General Motors (NYSE:GM) Lifted to Buy at StockNews.com

General Motors (NYSE:GM) (TSE:GMM.U) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

A number of other research firms have also recently issued reports on GM. Wolfe Research upgraded shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research report on Thursday, January 4th. Tigress Financial boosted their target price on shares of General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 15th. Redburn Atlantic initiated coverage on shares of General Motors in a report on Wednesday, January 24th. They set a “neutral” rating and a $40.00 target price on the stock. Royal Bank of Canada boosted their target price on shares of General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Morgan Stanley upped their price objective on shares of General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $54.38.

General Motors Price Performance

Shares of NYSE:GM traded up $0.54 during midday trading on Thursday, hitting $45.62. The stock had a trading volume of 14,513,333 shares, compared to its average volume of 17,521,344. The company’s 50-day moving average price is $42.13 and its 200-day moving average price is $36.19. The company has a market capitalization of $52.67 billion, a P/E ratio of 5.58, a price-to-earnings-growth ratio of 0.53 and a beta of 1.51. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $46.04.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating the consensus estimate of $2.02 by $0.60. The company had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.21 EPS. As a group, equities research analysts predict that General Motors will post 9.26 EPS for the current fiscal year.

Insider Activity

In other news, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the sale, the executive vice president now owns 87,567 shares in the company, valued at $3,348,562.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the sale, the executive vice president now owns 87,567 shares in the company, valued at $3,348,562.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christopher Hatto sold 15,510 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $40.02, for a total transaction of $620,710.20. Following the sale, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The disclosure for this sale can be found here. Insiders sold a total of 86,248 shares of company stock worth $3,614,078 over the last quarter. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On General Motors

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SouthState Corp boosted its position in General Motors by 173.8% during the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after purchasing an additional 485 shares during the period. Highlander Capital Management LLC bought a new position in General Motors during the fourth quarter worth about $27,000. Cape Investment Advisory Inc. boosted its position in General Motors by 75.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after purchasing an additional 359 shares during the period. BluePath Capital Management LLC bought a new position in shares of General Motors in the third quarter valued at approximately $33,000. Finally, Sachetta LLC bought a new position in shares of General Motors in the fourth quarter valued at approximately $33,000. Institutional investors 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.