General Motors Company (GM) Receives “Neutral” Rating from Buckingham Research
General Motors Company (NYSE:GM) (TSE:GMM.U)‘s stock had its “neutral” rating reiterated by stock analysts at Buckingham Research in a research report issued to clients and investors on Friday. They currently have a $33.00 target price on the auto manufacturer’s stock. Buckingham Research’s price target would indicate a potential downside of 10.81% from the stock’s current price.
A number of other research analysts also recently weighed in on GM. Berenberg Bank set a $31.00 target price on shares of General Motors and gave the company a “sell” rating in a research report on Monday, August 14th. BidaskClub raised shares of General Motors from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Zacks Investment Research raised shares of General Motors from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Vetr raised shares of General Motors to a “strong-buy” rating in a research report on Friday, June 9th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $40.00 price target (down previously from $44.00) on shares of General Motors in a research note on Friday, June 16th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $38.97.
General Motors (NYSE:GM) traded up 0.24% during midday trading on Friday, hitting $37.00. 8,180,856 shares of the company traded hands. The firm has a market capitalization of $53.92 billion, a PE ratio of 6.43 and a beta of 1.44. The stock’s 50-day moving average is $35.69 and its 200-day moving average is $35.08. General Motors has a 12-month low of $30.13 and a 12-month high of $38.55.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The business had revenue of $36.98 billion during the quarter, compared to the consensus estimate of $37.67 billion. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.86 earnings per share. Analysts anticipate that General Motors will post $6.13 EPS for the current fiscal year.
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In other news, Director Jane L. Mendillo bought 1,440 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were purchased at an average cost of $34.86 per share, with a total value of $50,198.40. Following the acquisition, the director now directly owns 4,560 shares in the company, valued at $158,961.60. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Daniel Ammann sold 40,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $36.00, for a total transaction of $1,440,000.00. Following the completion of the transaction, the president now directly owns 235,953 shares in the company, valued at $8,494,308. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 330,673 shares of company stock worth $11,590,746. 0.04% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. YorkBridge Wealth Partners LLC increased its holdings in General Motors by 43.5% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock valued at $101,000 after buying an additional 860 shares during the period. State of Alaska Department of Revenue bought a new position in General Motors in the 1st quarter valued at about $103,000. Franklin Parlapiano Turner & Welch LLC bought a new position in General Motors in the 1st quarter valued at about $106,000. FNY Managed Accounts LLC bought a new position in General Motors in the 1st quarter valued at about $107,000. Finally, Ffcm LLC increased its holdings in General Motors by 2,008.1% in the 2nd quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock valued at $120,000 after buying an additional 3,213 shares during the period. 72.21% of the stock is currently owned by hedge funds and other institutional investors.
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.
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