General Motors (NYSE:GM) Coverage Initiated at TD Cowen

Research analysts at TD Cowen initiated coverage on shares of General Motors (NYSE:GM) (TSE:GMM.U) in a research report issued on Friday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $105.00 price target on the auto manufacturer’s stock. TD Cowen’s price target would suggest a potential upside of 122.69% from the company’s current price.

Other analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and upped their price objective for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a research report on Wednesday, December 11th. Finally, Mizuho raised their target price on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $62.22.

General Motors Stock Performance

GM opened at $47.15 on Friday. General Motors has a 12-month low of $38.94 and a 12-month high of $61.24. The firm has a market capitalization of $46.92 billion, a P/E ratio of 7.67, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The stock’s 50 day moving average price is $49.84 and its two-hundred day moving average price is $50.43. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. On average, equities analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its board has initiated a share repurchase program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at General Motors

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was bought at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of General Motors

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in shares of General Motors during the 4th quarter worth about $25,000. Crews Bank & Trust acquired a new position in shares of General Motors in the 4th quarter valued at approximately $26,000. Measured Risk Portfolios Inc. acquired a new position in shares of General Motors in the 4th quarter valued at approximately $27,000. Compass Planning Associates Inc acquired a new position in shares of General Motors in the 4th quarter valued at approximately $27,000. Finally, Whittier Trust Co. grew its position in shares of General Motors by 551.9% in the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 425 shares during the period. 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.