Barclays Boosts General Motors (NYSE:GM) Price Target to $64.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price target increased by stock analysts at Barclays from $60.00 to $64.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the auto manufacturer’s stock. Barclays‘s price target points to a potential upside of 32.40% from the company’s current price.

A number of other analysts have also issued reports on GM. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. Morgan Stanley downgraded shares of General Motors from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $47.00 to $42.00 in a report on Wednesday, September 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $54.00 price objective on shares of General Motors in a report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price objective on shares of General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $55.35.

General Motors Trading Down 0.6 %

Shares of GM traded down $0.29 during mid-day trading on Tuesday, hitting $48.34. The company had a trading volume of 4,354,979 shares, compared to its average volume of 15,107,428. The business’s 50-day simple moving average is $46.45 and its 200-day simple moving average is $45.83. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. General Motors has a 1-year low of $26.30 and a 1-year high of $50.50. The stock has a market cap of $55.15 billion, a PE ratio of 5.93, a P/E/G ratio of 0.56 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. The firm had revenue of $47.97 billion for the quarter, compared to analysts’ expectations of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. General Motors’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.91 earnings per share. Sell-side analysts forecast that General Motors will post 9.95 earnings per share for the current year.

Insider Buying and Selling at General Motors

In other news, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other General Motors news, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the transaction, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at $489,942.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Paul A. Jacobson bought 25,000 shares of General Motors stock in a transaction dated Friday, July 26th. The shares were bought at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On General Motors

Several large investors have recently bought and sold shares of GM. Strategic Investment Solutions Inc. IL acquired a new stake in General Motors during the second quarter worth 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 lifted its holdings 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 purchasing an additional 225 shares in the last quarter. 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 stake in General Motors during the second quarter worth $33,000. 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.