General Motors (NYSE:GM) Price Target Lowered to $58.00 at Royal Bank of Canada

General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) had its target price reduced by investment analysts at Royal Bank of Canada from $70.00 to $58.00 in a research note issued to investors on Wednesday, The Fly reports. Royal Bank of Canada’s price target indicates a potential upside of 51.36% from the company’s current price.

GM has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Motors from $75.00 to $56.00 and set a “buy” rating on the stock in a research note on Thursday, April 21st. Zacks Investment Research raised shares of General Motors from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Wednesday, December 29th. Benchmark reduced their price target on shares of General Motors from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, March 11th. Morgan Stanley reduced their price target on shares of General Motors from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 22nd. Finally, Wolfe Research boosted their price target on shares of General Motors from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, March 21st. Six research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $65.62.

GM stock traded up $0.28 during trading on Wednesday, reaching $38.32. 376,091 shares of the stock were exchanged, compared to its average volume of 19,791,990. 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 business has a 50 day moving average price of $43.04 and a 200-day moving average price of $52.49. General Motors has a 1 year low of $37.60 and a 1 year high of $67.21. The firm has a market capitalization of $55.68 billion, a price-to-earnings ratio of 5.72, a P/E/G ratio of 0.62 and a beta of 1.18.

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

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

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. NuWave Investment Management LLC purchased a new position in General Motors during the 4th quarter worth $28,000. FSB Premier Wealth Management Inc. purchased a new position in General Motors during the 4th quarter worth $28,000. Sandy Cove Advisors LLC purchased a new position in General Motors during the 4th quarter worth $30,000. Liberty Wealth Management LLC grew its position in General Motors by 50.1% during the 3rd quarter. Liberty Wealth Management LLC now owns 518 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 173 shares during the last quarter. Finally, Hanson & Doremus Investment Management grew its position in General Motors by 793.7% during the 4th quarter. Hanson & Doremus Investment Management now owns 563 shares of the auto manufacturer’s stock worth $33,000 after purchasing an additional 500 shares during the last quarter. 80.50% of the stock is currently owned by hedge funds and other institutional investors.

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.

See Also