General Motors Company (NYSE:GM) (TSE:GMM.U) received a $44.00 price objective from analysts at Piper Jaffray Companies in a research note issued to investors on Monday, October 16th. The brokerage currently has a “buy” rating on the auto manufacturer’s stock. Piper Jaffray Companies’ target price would indicate a potential downside of 2.76% from the company’s previous close.
Other equities research analysts have also issued reports about the company. UBS AG reiterated a “buy” rating and issued a $50.00 price objective (up from $39.00) on shares of General Motors in a research report on Wednesday, October 11th. Buckingham Research restated a “hold” rating on shares of General Motors in a research note on Thursday, August 24th. BidaskClub cut General Motors from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research cut General Motors from a “hold” rating to a “strong sell” rating in a research note on Monday, July 24th. Finally, Morgan Stanley restated an “overweight” rating and issued a $43.00 price target (up previously from $40.00) on shares of General Motors in a research note on Thursday, September 21st. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company. General Motors currently has an average rating of “Buy” and an average price target of $43.70.
Shares of General Motors (NYSE GM) opened at 45.25 on Monday. General Motors has a 52 week low of $30.21 and a 52 week high of $46.76. The firm has a market capitalization of $65.94 billion, a PE ratio of 7.87 and a beta of 1.45. The stock has a 50 day moving average of $41.89 and a 200-day moving average of $36.54.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.25. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The business had revenue of $30.48 billion for the quarter, compared to analyst estimates of $29.93 billion. During the same period last year, the company earned $1.72 EPS. General Motors’s revenue for the quarter was down 16.6% compared to the same quarter last year. Equities analysts anticipate that General Motors will post $6.26 earnings per share for the current fiscal year.
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In related news, insider Alicia S. Boler-Davis sold 10,000 shares of the stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $45.00, for a total value of $450,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jane L. Mendillo acquired 1,440 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was purchased at an average cost of $34.86 per share, for a total transaction of $50,198.40. Following the purchase, the director now owns 4,560 shares of the company’s stock, valued at $158,961.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 819,646 shares of company stock worth $31,188,377. Company insiders own 0.04% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Crossmark Global Holdings Inc. bought a new stake in General Motors during the 3rd quarter valued at $12,186,000. Regentatlantic Capital LLC boosted its position in General Motors by 3.5% during the 3rd quarter. Regentatlantic Capital LLC now owns 229,274 shares of the auto manufacturer’s stock valued at $9,258,000 after acquiring an additional 7,657 shares in the last quarter. Aperio Group LLC boosted its position in General Motors by 5.7% during the 3rd quarter. Aperio Group LLC now owns 1,115,003 shares of the auto manufacturer’s stock valued at $45,024,000 after acquiring an additional 60,337 shares in the last quarter. Steinberg Global Asset Management boosted its position in General Motors by 1.7% during the 3rd quarter. Steinberg Global Asset Management now owns 116,005 shares of the auto manufacturer’s stock valued at $4,684,000 after acquiring an additional 1,916 shares in the last quarter. Finally, Rathbone Brothers plc bought a new stake in General Motors during the 3rd quarter valued at $249,000. 72.50% of the stock is currently owned by institutional investors and hedge funds.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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