General Motors (NYSE:GM) (TSE:GMM.U) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage presently has a $46.00 price objective on the auto manufacturer’s stock. Zacks Investment Research‘s price objective points to a potential upside of 10.34% from the stock’s current price.
According to Zacks, “General Motors reported fourth-quarter 2017 adjusted earnings per share of $1.65, beating the Zacks Consensus Estimate of $1.34.During the quarter, revenues also surpassed the the Zacks Consensus Estimate.For any fourth quarter, adjusted EBIT set a record. This was aided by sales of crossovers, strong pricing and cost-control initiatives, which were partly offset by a wholesale volume decline. Also, the company outperformed the industry it belongs to over the last six months. The company’s capital allocation strategy, initiatives to make its vehicles more advanced, safer and fuel efficient and focus on technology development are likely to benefit. Its restructuring activities are also expected to benefit in the long run. Also, the company is raising investment in emerging markets to boost global sales. Howrver, weak used car pricing, a challenging pricing environment as well as more pressure on commodity costs are headwinds before it.”
Several other equities research analysts have also recently weighed in on GM. Morgan Stanley upped their target price on General Motors from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Berenberg Bank set a $34.00 target price on General Motors and gave the stock a “sell” rating in a research note on Wednesday, February 7th. Vetr upgraded General Motors from a “sell” rating to a “hold” rating and set a $40.24 target price for the company in a research note on Monday, February 5th. Royal Bank of Canada set a $52.00 target price on General Motors and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Finally, Bank of America upped their target price on General Motors from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. General Motors currently has an average rating of “Hold” and a consensus target price of $44.44.
General Motors (NYSE:GM) traded up $0.29 during midday trading on Wednesday, reaching $41.69. The company’s stock had a trading volume of 4,213,277 shares, compared to its average volume of 14,109,309. The company has a quick ratio of 0.76, a current ratio of 0.89 and a debt-to-equity ratio of 1.86. General Motors has a 12-month low of $31.92 and a 12-month high of $46.76. The company has a market capitalization of $59,230.00, a PE ratio of 8.10, a PEG ratio of 0.67 and a beta of 1.59.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, February 6th. The auto manufacturer reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.31. General Motors had a positive return on equity of 22.86% and a negative net margin of 2.58%. The firm had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $34.28 billion. During the same period in the prior year, the company earned $1.28 earnings per share. The company’s quarterly revenue was down 7.7% on a year-over-year basis. equities research analysts expect that General Motors will post 6.25 earnings per share for the current year.
In related news, insider Barry L. Engle II sold 50,443 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $43.08, for a total value of $2,173,084.44. Following the completion of the sale, the insider now directly owns 57,091 shares in the company, valued at $2,459,480.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Charles K. Stevens III sold 35,000 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $40.88, for a total value of $1,430,800.00. Following the completion of the sale, the chief financial officer now owns 26,052 shares of the company’s stock, valued at $1,065,005.76. The disclosure for this sale can be found here. Insiders have sold 203,847 shares of company stock valued at $8,793,908 over the last quarter. Company insiders own 0.04% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of GM. Icon Wealth Partners LLC acquired a new stake in General Motors in the fourth quarter valued at $106,000. Fieldpoint Private Securities LLC acquired a new stake in General Motors in the third quarter valued at $119,000. Cerebellum GP LLC acquired a new stake in General Motors in the fourth quarter valued at $123,000. Independence Bank of Kentucky acquired a new stake in General Motors in the fourth quarter valued at $129,000. Finally, Stumpf Capital Management LLC bought a new stake in General Motors during the fourth quarter valued at $131,000. Institutional investors and hedge funds own 73.38% of the company’s stock.
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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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