Citigroup Raises General Motors (NYSE:GM) Price Target to $96.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective boosted by analysts at Citigroup from $95.00 to $96.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the auto manufacturer’s stock. Citigroup’s price objective would suggest a potential upside of 113.00% from the company’s current price.

Several other equities research analysts have also recently issued reports on GM. Mizuho boosted 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. The Goldman Sachs Group boosted their price target on General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. TheStreet upgraded General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. Redburn Atlantic initiated coverage on General Motors in a research note on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 price target for the company. Finally, Piper Sandler boosted their price objective on shares of General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.35.

General Motors Stock Performance

General Motors stock traded down $0.03 during midday trading on Wednesday, reaching $45.07. 9,602,943 shares of the company’s stock were exchanged, compared to its average volume of 17,486,021. General Motors has a 52 week low of $26.30 and a 52 week high of $46.04. The firm has a market cap of $52.03 billion, a price-to-earnings ratio of 6.17, a P/E/G ratio of 0.51 and a beta of 1.51. The stock’s 50-day simple moving average is $41.86 and its 200 day simple moving average is $36.06. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 1.08.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The company had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same quarter in the previous year, the company posted $2.21 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. On average, analysts expect that General Motors will post 9.12 earnings per share for the current fiscal year.

Insider Transactions at General Motors

In related news, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the sale, the executive vice president now owns 87,567 shares in the company, valued at approximately $3,348,562.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other General Motors news, EVP Rory Harvey sold 5,100 shares of the stock in a transaction dated Thursday, March 21st. The shares were 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 owns 12,658 shares in the company, valued at approximately $544,800.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The disclosure for this sale can be found here. Insiders have sold 86,248 shares of company stock valued at $3,614,078 in the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On General Motors

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SouthState Corp increased its stake in shares of General Motors by 173.8% during the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after purchasing an additional 485 shares during the last quarter. Highlander Capital Management LLC bought a new position in General Motors in the 4th quarter worth approximately $27,000. Cape Investment Advisory Inc. boosted its holdings in General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after buying an additional 359 shares during the period. BluePath Capital Management LLC bought a new position in General Motors in the 3rd quarter worth approximately $33,000. Finally, Sachetta LLC bought a new position in General Motors in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

About General Motors

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.