General Motors Company (GM) Receives Buy Rating from UBS AG
General Motors Company (NYSE:GM) (TSE:GMM.U)‘s stock had its “buy” rating reissued by stock analysts at UBS AG in a research note issued on Wednesday, The Fly reports. They presently have a $50.00 price objective on the auto manufacturer’s stock, up from their previous price objective of $39.00. UBS AG’s price objective points to a potential upside of 10.60% from the company’s current price.
A number of other brokerages have also commented on GM. Citigroup Inc. reissued a “buy” rating and set a $53.00 price objective on shares of General Motors in a report on Monday. Royal Bank Of Canada increased their price objective on General Motors from $38.00 to $44.00 and gave the company a “sector perform” rating in a report on Thursday, October 5th. Instinet restated a “buy” rating and set a $43.00 target price on shares of General Motors in a research note on Tuesday, October 3rd. Morgan Stanley restated an “overweight” rating and set a $43.00 target price on shares of General Motors in a research note on Wednesday, October 4th. Finally, Deutsche Bank AG restated a “buy” rating and set a $51.00 target price on shares of General Motors in a research note on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $41.83.
General Motors (NYSE:GM) opened at 45.21 on Wednesday. The stock has a 50 day moving average price of $39.09 and a 200 day moving average price of $35.69. The firm has a market capitalization of $65.88 billion, a price-to-earnings ratio of 7.86 and a beta of 1.45. General Motors has a 1-year low of $30.21 and a 1-year high of $45.43.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.17. The business had revenue of $36.98 billion for the quarter, compared to analyst estimates of $37.67 billion. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.86 EPS. Analysts predict that General Motors will post $6.13 EPS for the current year.
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In other news, Director Jane L. Mendillo purchased 1,440 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were bought at an average cost of $34.86 per share, for a total transaction of $50,198.40. Following the completion of the acquisition, the director now directly owns 4,560 shares in the company, valued at approximately $158,961.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alicia S. Boler-Davis sold 10,000 shares of the business’s stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $45.00, for a total value of $450,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 852,901 shares of company stock worth $32,378,733. Corporate insiders own 0.04% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of General Motors by 4.0% in the second quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock valued at $3,262,952,000 after purchasing an additional 3,560,717 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of General Motors by 1.1% in the second quarter. BlackRock Inc. now owns 78,753,259 shares of the auto manufacturer’s stock valued at $2,750,849,000 after purchasing an additional 850,211 shares in the last quarter. State Street Corp lifted its holdings in shares of General Motors by 3.9% in the first quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock valued at $2,136,563,000 after purchasing an additional 2,252,866 shares in the last quarter. Berkshire Hathaway Inc. lifted its holdings in shares of General Motors by 20.0% in the second quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock valued at $2,095,800,000 after purchasing an additional 10,000,000 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. lifted its holdings in shares of General Motors by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 38,094,453 shares of the auto manufacturer’s stock valued at $1,197,309,000 after purchasing an additional 591,216 shares in the last quarter. Institutional investors own 72.22% 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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