General Motors (NYSE:GM) Given New $65.00 Price Target at Royal Bank of Canada

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U had its price objective lifted by Royal Bank of Canada from $58.00 to $65.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an "outperform" rating on the auto manufacturer's stock. Royal Bank of Canada's target price points to a potential upside of 22.85% from the company's current price.

Several other equities research analysts have also recently commented on GM. UBS Group increased their price objective on General Motors from $58.00 to $62.00 and gave the company a "buy" rating in a research report on Wednesday. Wedbush raised their price target on shares of General Motors from $55.00 to $60.00 and gave the company an "outperform" rating in a report on Wednesday. DZ Bank cut shares of General Motors from a "buy" rating to a "hold" rating and set a $49.00 price objective for the company. in a report on Friday, October 11th. The Goldman Sachs Group raised their target price on shares of General Motors from $53.00 to $61.00 and gave the stock a "buy" rating in a report on Tuesday, October 1st. Finally, Wells Fargo & Company lifted their target price on shares of General Motors from $33.00 to $38.00 and gave the stock an "underweight" rating in a research report on Wednesday. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $56.97.

General Motors Stock Down 1.5 %

NYSE:GM traded down $0.82 during trading hours on Wednesday, reaching $52.91. 16,106,980 shares of the company traded hands, compared to its average volume of 15,185,354. 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 business's 50-day moving average price is $47.52 and its two-hundred day moving average price is $46.09. General Motors has a 1 year low of $26.30 and a 1 year high of $54.19. The stock has a market capitalization of $60.37 billion, a P/E ratio of 6.47, a P/E/G ratio of 0.56 and a beta of 1.42.

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

Insiders Place Their Bets

In other General Motors news, CFO Paul A. Jacobson bought 25,000 shares of the business's stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Rory Harvey sold 2,302 shares of the 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 owns 10,356 shares in the company, valued at approximately $489,942.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Paul A. Jacobson acquired 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 purchase, the chief financial officer now directly owns 261,872 shares of the company's stock, valued at $11,551,173.92. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company's stock.

Institutional Investors Weigh In On General Motors

Several hedge funds and other institutional investors have recently modified their holdings of the business. Strategic Investment Solutions Inc. IL bought a new position in General Motors in the 2nd quarter worth about $25,000. Wellington Shields Capital Management LLC purchased a new position in General Motors during the 2nd quarter worth $28,000. Fortitude Family Office LLC lifted its holdings in shares of General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer's stock worth $29,000 after buying an additional 225 shares during the period. Montag A & Associates Inc. bought a new position in shares of General Motors during the 1st quarter worth $30,000. Finally, EdgeRock Capital LLC purchased a new position in shares of General Motors during the second quarter valued at $33,000. 92.67% of the stock is currently owned by hedge funds and other 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.