Berenberg Bank Initiates Coverage on General Motors (NYSE:GM)

Berenberg Bank assumed coverage on shares of General Motors (NYSE:GMGet Rating) (TSE:GMM.U) in a note issued to investors on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $55.00 price target on the auto manufacturer’s stock. Berenberg Bank’s price objective would suggest a potential upside of 43.75% from the stock’s previous close.

GM has been the subject of several other research reports. Barclays cut their price target on shares of General Motors from $59.00 to $52.00 in a report on Wednesday, April 27th. Jefferies Financial Group cut their price target on shares of General Motors from $53.00 to $44.00 and set a “hold” rating for the company in a report on Tuesday, March 15th. Wolfe Research boosted their price target on shares of General Motors from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, March 21st. StockNews.com began coverage on shares of General Motors in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of General Motors from $75.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, April 21st. Six equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $65.14.

NYSE:GM opened at $38.26 on Tuesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.11 and a quick ratio of 0.93. The firm has a market cap of $55.79 billion, a price-to-earnings ratio of 6.34, a price-to-earnings-growth ratio of 0.58 and a beta of 1.20. The company has a 50 day moving average price of $41.61 and a 200-day moving average price of $51.27. General Motors has a 1-year low of $37.25 and a 1-year high of $67.21.

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) last posted its earnings results on Tuesday, April 26th. The auto manufacturer reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.53. The firm had revenue of $35.98 billion during the quarter, compared to analyst estimates of $36.25 billion. General Motors had a net margin of 7.61% and a return on equity of 16.37%. During the same period in the previous year, the firm earned $2.25 EPS. On average, sell-side analysts anticipate that General Motors will post 6.98 earnings per share for the current fiscal year.

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

A number of large investors have recently modified their holdings of GM. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of General Motors during the first quarter worth approximately $26,000. Liberty Wealth Management LLC increased its stake in General Motors by 50.1% in the third quarter. Liberty Wealth Management LLC now owns 518 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 173 shares during the last quarter. SJS Investment Consulting Inc. increased its stake in General Motors by 220.2% in the first quarter. SJS Investment Consulting Inc. now owns 602 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 414 shares during the last quarter. NuWave Investment Management LLC purchased a new position in General Motors in the fourth quarter valued at approximately $28,000. Finally, FSB Premier Wealth Management Inc. purchased a new position in General Motors in the fourth quarter valued at approximately $28,000. Institutional investors own 82.66% of the company’s stock.

General Motors Company Profile (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.

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