Wells Fargo & Company Cuts General Motors (NYSE:GM) Price Target to $35.00

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U had its price objective lowered by Wells Fargo & Company from $38.00 to $35.00 in a report released on Monday,Benzinga reports. The firm currently has an "underweight" rating on the auto manufacturer's stock. Wells Fargo & Company's target price points to a potential downside of 32.95% from the company's current price.

A number of other brokerages have also weighed in on GM. Royal Bank of Canada lifted their price objective on General Motors from $58.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. HSBC downgraded shares of General Motors from a "buy" rating to a "hold" rating and set a $58.00 price target for the company. in a report on Wednesday, December 11th. UBS Group upped their price target on General Motors from $58.00 to $62.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. DZ Bank downgraded General Motors from a "buy" rating to a "hold" rating and set a $49.00 target price on the stock. in a research report on Friday, October 11th. Finally, Wedbush lifted their price target on General Motors from $55.00 to $60.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $58.70.

General Motors Stock Performance

GM traded down $0.33 during trading on Monday, hitting $52.20. 11,686,865 shares of the stock were exchanged, compared to its average volume of 14,712,841. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $57.40 billion, a P/E ratio of 5.59, a PEG ratio of 0.39 and a beta of 1.42. General Motors has a 1-year low of $34.32 and a 1-year high of $61.24. The stock has a fifty day moving average price of $53.00 and a two-hundred day moving average price of $48.72.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same period in the prior year, the business earned $2.28 EPS. The firm's revenue was up 10.5% compared to the same quarter last year. As a group, sell-side analysts predict that General Motors will post 10.35 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Craig B. Glidden sold 383,142 shares of the firm's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the transaction, the executive vice president now owns 122,465 shares in the company, valued at approximately $6,935,192.95. This trade represents a 75.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mary T. Barra sold 506,824 shares of the business's stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the sale, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,030,475 shares of company stock valued at $56,509,286 in the last quarter. Company insiders own 0.72% of the company's stock.

Institutional Trading of General Motors

A number of large investors have recently added to or reduced their stakes in the business. Allworth Financial LP increased its stake in General Motors by 2.3% in the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer's stock worth $412,000 after purchasing an additional 205 shares in the last quarter. Avestar Capital LLC increased its position in shares of General Motors by 2.3% in the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer's stock worth $430,000 after acquiring an additional 213 shares in the last quarter. Continuum Advisory LLC raised its holdings in shares of General Motors by 7.9% during the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer's stock valued at $131,000 after acquiring an additional 213 shares during the period. SeaCrest Wealth Management LLC lifted its position in shares of General Motors by 3.5% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer's stock valued at $316,000 after acquiring an additional 227 shares in the last quarter. Finally, Institute for Wealth Management LLC. lifted its position in shares of General Motors by 0.6% in the 2nd quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer's stock valued at $1,702,000 after acquiring an additional 230 shares in the last quarter. 92.67% of the stock is currently 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.