General Motors (NYSE:GM) Price Target Raised to $62.00 at UBS Group

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective increased by stock analysts at UBS Group from $58.00 to $62.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the auto manufacturer’s stock. UBS Group’s price objective would suggest a potential upside of 16.52% from the stock’s previous close.

A number of other research firms also recently weighed in on GM. Nomura Securities raised shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. Royal Bank of Canada restated an “outperform” rating and set a $54.00 target price on shares of General Motors in a research note on Wednesday, October 9th. The Goldman Sachs Group raised their target price on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Wells Fargo & Company raised their target price on shares of General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $53.00 target price on shares of General Motors in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $56.01.

General Motors Stock Down 1.0 %

Shares of GM stock traded down $0.52 during trading hours on Wednesday, hitting $53.21. 6,102,561 shares of the company were exchanged, compared to its average volume of 15,133,953. The business has a 50 day moving average of $47.33 and a two-hundred day moving average of $46.04. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. General Motors has a 52 week low of $26.30 and a 52 week high of $54.19. The company has a market capitalization of $60.71 billion, a PE ratio of 6.50, a PEG ratio of 0.56 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter in the prior year, the firm earned $2.28 earnings per share. The firm’s revenue was up 10.5% compared to the same quarter last year. Analysts anticipate that General Motors will post 9.95 earnings per share for the current fiscal year.

Insider Activity at General Motors

In other General Motors news, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $417,307.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Paul A. Jacobson bought 25,000 shares of General Motors stock in a transaction dated Friday, July 26th. The stock was purchased at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the purchase, the chief financial officer now directly owns 261,872 shares in the company, valued at $11,551,173.92. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On General Motors

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GM. Strategic Investment Solutions Inc. IL bought a new position in shares of General Motors in the second quarter valued at approximately $25,000. Wellington Shields Capital Management LLC bought a new position in shares of General Motors in the second quarter valued at approximately $28,000. Fortitude Family Office LLC boosted its position in shares of General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after acquiring an additional 225 shares during the period. Montag A & Associates Inc. bought a new position in shares of General Motors in the first quarter valued at approximately $30,000. Finally, EdgeRock Capital LLC bought a new position in shares of General Motors in the second quarter valued at approximately $33,000. Institutional investors own 92.67% of the company’s stock.

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.