General Motors (NYSE:GM) Coverage Initiated at Sanford C. Bernstein

Equities research analysts at Sanford C. Bernstein started coverage on shares of General Motors (NYSE:GM) (TSE:GMM.U) in a note issued to investors on Thursday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $55.00 price target on the auto manufacturer’s stock. Sanford C. Bernstein’s target price indicates a potential upside of 20.03% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Mizuho raised their target price on shares of General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday. Royal Bank of Canada upped their price target on General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised their price objective on General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, Citigroup boosted their target price on General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, General Motors currently has an average rating of “Moderate Buy” and an average price target of $54.65.

General Motors Stock Up 0.4 %

General Motors stock opened at $45.82 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The firm has a market cap of $52.28 billion, a P/E ratio of 5.60, a P/E/G ratio of 0.52 and a beta of 1.51. The business has a fifty day moving average of $42.27 and a two-hundred day moving average of $36.29. General Motors has a twelve month low of $26.30 and a twelve month high of $46.17.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same period in the prior year, the business posted $2.21 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. On average, analysts forecast that General Motors will post 9.44 earnings per share for the current fiscal year.

Insider Activity at General Motors

In related news, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the transaction, the executive vice president now owns 87,567 shares in the company, valued at approximately $3,348,562.08. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the transaction, the executive vice president now directly owns 87,567 shares in the company, valued at $3,348,562.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gerald Johnson sold 27,122 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the sale, the executive vice president now directly owns 71,506 shares in the company, valued at $3,236,361.56. The disclosure for this sale can be found here. Insiders have sold a total of 86,248 shares of company stock worth $3,614,078 over the last quarter. 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 stock. Pinnacle Associates Ltd. boosted its position in General Motors by 1.7% in the 1st quarter. Pinnacle Associates Ltd. now owns 42,478 shares of the auto manufacturer’s stock worth $1,926,000 after purchasing an additional 725 shares in the last quarter. LifeSteps Financial Inc. acquired a new position in shares of General Motors in the 1st quarter valued at $25,000. YHB Investment Advisors Inc. acquired a new position in shares of General Motors in the 1st quarter valued at $32,000. ZWJ Investment Counsel Inc. boosted its holdings in General Motors by 5.5% during the first quarter. ZWJ Investment Counsel Inc. now owns 374,439 shares of the auto manufacturer’s stock worth $16,981,000 after buying an additional 19,375 shares in the last quarter. Finally, Clear Creek Financial Management LLC grew its position in General Motors by 14.5% during the first quarter. Clear Creek Financial Management LLC now owns 9,475 shares of the auto manufacturer’s stock valued at $424,000 after buying an additional 1,198 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Company Profile

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.