Goldman Sachs Group Reiterates $33.00 Price Target for General Motors (GM)

General Motors (NYSE:GM) (TSE:GMM.U) has been assigned a $33.00 target price by investment analysts at Goldman Sachs Group in a research report issued on Tuesday. The firm presently has a “sell” rating on the auto manufacturer’s stock. Goldman Sachs Group’s price objective points to a potential downside of 19.83% from the company’s current price.

Several other research analysts have also issued reports on GM. Vetr upgraded shares of General Motors from a “sell” rating to a “hold” rating and set a $40.24 target price for the company in a research report on Monday. Piper Jaffray Companies set a $44.00 target price on shares of General Motors and gave the stock a “buy” rating in a research report on Monday, October 16th. Jefferies Group upped their target price on shares of General Motors from $36.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, October 30th. Evercore ISI upped their target price on shares of General Motors from $40.00 to $41.38 in a research report on Friday, December 29th. Finally, Barclays reiterated an “overweight” rating and issued a $57.00 target price (up from $55.00) on shares of General Motors in a research report on Friday, December 1st. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. General Motors presently has a consensus rating of “Hold” and an average target price of $44.08.

Shares of General Motors (GM) traded up $1.62 during trading hours on Tuesday, reaching $41.16. 4,303,775 shares of the company traded hands, compared to its average volume of 12,881,539. General Motors has a one year low of $31.92 and a one year high of $46.76. The stock has a market capitalization of $58,236.73, a price-to-earnings ratio of 21.26, a PEG ratio of 0.73 and a beta of 1.59. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.94 and a quick ratio of 0.79.

In other news, EVP Stefan Jacoby sold 37,961 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $42.87, for a total transaction of $1,627,388.07. Following the completion of the transaction, the executive vice president now directly owns 98,340 shares of the company’s stock, valued at $4,215,835.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Barry L. Engle II sold 50,443 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $43.08, for a total transaction of $2,173,084.44. Following the transaction, the insider now directly owns 57,091 shares of the company’s stock, valued at $2,459,480.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,847 shares of company stock valued at $7,363,108. Company insiders own 0.04% of the company’s stock.

Several large investors have recently modified their holdings of the company. Allegis Investment Advisors LLC raised its stake in shares of General Motors by 28.0% during the fourth quarter. Allegis Investment Advisors LLC now owns 19,045 shares of the auto manufacturer’s stock valued at $781,000 after acquiring an additional 4,169 shares during the last quarter. Fishman Jay A Ltd. MI raised its stake in shares of General Motors by 476.9% during the fourth quarter. Fishman Jay A Ltd. MI now owns 63,800 shares of the auto manufacturer’s stock valued at $2,615,000 after acquiring an additional 52,740 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in General Motors by 1.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 306,181 shares of the auto manufacturer’s stock worth $12,550,000 after buying an additional 4,389 shares in the last quarter. Asset Management Advisors LLC raised its stake in General Motors by 2.9% in the fourth quarter. Asset Management Advisors LLC now owns 171,754 shares of the auto manufacturer’s stock worth $7,040,000 after buying an additional 4,900 shares in the last quarter. Finally, WASHINGTON TRUST Co bought a new position in General Motors in the fourth quarter worth about $8,342,000. 72.49% of the stock is owned by hedge funds and other institutional investors.

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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.