General Motors (NYSE:GM - Get Free Report) TSE: GMM.U had its price target boosted by research analysts at Piper Sandler from $45.00 to $48.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the auto manufacturer's stock. Piper Sandler's price target suggests a potential downside of 6.73% from the stock's current price.
Other equities research analysts have also recently issued reports about the stock. Morgan Stanley upgraded shares of General Motors from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $46.00 to $54.00 in a report on Tuesday, December 10th. The Goldman Sachs Group set a $73.00 target price on General Motors in a research note on Saturday, March 1st. Cowen began coverage on General Motors in a report on Thursday, March 6th. They issued a "buy" rating on the stock. TD Cowen started coverage on General Motors in a research report on Friday, March 7th. They issued a "buy" rating and a $105.00 price objective for the company. Finally, Hsbc Global Res downgraded shares of General Motors from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, General Motors presently has a consensus rating of "Hold" and a consensus target price of $63.06.
Check Out Our Latest Stock Analysis on GM
General Motors Stock Performance
Shares of GM stock traded up $1.67 during trading on Thursday, reaching $51.47. The company had a trading volume of 16,019,674 shares, compared to its average volume of 12,893,087. The firm's 50 day simple moving average is $49.05 and its two-hundred day simple moving average is $50.51. General Motors has a one year low of $38.96 and a one year high of $61.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The company has a market capitalization of $51.21 billion, a PE ratio of 8.37, a PEG ratio of 0.67 and a beta of 1.42.
General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Sell-side analysts forecast that General Motors will post 11.44 earnings per share for the current year.
General Motors announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.
Insiders Place Their Bets
In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the company's stock in a transaction dated Thursday, January 30th. The stock was bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. This represents a 700.12 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.72% of the company's stock.
Institutional Investors Weigh In On General Motors
Large investors have recently bought and sold shares of the business. Golden State Wealth Management LLC acquired a new position in General Motors in the fourth quarter worth $25,000. Crews Bank & Trust bought a new position in shares of General Motors in the fourth quarter valued at about $26,000. Truvestments Capital LLC bought a new position in shares of General Motors in the third quarter valued at about $27,000. Compass Planning Associates Inc acquired a new position in General Motors during the 4th quarter worth about $27,000. Finally, Duncker Streett & Co. Inc. grew its holdings in General Motors by 9,960.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock worth $27,000 after acquiring an additional 498 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.
General Motors Company Profile
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Get Free Report)
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.
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