General Motors (NYSE:GM) Raised to Buy at StockNews.com

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other brokerages have also recently commented on GM. Wedbush increased their price target on General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Morgan Stanley increased their price target on General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. UBS Group increased their price target on General Motors from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Mizuho increased their price target on General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada increased their price target on General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $54.65.

Read Our Latest Analysis on GM

General Motors Stock Up 3.7 %

NYSE GM opened at $45.01 on Friday. The business has a fifty day moving average price of $44.43 and a two-hundred day moving average price of $39.04. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $46.17. The stock has a market capitalization of $51.35 billion, a PE ratio of 5.50, a PEG ratio of 0.50 and a beta of 1.49.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last released its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping the consensus estimate 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 company earned $2.21 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. Equities analysts expect that General Motors will post 9.4 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Rory Harvey sold 5,100 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $43.04, for a total value of $219,504.00. Following the completion of the sale, the executive vice president now directly owns 12,658 shares in the company, valued at approximately $544,800.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other General Motors news, EVP Rory Harvey sold 5,100 shares of General Motors stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $43.04, for a total transaction of $219,504.00. Following the completion of the transaction, the executive vice president now owns 12,658 shares in the company, valued at approximately $544,800.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Christopher Hatto sold 6,000 shares of General Motors stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $42.01, for a total value of $252,060.00. Following the transaction, the chief accounting officer now owns 15,507 shares of the company’s stock, valued at approximately $651,449.07. The disclosure for this sale can be found here. Insiders sold a total of 818,038 shares of company stock worth $35,592,299 in the last three months. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On General Motors

A number of hedge funds and other institutional investors have recently modified their holdings of GM. Norges Bank purchased a new position in shares of General Motors in the 4th quarter worth approximately $602,280,000. Capital World Investors raised its holdings in shares of General Motors by 14.6% in the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after purchasing an additional 6,201,777 shares during the period. Acadian Asset Management LLC raised its holdings in shares of General Motors by 454.3% in the 3rd quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer’s stock worth $171,961,000 after purchasing an additional 4,275,293 shares during the period. Swedbank AB bought a new stake in shares of General Motors in the 1st quarter worth approximately $159,750,000. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in shares of General Motors by 21.9% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after purchasing an additional 3,247,050 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Company Profile

(Get Free Report)

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.

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