General Motors (GM) Lifted to “Buy” at Zacks Investment Research

General Motors (NYSE:GM) (TSE:GMM.U) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $46.00 target price on the auto manufacturer’s stock. Zacks Investment Research‘s target price points to a potential upside of 10.34% from the company’s previous close.

According to Zacks, “General Motors reported fourth-quarter 2017 adjusted earnings per share of $1.65, beating the Zacks Consensus Estimate of $1.34.During the quarter, revenues also surpassed the the Zacks Consensus Estimate.For any fourth quarter, adjusted EBIT set a record. This was aided by sales of crossovers, strong pricing and cost-control initiatives, which were partly offset by a wholesale volume decline. Also, the company outperformed the industry it belongs to over the last six months. The company’s capital allocation strategy, initiatives to make its vehicles more advanced, safer and fuel efficient and focus on technology development are likely to benefit. Its restructuring activities are also expected to benefit in the long run. Also, the company is raising investment in emerging markets to boost global sales. Howrver, weak used car pricing, a challenging pricing environment as well as more pressure on commodity costs are headwinds before it.”

Other equities research analysts have also recently issued reports about the stock. Evercore ISI raised their target price on shares of General Motors from $40.00 to $41.38 in a research report on Friday, December 29th. Vetr raised shares of General Motors from a “hold” rating to a “buy” rating and set a $43.99 target price for the company in a research report on Monday, November 6th. Deutsche Bank reaffirmed a “buy” rating on shares of General Motors in a research report on Friday, November 17th. Piper Jaffray Companies set a $51.00 price target on shares of General Motors and gave the company a “buy” rating in a research report on Tuesday, October 24th. Finally, Guggenheim raised shares of General Motors from a “neutral” rating to a “buy” rating and set a $37.00 target price for the company in a report on Monday, November 20th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. General Motors currently has an average rating of “Hold” and an average price target of $44.44.

Shares of General Motors (NYSE GM) traded up $0.29 during trading on Wednesday, reaching $41.69. 4,213,277 shares of the company’s stock were exchanged, compared to its average volume of 14,109,309. The company has a market cap of $59,230.00, a price-to-earnings ratio of 8.10, a PEG ratio of 0.67 and a beta of 1.59. General Motors has a 1-year low of $31.92 and a 1-year high of $46.76. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.76 and a current ratio of 0.89.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, February 6th. The auto manufacturer reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.31. The business had revenue of $34.48 billion for the quarter, compared to analyst estimates of $34.28 billion. General Motors had a negative net margin of 2.58% and a positive return on equity of 22.86%. The company’s revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 EPS. sell-side analysts expect that General Motors will post 6.25 earnings per share for the current year.

In other General Motors news, CFO Charles K. Stevens III sold 35,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $40.88, for a total transaction of $1,430,800.00. Following the transaction, the chief financial officer now owns 26,052 shares in the company, valued at $1,065,005.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stefan Jacoby sold 37,961 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now owns 98,340 shares in the company, valued at approximately $4,215,835.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 203,847 shares of company stock worth $8,793,908. 0.04% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of GM. 1st Global Advisors Inc. grew its holdings in General Motors by 1.9% during the 4th quarter. 1st Global Advisors Inc. now owns 7,925 shares of the auto manufacturer’s stock worth $270,000 after acquiring an additional 148 shares in the last quarter. Piedmont Investment Advisors LLC lifted its position in shares of General Motors by 0.9% during the fourth quarter. Piedmont Investment Advisors LLC now owns 354,887 shares of the auto manufacturer’s stock valued at $12,070,000 after buying an additional 3,138 shares during the last quarter. American National Bank lifted its position in shares of General Motors by 52.7% during the fourth quarter. American National Bank now owns 105,720 shares of the auto manufacturer’s stock valued at $3,596,000 after buying an additional 36,467 shares during the last quarter. Bank of The West lifted its position in shares of General Motors by 3.7% during the fourth quarter. Bank of The West now owns 73,854 shares of the auto manufacturer’s stock valued at $2,512,000 after buying an additional 2,631 shares during the last quarter. Finally, Oakbrook Investments LLC lifted its position in shares of General Motors by 24.0% during the fourth quarter. Oakbrook Investments LLC now owns 116,090 shares of the auto manufacturer’s stock valued at $3,948,000 after buying an additional 22,440 shares during the last quarter. Institutional investors and hedge funds own 73.38% of the company’s stock.

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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.

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