General Motors (NYSE:GM) Stock Rating Reaffirmed by Wedbush

General Motors (NYSE:GM) (TSE:GMM.U)‘s stock had its “outperform” rating restated by analysts at Wedbush in a report issued on Wednesday, Benzinga reports. They currently have a $55.00 price target on the auto manufacturer’s stock. Wedbush’s price target would suggest a potential upside of 15.33% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective for the company. in a report on Monday, August 5th. JPMorgan Chase & Co. boosted their price objective on shares of General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Sanford C. Bernstein cut shares of General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 price objective for the company. in a report on Monday, September 23rd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $55.47.

General Motors Trading Down 0.5 %

Shares of NYSE GM opened at $47.69 on Wednesday. General Motors has a 1-year low of $26.30 and a 1-year high of $50.50. The company has a 50-day moving average of $46.05 and a two-hundred day moving average of $45.74. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The company has a market cap of $53.60 billion, a PE ratio of 5.36, a P/E/G ratio of 0.56 and a beta of 1.42.

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

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Paul A. Jacobson purchased 25,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were purchased at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the transaction, the chief financial officer now owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Institutional Trading of General Motors

Several institutional investors and hedge funds have recently added to or reduced their stakes in GM. LM Advisors LLC bought a new stake in General Motors during the fourth quarter worth $306,000. Point72 Italy S.r.l. acquired a new position in shares of General Motors in the fourth quarter valued at $13,218,000. SRS Investment Management LLC acquired a new position in shares of General Motors in the fourth quarter valued at $33,240,000. Cobalt Capital Management Inc. acquired a new position in shares of General Motors in the fourth quarter valued at $4,490,000. Finally, Coatue Management LLC acquired a new position in shares of General Motors in the fourth quarter valued at $57,328,000. 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.