Deutsche Bank Boosts General Motors (NYSE:GM) Price Target to $33.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price target raised by Deutsche Bank from $30.00 to $33.00 in a report published on Thursday morning, The Fly reports. Deutsche Bank currently has a buy rating on the auto manufacturer’s stock.

Several other equities research analysts also recently issued reports on the stock. Nomura lowered their price objective on shares of General Motors from $36.00 to $23.00 and set a neutral rating on the stock in a research note on Monday, May 11th. Jefferies Financial Group reiterated a neutral rating and set a $28.00 price target on shares of General Motors in a research note on Thursday, June 18th. Nomura Instinet decreased their price target on shares of General Motors from $36.00 to $23.00 and set a neutral rating on the stock in a research note on Monday, May 11th. ValuEngine upgraded shares of General Motors from a hold rating to a buy rating in a research note on Monday, July 13th. Finally, Goldman Sachs Group upgraded shares of General Motors from a neutral rating to a buy rating and set a $36.00 price target on the stock in a research note on Thursday, June 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. General Motors has a consensus rating of Buy and an average price target of $35.37.

GM stock traded down $0.31 during midday trading on Thursday, hitting $24.89. 17,784,317 shares of the company traded hands, compared to its average volume of 12,769,398. General Motors has a twelve month low of $14.32 and a twelve month high of $41.90. The company has a quick ratio of 0.95, a current ratio of 1.12 and a debt-to-equity ratio of 2.00. The business has a 50 day simple moving average of $25.92 and a 200-day simple moving average of $26.92. The stock has a market capitalization of $35.62 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 1.78 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Wednesday, July 29th. The auto manufacturer reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.72) by $1.22. The business had revenue of $16.80 billion for the quarter, compared to the consensus estimate of $16.93 billion. General Motors had a net margin of 1.46% and a return on equity of 6.27%. General Motors’s quarterly revenue was down 53.4% on a year-over-year basis. During the same quarter last year, the company posted $1.64 earnings per share. Equities research analysts forecast that General Motors will post 2.16 EPS for the current year.

In other General Motors news, EVP Julian G. Blissett purchased 9,300 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average cost of $26.00 per share, with a total value of $241,800.00. Following the completion of the acquisition, the executive vice president now directly owns 22,130 shares of the company’s stock, valued at approximately $575,380. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.65% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Advisory Alpha LLC lifted its position in shares of General Motors by 76.9% during the 1st quarter. Advisory Alpha LLC now owns 1,159 shares of the auto manufacturer’s stock valued at $25,000 after acquiring an additional 504 shares during the period. HHM Wealth Advisors LLC purchased a new stake in shares of General Motors during the first quarter valued at approximately $25,000. Howe & Rusling Inc. increased its position in General Motors by 246.3% in the first quarter. Howe & Rusling Inc. now owns 1,385 shares of the auto manufacturer’s stock worth $29,000 after buying an additional 985 shares during the last quarter. Whittier Trust Co. increased its position in General Motors by 238.2% in the first quarter. Whittier Trust Co. now owns 1,488 shares of the auto manufacturer’s stock worth $31,000 after buying an additional 1,048 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in General Motors by 714.6% in the second quarter. Larson Financial Group LLC now owns 1,678 shares of the auto manufacturer’s stock worth $42,000 after buying an additional 1,472 shares during the last quarter. Hedge funds and other institutional investors own 75.41% of the company’s stock.

General Motors Company Profile

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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Analyst Recommendations for General Motors (NYSE:GM)

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