TD Cowen Forecasts Strong Price Appreciation for General Motors (NYSE:GM) Stock

General Motors (NYSE:GM) (TSE:GMM.U) had its price target increased by analysts at TD Cowen from $92.00 to $100.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the auto manufacturer’s stock. TD Cowen’s target price indicates a potential upside of 49.66% from the company’s previous close.

Several other research firms also recently weighed in on GM. Royal Bank Of Canada lifted their target price on General Motors from $77.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday. Jefferies Financial Group boosted their price objective on shares of General Motors from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Monday, October 6th. CLSA upgraded shares of General Motors to a “moderate buy” rating in a research note on Monday, July 7th. UBS Group lifted their price target on shares of General Motors from $81.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Piper Sandler set a $66.00 price target on General Motors and gave the company a “neutral” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $68.95.

General Motors Stock Down 0.7%

Shares of NYSE GM opened at $66.82 on Wednesday. General Motors has a 1 year low of $41.60 and a 1 year high of $68.48. The firm has a 50-day simple moving average of $58.81 and a two-hundred day simple moving average of $52.61. The company has a market cap of $62.33 billion, a P/E ratio of 13.44, a PEG ratio of 1.67 and a beta of 1.33. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.23 and a quick ratio of 1.05.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.48. General Motors had a return on equity of 12.29% and a net margin of 1.62%.The firm had revenue of $48.59 billion for the quarter, compared to the consensus estimate of $44.60 billion. During the same period in the prior year, the business posted $2.96 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. Research analysts anticipate that General Motors will post 11.44 earnings per share for the current year.

Insider Buying and Selling at General Motors

In other news, CAO Christopher Hatto sold 36,804 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $55.10, for a total value of $2,027,900.40. Following the completion of the transaction, the chief accounting officer directly owned 12,007 shares of the company’s stock, valued at approximately $661,585.70. The trade was a 75.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 23,977 shares of the company’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total value of $1,271,020.77. Following the sale, the executive vice president owned 8,513 shares of the company’s stock, valued at $451,274.13. This trade represents a 73.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,074,824 shares of company stock valued at $122,377,213. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On General Motors

Large investors have recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. bought a new stake in shares of General Motors in the 3rd quarter valued at about $29,000. Trust Co. of Toledo NA OH purchased a new stake in General Motors during the second quarter valued at approximately $25,000. GFG Capital LLC acquired a new stake in General Motors in the second quarter valued at approximately $27,000. Armstrong Advisory Group Inc. grew its holdings in General Motors by 94.6% in the third quarter. Armstrong Advisory Group Inc. now owns 545 shares of the auto manufacturer’s stock worth $33,000 after purchasing an additional 265 shares during the last quarter. Finally, RMG Wealth Management LLC purchased a new position in General Motors in the second quarter worth $32,000. 92.67% of the stock is currently 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.