Analysts at TD Cowen started coverage on shares of General Motors (NYSE:GM - Get Free Report) TSE: GMM.U in a research report issued on Friday, MarketBeat reports. The firm set a "buy" rating and a $105.00 price target on the auto manufacturer's stock. TD Cowen's price objective points to a potential upside of 121.55% from the company's current price.
Other 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, February 5th. Wells Fargo & Company reissued an "underweight" rating on shares of General Motors in a research report on Monday, February 3rd. UBS Group reissued a "buy" rating on shares of General Motors in a research report on Monday, February 3rd. HSBC cut shares of General Motors from a "buy" rating to a "hold" rating and set a $58.00 target price on the stock. in a report on Wednesday, December 11th. Finally, Hsbc Global Res cut shares of General Motors from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 11th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $62.22.
Check Out Our Latest Research Report on General Motors
General Motors Trading Up 0.4 %
NYSE GM traded up $0.19 during trading hours on Friday, reaching $47.39. The company had a trading volume of 13,822,155 shares, compared to its average volume of 11,861,842. The stock has a 50-day moving average of $49.70 and a 200 day moving average of $50.47. General Motors has a 1-year low of $38.94 and a 1-year high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $47.16 billion, a P/E ratio of 7.71, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42.
General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, research analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.
General Motors declared that its board has authorized a share repurchase plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.
Insider Activity at General Motors
In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of General Motors stock in a transaction on 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 $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is currently owned by insiders.
Institutional Investors Weigh In On General Motors
A number of hedge funds and other institutional investors have recently bought and sold shares of GM. Norges Bank acquired a new stake in General Motors in the fourth quarter valued at $592,321,000. Amundi raised its stake in shares of General Motors by 75.5% during the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer's stock worth $250,627,000 after buying an additional 2,113,973 shares during the last quarter. ACR Alpine Capital Research LLC raised its stake in shares of General Motors by 39.8% during the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer's stock worth $394,060,000 after buying an additional 2,104,528 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of General Motors during the 4th quarter worth $108,366,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of General Motors by 972.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer's stock worth $94,300,000 after buying an additional 1,906,964 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.
About General Motors
(
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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