Wells Fargo & Company Forecasts Strong Price Appreciation for General Motors (NYSE:GM) Stock

General Motors (NYSE:GM) (TSE:GMM.U) had its price target raised by research analysts at Wells Fargo & Company from $46.00 to $48.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the auto manufacturer’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 40.62% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Tigress Financial lifted their price target on General Motors from $88.00 to $92.00 and gave the company a “strong-buy” rating in a research note on Friday, October 24th. Citigroup raised their price objective on General Motors from $75.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Morgan Stanley upgraded General Motors from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $54.00 to $90.00 in a research report on Monday. Mizuho set a $76.00 target price on General Motors in a research note on Wednesday, October 22nd. Finally, Piper Sandler set a $66.00 price target on shares of General Motors and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, General Motors has an average rating of “Moderate Buy” and a consensus price target of $73.57.

General Motors Price Performance

Shares of NYSE:GM opened at $80.84 on Tuesday. The firm has a 50 day moving average of $67.49 and a 200-day moving average of $58.60. General Motors has a 12 month low of $41.60 and a 12 month high of $80.95. The company has a current ratio of 1.23, a quick ratio of 1.06 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $75.41 billion, a PE ratio of 16.26, a PEG ratio of 0.88 and a beta of 1.30.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.48. General Motors had a net margin of 1.62% and a return on equity of 12.29%. The business had revenue of $48.59 billion for the quarter, compared to analyst estimates of $44.60 billion. During the same quarter last year, the business posted $2.96 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. On average, equities research analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

Insider Activity

In other General Motors news, President Mark L. Reuss sold 260,600 shares of the company’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $66.45, for a total value of $17,316,870.00. Following the transaction, the president directly owned 98,006 shares in the company, valued at $6,512,498.70. This represents a 72.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rory Harvey sold 6,600 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $61.95, for a total transaction of $408,870.00. Following the completion of the transaction, the executive vice president owned 8,513 shares in the company, valued at approximately $527,380.35. This trade represents a 43.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,288,534 shares of company stock worth $79,253,568. Insiders own 0.54% of the company’s stock.

Institutional Trading of General Motors

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Steigerwald Gordon & Koch Inc. bought a new stake in shares of General Motors in the 3rd quarter worth approximately $29,000. Kelleher Financial Advisors purchased a new position in General Motors in the 3rd quarter worth $29,000. Trust Co. of Toledo NA OH bought a new stake in General Motors in the second quarter worth $25,000. JPL Wealth Management LLC bought a new stake in General Motors in the third quarter worth $32,000. Finally, GFG Capital LLC purchased a new stake in General Motors during the second quarter valued at about $27,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

About General Motors

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.