% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. Wedbush reissued an “outperform” rating and issued a $55.00 target price on shares of General Motors in a research note on Wednesday. Morgan Stanley lowered General Motors from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $47.00 to $42.00 in a research note on Wednesday, September 25th. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Sanford C. Bernstein cut shares of General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 price target on the stock. in a report on Monday, September 23rd. Finally, Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a report on Monday, August 5th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $55.47.

General Motors Price Performance

Shares of NYSE GM opened at $47.69 on Wednesday. The company has a fifty day moving average price of $46.05 and a 200 day moving average price of $45.74. General Motors has a 1-year low of $26.30 and a 1-year high of $50.50. The firm has a market cap of $54.41 billion, a PE ratio of 5.83, a PEG ratio of 0.56 and a beta of 1.42. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. The firm had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.91 EPS. Research analysts predict that General Motors will post 9.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 12,795 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at $417,307.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other General Motors news, EVP Rory Harvey sold 12,795 shares of the business’s 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 sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Paul A. Jacobson purchased 25,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were acquired at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the purchase, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On General Motors

A number of institutional investors have recently modified their holdings of GM. Strategic Investment Solutions Inc. IL bought a new position in shares of General Motors in the 2nd quarter worth about $25,000. Wellington Shields Capital Management LLC bought a new position in shares of General Motors during the 2nd quarter worth about $28,000. Fortitude Family Office LLC increased its position in General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares in the last quarter. Montag A & Associates Inc. bought a new stake in shares of General Motors during the first quarter valued at approximately $30,000. Finally, EdgeRock Capital LLC bought a new position in shares of General Motors in the 2nd quarter worth $33,000. 92.67% of the stock is owned by institutional investors.

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.