General Motors (NYSE:GM) Price Target Raised to $55.00 at Wedbush

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective increased by stock analysts at Wedbush from $45.00 to $55.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the auto manufacturer’s stock. Wedbush’s price target would suggest a potential upside of 21.95% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. The Goldman Sachs Group boosted their price objective on General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Barclays boosted their price objective on General Motors from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Wolfe Research raised General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research note on Thursday, January 4th. Tigress Financial boosted their target price on General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 15th. Finally, Morgan Stanley boosted their target price on General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.29.

General Motors Trading Up 4.4 %

Shares of GM stock opened at $45.10 on Wednesday. General Motors has a 12-month low of $26.30 and a 12-month high of $46.04. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21. The stock’s 50-day moving average price is $41.86 and its 200-day moving average price is $36.06. The stock has a market capitalization of $52.06 billion, a price-to-earnings ratio of 6.17, a price-to-earnings-growth ratio of 0.51 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.60. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The firm had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. During the same period in the previous year, the firm posted $2.21 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. Equities research analysts predict that General Motors will post 9.12 EPS for the current fiscal year.

Insider Transactions at General Motors

In other news, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value 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 $3,348,562.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the transaction, the executive vice president now owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christopher Hatto sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the sale, the chief accounting officer now owns 12,007 shares in the company, valued at approximately $540,315. The disclosure for this sale can be found here. Insiders sold 86,248 shares of company stock valued at $3,614,078 over the last quarter. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On General Motors

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SouthState Corp boosted 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 acquiring an additional 485 shares in the last quarter. Highlander Capital Management LLC bought a new stake in shares of General Motors during the 4th quarter worth $27,000. Cape Investment Advisory Inc. lifted its holdings in shares of General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after purchasing an additional 359 shares in the last quarter. BluePath Capital Management LLC purchased a new stake in shares of General Motors in the third quarter valued at $33,000. Finally, Sachetta LLC purchased a new stake in shares of General Motors in the fourth quarter valued at $33,000. 92.67% of the stock is owned by institutional investors.

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.