Sanford C. Bernstein Initiates Coverage on General Motors (NYSE:GM)

Equities researchers at Sanford C. Bernstein initiated coverage on shares of General Motors (NYSE:GM) (TSE:GMM.U) in a research note issued to investors on Thursday, Briefing.com reports. The firm set an “outperform” rating and a $55.00 price target on the auto manufacturer’s stock. Sanford C. Bernstein’s price target points to a potential upside of 22.03% from the company’s current price.

Several other equities research analysts have also weighed in on GM. Wells Fargo & Company increased their price objective on shares of General Motors from $28.00 to $30.00 and gave the stock an “underweight” rating in a research note on Wednesday. Mizuho increased their price objective on shares of General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada increased their price objective on shares of General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday. Tigress Financial increased their price objective on shares of General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 15th. Finally, Redburn Atlantic began coverage on shares of General Motors in a research note on Wednesday, January 24th. They set a “neutral” rating and a $40.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.38.

General Motors Stock Down 0.1 %

Shares of General Motors stock opened at $45.07 on Thursday. The company has a fifty day moving average price of $42.00 and a 200 day moving average price of $36.12. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22. General Motors has a twelve month low of $26.30 and a twelve month high of $46.04. The stock has a market cap of $52.03 billion, a price-to-earnings ratio of 5.51, a price-to-earnings-growth ratio of 0.53 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The firm had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. During the same quarter in the previous year, the business posted $2.21 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. Equities research analysts forecast that General Motors will post 9.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Rory Harvey sold 5,100 shares of the company’s 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 transaction, the executive vice president now directly owns 12,658 shares in the company, valued at $544,800.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Rory Harvey sold 5,100 shares of the company’s 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 transaction, the executive vice president now directly owns 12,658 shares in the company, valued at $544,800.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $528,706.24. Following the sale, the executive vice president now owns 87,567 shares in the company, valued at $3,348,562.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB raised its holdings in General Motors by 18.5% in the 4th quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock valued at $17,064,000 after buying an additional 74,194 shares during the last quarter. Cerity Partners LLC raised its holdings in General Motors by 361.1% in the 4th quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock valued at $4,300,000 after buying an additional 93,754 shares during the last quarter. Foundry Partners LLC raised its holdings in General Motors by 15.0% in the 3rd quarter. Foundry Partners LLC now owns 394,047 shares of the auto manufacturer’s stock valued at $12,992,000 after buying an additional 51,336 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in General Motors by 10.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 147,383 shares of the auto manufacturer’s stock valued at $4,859,000 after buying an additional 14,002 shares during the last quarter. Finally, AM Squared Ltd raised its holdings in General Motors by 195.0% in the 4th quarter. AM Squared Ltd now owns 41,300 shares of the auto manufacturer’s stock valued at $1,483,000 after buying an additional 27,300 shares during the last quarter. 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.