Royal Bank of Canada Raises General Motors (NYSE:GM) Price Target to $65.00

General Motors (NYSE:GM) (TSE:GMM.U) had its target price boosted by stock analysts at Royal Bank of Canada from $58.00 to $65.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the auto manufacturer’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 22.76% from the company’s current price.

Several other research firms have also recently issued reports on GM. Nomura Securities raised General Motors to a “strong sell” rating in a research note on Monday, August 5th. DZ Bank cut General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research note on Friday, October 11th. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Wells Fargo & Company lifted their price target on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a report on Wednesday. Finally, Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a report on Monday, August 5th. 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 issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $56.97.

General Motors Stock Performance

General Motors stock traded down $0.78 during midday trading on Wednesday, hitting $52.95. 11,673,170 shares of the company were exchanged, compared to its average volume of 15,161,450. The firm has a market capitalization of $60.41 billion, a PE ratio of 6.46, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. The business has a fifty day simple moving average of $47.33 and a two-hundred day simple moving average of $46.04. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $54.19.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter last year, the firm earned $2.28 earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, sell-side analysts forecast that General Motors will post 9.95 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was acquired at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the acquisition, the chief financial officer now directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was acquired at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the acquisition, the chief financial officer now directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Rory Harvey sold 12,795 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.02, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of General Motors

Several large investors have recently modified their holdings of GM. Legacy Capital Group California Inc. lifted its holdings in General Motors by 54.0% in the third quarter. Legacy Capital Group California Inc. now owns 6,801 shares of the auto manufacturer’s stock worth $305,000 after acquiring an additional 2,384 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in General Motors by 86.9% in the third quarter. Assenagon Asset Management S.A. now owns 569,633 shares of the auto manufacturer’s stock worth $25,542,000 after acquiring an additional 264,880 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in General Motors by 4,826.5% in the third quarter. International Assets Investment Management LLC now owns 549,261 shares of the auto manufacturer’s stock worth $24,629,000 after acquiring an additional 538,112 shares during the last quarter. Guidance Capital Inc. lifted its holdings in General Motors by 5.1% in the third quarter. Guidance Capital Inc. now owns 20,107 shares of the auto manufacturer’s stock worth $989,000 after acquiring an additional 971 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in General Motors by 29.1% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 8,162 shares of the auto manufacturer’s stock worth $366,000 after acquiring an additional 1,838 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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.