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

General Motors (NYSE:GM) (TSE:GMM.U) had its target price raised by equities researchers at UBS Group from $58.00 to $62.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the auto manufacturer’s stock. UBS Group’s price objective would suggest a potential upside of 17.65% from the company’s current price.

Several other research firms have also commented on GM. Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a research report on Monday, August 5th. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a report on Friday, October 11th. The Goldman Sachs Group upped their price target on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Barclays upped their target price on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $56.97.

General Motors Stock Down 0.4 %

Shares of NYSE:GM opened at $52.70 on Wednesday. The stock has a 50-day simple moving average of $47.52 and a 200-day simple moving average of $46.09. The stock has a market capitalization of $60.13 billion, a P/E ratio of 6.44, a PEG ratio of 0.56 and a beta of 1.42. General Motors has a 1 year low of $26.30 and a 1 year high of $54.29. 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 (NYSE:GM) (TSE:GMM.U) last released 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 period in the previous year, the firm earned $2.28 earnings per share. General Motors’s revenue for the quarter was up 10.5% on a year-over-year basis. Equities analysts forecast that General Motors will post 9.95 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 531,228 shares of company stock worth $28,267,714. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GM. Global Assets Advisory LLC bought a new stake in shares of General Motors in the 1st quarter valued at about $2,644,000. Brookstone Capital Management boosted its stake in shares of General Motors by 5.1% during the 1st quarter. Brookstone Capital Management now owns 158,321 shares of the auto manufacturer’s stock worth $7,180,000 after buying an additional 7,639 shares during the last quarter. Sovereign Financial Group Inc. bought a new position in shares of General Motors in the 1st quarter valued at about $230,000. Signet Financial Management LLC grew its stake in General Motors by 24.2% in the first quarter. Signet Financial Management LLC now owns 27,769 shares of the auto manufacturer’s stock valued at $1,259,000 after purchasing an additional 5,414 shares in the last quarter. Finally, Janiczek Wealth Management LLC increased its holdings in General Motors by 5.2% during the first quarter. Janiczek Wealth Management LLC now owns 5,063 shares of the auto manufacturer’s stock worth $230,000 after buying an additional 248 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.