General Motors (NYSE:GM) Given New $52.00 Price Target at Barclays

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) had its target price cut by investment analysts at Barclays from $59.00 to $52.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Barclays‘s price target would suggest a potential upside of 36.70% from the company’s current price.

A number of other equities analysts have also recently weighed in on GM. Nomura dropped their price target on General Motors from $66.00 to $56.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 9th. JPMorgan Chase & Co. dropped their price target on General Motors from $75.00 to $71.00 in a research note on Monday. StockNews.com initiated coverage on General Motors in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Nomura Instinet reissued a “neutral” rating and issued a $56.00 price target (down previously from $66.00) on shares of General Motors in a research note on Wednesday, February 9th. Finally, Citigroup lifted their price target on General Motors from $95.00 to $98.00 in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $66.90.

Shares of General Motors stock opened at $38.04 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 0.93 and a debt-to-equity ratio of 1.15. The company’s 50-day moving average price is $43.04 and its two-hundred day moving average price is $52.49. General Motors has a 52 week low of $37.60 and a 52 week high of $67.21. The stock has a market cap of $55.27 billion, a PE ratio of 5.67, a price-to-earnings-growth ratio of 0.62 and a beta of 1.18.

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, February 1st. The auto manufacturer reported $1.35 EPS for the quarter, topping the consensus estimate of $1.15 by $0.20. General Motors had a net margin of 7.89% and a return on equity of 17.66%. The firm had revenue of $33.58 billion for the quarter, compared to analysts’ expectations of $34.24 billion. During the same period in the previous year, the business earned $1.93 earnings per share. General Motors’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, equities analysts predict that General Motors will post 6.7 EPS for the current fiscal year.

In related news, EVP Julian G. Blissett sold 21,742 shares of the business’s stock in a transaction that occurred on Wednesday, February 16th. The stock was sold at an average price of $50.04, for a total value of $1,087,969.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patricia F. Russo bought 6,000 shares of General Motors stock in a transaction that occurred on Thursday, February 10th. The stock was bought at an average price of $50.61 per share, with a total value of $303,660.00. The disclosure for this purchase can be found here. Insiders own 0.40% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in shares of General Motors by 4.4% during the third quarter. BlackRock Inc. now owns 117,168,238 shares of the auto manufacturer’s stock worth $6,175,936,000 after buying an additional 4,900,052 shares during the last quarter. State Street Corp lifted its holdings in shares of General Motors by 2.8% during the fourth quarter. State Street Corp now owns 59,828,001 shares of the auto manufacturer’s stock worth $3,507,716,000 after buying an additional 1,636,288 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of General Motors by 4.9% during the fourth quarter. Invesco Ltd. now owns 33,568,028 shares of the auto manufacturer’s stock worth $1,968,092,000 after buying an additional 1,572,694 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of General Motors by 14.4% during the third quarter. Geode Capital Management LLC now owns 23,039,545 shares of the auto manufacturer’s stock worth $1,210,941,000 after buying an additional 2,891,781 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of General Motors by 6.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 14,961,033 shares of the auto manufacturer’s stock worth $788,596,000 after buying an additional 923,494 shares during the last quarter. Hedge funds and other institutional investors own 80.50% of the company’s stock.

About General Motors (Get Rating)

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts and accessories in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China. The company operates through GM North America, GM International, Cruise, and GM Financial segments.

Read More

The Fly logo

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.