General Motors (NYSE:GM) Price Target Raised to $56.00

General Motors (NYSE:GM) (TSE:GMM.U) had its target price hoisted by analysts at Royal Bank of Canada from $54.00 to $56.00 in a report issued on Tuesday. The brokerage presently has an “overweight” rating on the auto manufacturer’s stock. Royal Bank of Canada’s target price points to a potential upside of 23.40% from the company’s current price.

A number of other analysts have also weighed in on the stock. Barclays upped their price objective on shares of General Motors from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Piper Sandler began coverage on General Motors in a research report on Friday, March 15th. They set a “neutral” rating and a $44.00 price objective for the company. Morgan Stanley upped their price target on General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Tigress Financial lifted their price objective on General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 15th. Finally, Redburn Atlantic assumed coverage on General Motors in a report on Wednesday, January 24th. They set a “neutral” rating and a $40.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, General Motors currently has an average rating of “Moderate Buy” and an average target price of $52.52.

General Motors Trading Up 5.0 %

Shares of GM stock traded up $2.17 on Tuesday, hitting $45.38. The stock had a trading volume of 6,975,891 shares, compared to its average volume of 17,298,869. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21. The company has a fifty day moving average price of $41.73 and a two-hundred day moving average price of $35.96. The firm has a market cap of $52.39 billion, a P/E ratio of 6.21, a PEG ratio of 0.50 and a beta of 1.51. General Motors has a twelve month low of $26.30 and a twelve month high of $46.04.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. The business had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.21 EPS. As a group, analysts forecast that General Motors will post 9.12 earnings per share for the current fiscal year.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Gerald Johnson sold 27,122 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.26, for a total value of $1,227,541.72. Following the completion of the sale, the executive vice president now owns 71,506 shares in the company, valued at approximately $3,236,361.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the sale, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at $860,710.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Gerald Johnson sold 27,122 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the transaction, the executive vice president now owns 71,506 shares in the company, valued at $3,236,361.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,248 shares of company stock worth $3,614,078. 0.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On General Motors

Several institutional investors and hedge funds have recently modified their holdings of the stock. Unison Advisors LLC increased its holdings in shares of General Motors by 0.4% in the first quarter. Unison Advisors LLC now owns 67,196 shares of the auto manufacturer’s stock valued at $3,047,000 after purchasing an additional 246 shares during the last quarter. Janiczek Wealth Management LLC increased its holdings in shares of General Motors by 5.2% in the first quarter. Janiczek Wealth Management LLC now owns 5,063 shares of the auto manufacturer’s stock valued at $230,000 after purchasing an additional 248 shares during the last quarter. FinTrust Capital Advisors LLC increased its holdings in shares of General Motors by 2.5% in the fourth quarter. FinTrust Capital Advisors LLC now owns 11,113 shares of the auto manufacturer’s stock valued at $399,000 after purchasing an additional 268 shares during the last quarter. Summit Financial LLC boosted its position in shares of General Motors by 4.3% in the fourth quarter. Summit Financial LLC now owns 6,662 shares of the auto manufacturer’s stock valued at $239,000 after acquiring an additional 273 shares during the period. Finally, Sutton Place Investors LLC boosted its position in shares of General Motors by 1.7% in the first quarter. Sutton Place Investors LLC now owns 17,236 shares of the auto manufacturer’s stock valued at $782,000 after acquiring an additional 280 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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.