Piper Jaffray Companies Analysts Give General Motors Company (GM) a $51.00 Price Target
General Motors Company (NYSE:GM) (TSE:GMM.U) has been given a $51.00 price target by stock analysts at Piper Jaffray Companies in a research report issued on Tuesday. The brokerage currently has a “buy” rating on the auto manufacturer’s stock. Piper Jaffray Companies’ price objective suggests a potential upside of 9.72% from the company’s current price.
A number of other research firms have also recently commented on GM. Berenberg Bank set a $31.00 price target on General Motors and gave the stock a “sell” rating in a report on Monday, August 14th. Citigroup Inc. reissued a “buy” rating and set a $53.00 price target on shares of General Motors in a report on Monday, October 2nd. BidaskClub raised General Motors from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Zacks Investment Research raised General Motors from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Finally, Barclays PLC raised General Motors from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $41.00 to $55.00 in a report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $42.83.
General Motors (NYSE GM) traded up 2.95% on Tuesday, reaching $46.48. The company’s stock had a trading volume of 27,907,872 shares. The company has a 50-day moving average price of $41.53 and a 200 day moving average price of $36.38. The company has a market cap of $67.73 billion, a P/E ratio of 8.08 and a beta of 1.44. General Motors has a 12 month low of $30.21 and a 12 month high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.21. The firm had revenue of $30.48 billion during the quarter, compared to analysts’ expectations of $29.93 billion. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The company’s quarterly revenue was down 16.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.72 EPS. On average, equities research analysts anticipate that General Motors will post $6.12 EPS for the current fiscal year.
ILLEGAL ACTIVITY WARNING: This article was originally published by American Banking News and is the property of of American Banking News. If you are viewing this article on another publication, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this article can be accessed at https://www.americanbankingnews.com/2017/10/24/piper-jaffray-companies-analysts-give-general-motors-company-gm-a-51-00-price-target.html.
In other General Motors news, VP Thomas S. Timko sold 17,255 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $35.79, for a total value of $617,556.45. Following the transaction, the vice president now owns 26,100 shares in the company, valued at $934,119. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Charles K. Stevens III sold 16,000 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $35.80, for a total value of $572,800.00. Following the completion of the transaction, the insider now owns 77,052 shares in the company, valued at approximately $2,758,461.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 852,901 shares of company stock worth $32,378,733. Corporate insiders own 0.04% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Intrust Bank NA boosted its holdings in General Motors by 0.3% in the second quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock worth $250,000 after acquiring an additional 25 shares in the last quarter. IFC Holdings Incorporated FL raised its stake in shares of General Motors by 0.3% in the second quarter. IFC Holdings Incorporated FL now owns 32,119 shares of the auto manufacturer’s stock worth $1,120,000 after purchasing an additional 88 shares during the last quarter. Rehmann Capital Advisory Group raised its stake in shares of General Motors by 1.8% in the second quarter. Rehmann Capital Advisory Group now owns 6,583 shares of the auto manufacturer’s stock worth $230,000 after purchasing an additional 115 shares during the last quarter. Alpha Windward LLC raised its stake in shares of General Motors by 2.3% in the second quarter. Alpha Windward LLC now owns 5,542 shares of the auto manufacturer’s stock worth $194,000 after purchasing an additional 125 shares during the last quarter. Finally, Heritage Investors Management Corp raised its stake in shares of General Motors by 0.3% in the second quarter. Heritage Investors Management Corp now owns 49,657 shares of the auto manufacturer’s stock worth $1,735,000 after purchasing an additional 130 shares during the last quarter. Institutional investors and hedge funds own 72.50% 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.
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.