General Motors Company (GM) Upgraded to “Buy” by Vetr Inc.
General Motors Company (NYSE:GM) (TSE:GMM.U) was upgraded by investment analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm presently has a $37.42 price target on the auto manufacturer’s stock. Vetr‘s price target would indicate a potential upside of 4.47% from the stock’s current price.
Other analysts have also issued reports about the stock. Bank of America Corporation restated a “buy” rating and issued a $40.00 price objective (down from $44.00) on shares of General Motors in a report on Friday, June 16th. BidaskClub upgraded shares of General Motors from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Jefferies Group LLC reiterated a “buy” rating and set a $36.00 price target on shares of General Motors in a research note on Tuesday, June 13th. Nomura reiterated a “buy” rating and set a $47.00 price target on shares of General Motors in a research note on Tuesday, May 2nd. Finally, UBS AG reiterated a “buy” rating and set a $40.00 price target (up from $38.00) on shares of General Motors in a research note on Friday, April 14th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company. General Motors currently has an average rating of “Buy” and a consensus price target of $39.50.
General Motors (GM) traded down 0.69% on Monday, hitting $35.82. 11,699,821 shares of the stock were exchanged. General Motors has a 52-week low of $29.82 and a 52-week high of $38.55. The stock’s 50 day moving average price is $35.00 and its 200 day moving average price is $35.28. The firm has a market cap of $54.06 billion, a PE ratio of 5.54 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Friday, April 28th. The auto manufacturer reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.25. The firm had revenue of $41.20 billion for the quarter, compared to analyst estimates of $37.38 billion. General Motors had a net margin of 5.92% and a return on equity of 22.82%. General Motors’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.26 EPS. Equities research analysts forecast that General Motors will post $6.07 earnings per share for the current year.
In other General Motors news, insider Stefan Jacoby sold 2,686 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $33.85, for a total value of $90,921.10. Following the completion of the transaction, the insider now owns 80,379 shares in the company, valued at $2,720,829.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark L. Reuss sold 75,000 shares of the stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $33.35, for a total value of $2,501,250.00. Following the completion of the transaction, the insider now owns 133,052 shares of the company’s stock, valued at approximately $4,437,284.20. The disclosure for this sale can be found here. Insiders sold 139,158 shares of company stock valued at $4,643,312 in the last quarter. 0.04% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in General Motors during the fourth quarter valued at about $390,446,000. Emerald Acquisition Ltd. acquired a new position in General Motors during the second quarter valued at about $129,483,000. Clearbridge Investments LLC boosted its position in General Motors by 26,374.8% in the first quarter. Clearbridge Investments LLC now owns 3,970,423 shares of the auto manufacturer’s stock valued at $140,394,000 after buying an additional 3,955,426 shares during the last quarter. Artemis Investment Management LLP boosted its position in General Motors by 126.9% in the second quarter. Artemis Investment Management LLP now owns 6,464,090 shares of the auto manufacturer’s stock valued at $182,903,000 after buying an additional 3,615,099 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in General Motors by 129.2% in the first quarter. Prudential Financial Inc. now owns 6,068,335 shares of the auto manufacturer’s stock valued at $214,576,000 after buying an additional 3,420,200 shares during the last quarter. Hedge funds and other institutional investors own 73.52% of the company’s stock.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for General Motors Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors Company and related companies with MarketBeat.com's FREE daily email newsletter.