General Motors Company (GM) Price Target Increased to $44.00 by Analysts at Royal Bank Of Canada
General Motors Company (NYSE:GM) (TSE:GMM.U) had its target price lifted by analysts at Royal Bank Of Canada from $38.00 to $44.00 in a research note issued to investors on Thursday. The firm presently has a “sector perform” rating on the auto manufacturer’s stock. Royal Bank Of Canada’s price target points to a potential upside of 0.50% from the company’s current price.
GM has been the topic of several other research reports. Piper Jaffray Companies reissued a “buy” rating and issued a $44.00 price objective on shares of General Motors in a research note on Tuesday, September 12th. Buckingham Research reissued a “neutral” rating and issued a $33.00 price objective on shares of General Motors in a research note on Friday, September 8th. Instinet reissued a “buy” rating and issued a $43.00 price objective on shares of General Motors in a research note on Tuesday. Jefferies Group LLC reissued a “buy” rating and issued a $36.00 price objective on shares of General Motors in a research note on Tuesday, June 13th. Finally, ValuEngine raised General Motors from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $40.79.
Shares of General Motors (NYSE GM) opened at 43.78 on Thursday. General Motors has a 52-week low of $30.21 and a 52-week high of $43.94. The company’s 50 day moving average price is $37.98 and its 200 day moving average price is $35.40. The company has a market capitalization of $63.80 billion, a price-to-earnings ratio of 7.61 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The company had revenue of $36.98 billion for the quarter, compared to analysts’ expectations of $37.67 billion. During the same quarter in the prior year, the firm earned $1.86 earnings per share. General Motors’s revenue was down 1.1% compared to the same quarter last year. On average, analysts predict that General Motors will post $6.13 EPS for the current year.
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In related news, EVP Craig B. Glidden sold 192,954 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $41.64, for a total value of $8,034,604.56. Following the completion of the transaction, the executive vice president now owns 214,171 shares in the company, valued at approximately $8,918,080.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patricia F. Russo bought 10,000 shares of General Motors stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average price of $34.73 per share, with a total value of $347,300.00. Following the purchase, the director now directly owns 12,300 shares in the company, valued at $427,179. The disclosure for this purchase can be found here. Insiders sold a total of 842,901 shares of company stock valued at $31,928,733 in the last 90 days. 0.04% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GM. Berkshire Hathaway Inc. raised its stake in shares of General Motors by 20.0% during the 2nd quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock valued at $2,095,800,000 after buying an additional 10,000,000 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of General Motors by 290.9% during the 2nd quarter. Janus Henderson Group PLC now owns 10,247,171 shares of the auto manufacturer’s stock valued at $357,944,000 after buying an additional 7,625,809 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of General Motors by 26,374.8% during the 1st 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. Vanguard Group Inc. raised its stake in shares of General Motors by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock valued at $3,262,952,000 after buying an additional 3,560,717 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of General Motors by 129.2% during the 1st 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. Institutional investors and hedge funds own 72.21% of the company’s stock.
General Motors Company Profile
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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