Mizuho Forecasts Strong Price Appreciation for General Motors (NYSE:GM) Stock

General Motors (NYSE:GM) (TSE:GMM.U) had its target price raised by Mizuho from $59.00 to $62.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the auto manufacturer’s stock. Mizuho’s target price would suggest a potential upside of 14.20% from the company’s current price.

Several other research firms have also weighed in on GM. Barclays upped their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein increased their price objective on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Royal Bank of Canada increased their price objective on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Morgan Stanley lowered shares of General Motors from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. Finally, Wolfe Research began coverage on shares of General Motors in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $58.26.

General Motors Price Performance

Shares of GM traded up $0.88 during trading hours on Monday, hitting $54.29. The stock had a trading volume of 606,105 shares, compared to its average volume of 14,779,699. The company’s fifty day moving average is $52.26 and its two-hundred day moving average is $48.41. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. General Motors has a 52 week low of $32.83 and a 52 week high of $61.24. The stock has a market capitalization of $59.70 billion, a price-to-earnings ratio of 5.79, a P/E/G ratio of 0.40 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same quarter in the prior year, the firm earned $2.28 EPS. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, analysts anticipate that General Motors will post 10.35 EPS for the current year.

Insider Transactions at General Motors

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 8,919 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. The trade was a 51.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,030,475 shares of company stock valued at $56,509,286. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GM. Strategic Investment Solutions Inc. IL bought a new stake in shares of General Motors during the second quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of General Motors during the third quarter worth about $27,000. Truvestments Capital LLC bought a new stake in shares of General Motors during the third quarter worth about $27,000. Wellington Shields Capital Management LLC bought a new stake in shares of General Motors during the second quarter worth about $28,000. Finally, EdgeRock Capital LLC bought a new stake in shares of General Motors during the second quarter worth about $33,000. Institutional investors and hedge funds 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.