General Motors (NYSE:GM) (TSE:GMM.U) has been given a $52.00 price objective by stock analysts at Royal Bank of Canada in a research note issued to investors on Tuesday. The firm currently has a “buy” rating on the auto manufacturer’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 26.34% from the company’s previous close.
A number of other brokerages also recently weighed in on GM. Vetr downgraded General Motors from a “buy” rating to a “hold” rating and set a $43.99 target price on the stock. in a research note on Monday, November 13th. Zacks Investment Research cut shares of General Motors from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Cascend Securities cut shares of General Motors to a “buy” rating in a report on Tuesday, December 5th. Barclays reaffirmed a “buy” rating and issued a $61.00 price target on shares of General Motors in a report on Tuesday, January 9th. Finally, Goldman Sachs Group cut shares of General Motors from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $43.16 to $32.00 in a report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $44.08.
Shares of General Motors (NYSE:GM) traded up $1.62 during midday trading on Tuesday, hitting $41.16. The stock had a trading volume of 4,303,775 shares, compared to its average volume of 12,881,539. General Motors has a 12-month low of $31.92 and a 12-month high of $46.76. The stock has a market cap of $58,236.73, a P/E 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.
Hedge funds have recently modified their holdings of the business. Macquarie Group Ltd. grew its position in shares of General Motors by 11.0% during the 2nd quarter. Macquarie Group Ltd. now owns 79,000 shares of the auto manufacturer’s stock valued at $2,759,000 after purchasing an additional 7,800 shares in the last quarter. Assetmark Inc. grew its position in shares of General Motors by 40.3% during the 2nd quarter. Assetmark Inc. now owns 464,901 shares of the auto manufacturer’s stock valued at $16,239,000 after purchasing an additional 133,463 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of General Motors by 14.8% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 182,641 shares of the auto manufacturer’s stock valued at $6,380,000 after purchasing an additional 23,608 shares in the last quarter. Bank of Nova Scotia grew its position in shares of General Motors by 195.7% during the 2nd quarter. Bank of Nova Scotia now owns 775,940 shares of the auto manufacturer’s stock valued at $27,103,000 after purchasing an additional 513,505 shares in the last quarter. Finally, Psagot Investment House Ltd. grew its position in shares of General Motors by 2.7% during the 2nd quarter. Psagot Investment House Ltd. now owns 49,340 shares of the auto manufacturer’s stock valued at $1,723,000 after purchasing an additional 1,300 shares in the last quarter. 72.49% of the stock is currently owned by institutional investors and hedge funds.
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.
