Barclays Reaffirms “Buy” Rating for General Motors (GM)

General Motors (NYSE:GM) (TSE:GMM.U)‘s stock had its “buy” rating reissued by investment analysts at Barclays in a research note issued on Sunday. They currently have a $60.00 price objective on the auto manufacturer’s stock. Barclays’ price target indicates a potential upside of 39.05% from the company’s current price.

Several other analysts have also recently issued reports on GM. Deutsche Bank upgraded General Motors from a “hold” rating to a “buy” rating and increased their target price for the stock from $36.00 to $51.00 in a research report on Monday, September 25th. Citigroup restated a “buy” rating and set a $53.00 price target on shares of General Motors in a report on Monday, October 2nd. Bank of America upgraded General Motors from a “neutral” rating to a “buy” rating and raised their price target for the company from $40.00 to $57.00 in a report on Tuesday, October 3rd. Instinet restated a “buy” rating and set a $43.00 price target on shares of General Motors in a report on Tuesday, October 3rd. Finally, Morgan Stanley restated an “overweight” rating and set a $43.00 price target on shares of General Motors in a report on Wednesday, October 4th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $44.02.

General Motors (NYSE GM) traded down $0.70 during trading hours on Friday, hitting $43.15. The company had a trading volume of 14,470,000 shares, compared to its average volume of 12,160,000. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.94 and a quick ratio of 0.79. General Motors has a 12-month low of $31.92 and a 12-month high of $46.76. The stock has a market capitalization of $61,290.00, a PE ratio of 9.34, a P/E/G ratio of 0.79 and a beta of 1.55.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.25. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The firm had revenue of $30.48 billion during the quarter, compared to analysts’ expectations of $29.93 billion. During the same quarter last year, the business posted $1.72 earnings per share. The firm’s revenue was down 16.6% on a year-over-year basis. research analysts predict that General Motors will post 6.41 EPS for the current year.

In other news, EVP Stefan Jacoby sold 37,961 shares of General Motors stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $42.87, for a total value of $1,627,388.07. Following the completion of the transaction, the executive vice president now owns 98,340 shares in the company, valued at approximately $4,215,835.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Barry L. Engle II sold 50,443 shares of General Motors stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $45.00, for a total value of $2,269,935.00. Following the completion of the transaction, the insider now owns 57,091 shares of the company’s stock, valued at approximately $2,569,095. The disclosure for this sale can be found here. In the last quarter, insiders sold 602,741 shares of company stock valued at $26,678,072. Company insiders own 0.04% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Mariner Wealth Advisors LLC lifted its stake in shares of General Motors by 0.3% during the 1st quarter. Mariner Wealth Advisors LLC now owns 6,550 shares of the auto manufacturer’s stock worth $206,000 after acquiring an additional 20 shares during the last quarter. Alpha Windward LLC lifted its stake in shares of General Motors by 0.4% during the 1st quarter. Alpha Windward LLC now owns 5,417 shares of the auto manufacturer’s stock worth $192,000 after acquiring an additional 21 shares during the last quarter. Intrust Bank NA lifted its stake in shares of General Motors by 0.3% during the 2nd quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock worth $250,000 after acquiring an additional 25 shares during the last quarter. Bank of Hawaii lifted its stake in shares of General Motors by 0.4% during the 3rd quarter. Bank of Hawaii now owns 9,321 shares of the auto manufacturer’s stock worth $296,000 after acquiring an additional 40 shares during the last quarter. Finally, North Star Investment Management Corp. lifted its stake in shares of General Motors by 0.8% during the 1st quarter. North Star Investment Management Corp. now owns 5,215 shares of the auto manufacturer’s stock worth $184,000 after acquiring an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 73.02% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece was posted by American Banking News and is owned by of American Banking News. If you are reading this piece on another site, it was stolen and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this piece can be read at https://www.americanbankingnews.com/2018/01/21/barclays-reaffirms-buy-rating-for-general-motors-gm.html.

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.

Analyst Recommendations for General Motors (NYSE:GM)

Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply