Royal Bank of Canada Raises General Motors (NYSE:GM) Price Target to $56.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective upped by Royal Bank of Canada from $54.00 to $56.00 in a research note issued to investors on Tuesday, MarketBeat reports. The firm presently has an “overweight” rating on the auto manufacturer’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 24.25% from the company’s current price.

A number of other brokerages have also recently issued reports on GM. Piper Sandler began coverage on General Motors in a research note on Friday, March 15th. They set a “neutral” rating and a $44.00 price objective on the stock. Redburn Atlantic began coverage on General Motors in a research note on Wednesday, January 24th. They set a “neutral” rating and a $40.00 price objective on the stock. Wolfe Research raised General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research note on Thursday, January 4th. TheStreet raised General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. Finally, Wedbush raised their price objective on General Motors from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.35.

General Motors Stock Down 0.1 %

GM opened at $45.07 on Tuesday. The stock has a market cap of $52.03 billion, a PE ratio of 6.17, a P/E/G ratio of 0.51 and a beta of 1.51. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 1.21. General Motors has a 52 week low of $26.30 and a 52 week high of $46.04. The business’s fifty day simple moving average is $42.00 and its 200 day simple moving average is $36.12.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The firm had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. During the same period last year, the firm earned $2.21 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, research analysts expect that General Motors will post 9.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the completion of the sale, the chief accounting officer now directly owns 12,007 shares in the company, valued at $540,315. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 87,567 shares in the company, valued at $3,348,562.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Christopher Hatto sold 3,500 shares of General Motors stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total transaction of $157,500.00. Following the transaction, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at $540,315. The disclosure for this sale can be found here. Insiders sold 86,248 shares of company stock worth $3,614,078 over the last three months. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On General Motors

Several large investors have recently made changes to their positions in GM. Unison Advisors LLC increased its position in shares of General Motors by 0.4% during the first quarter. Unison Advisors LLC now owns 67,196 shares of the auto manufacturer’s stock valued at $3,047,000 after acquiring an additional 246 shares in the last quarter. Janiczek Wealth Management LLC increased its position in shares of General Motors by 5.2% during the first quarter. Janiczek Wealth Management LLC now owns 5,063 shares of the auto manufacturer’s stock valued at $230,000 after acquiring an additional 248 shares in the last quarter. FinTrust Capital Advisors LLC increased its position in shares of General Motors by 2.5% during the fourth quarter. FinTrust Capital Advisors LLC now owns 11,113 shares of the auto manufacturer’s stock valued at $399,000 after acquiring an additional 268 shares in the last quarter. Summit Financial LLC increased its position in shares of General Motors by 4.3% during the fourth quarter. Summit Financial LLC now owns 6,662 shares of the auto manufacturer’s stock valued at $239,000 after acquiring an additional 273 shares in the last quarter. Finally, Sutton Place Investors LLC increased its position in shares of General Motors by 1.7% during the first quarter. Sutton Place Investors LLC now owns 17,236 shares of the auto manufacturer’s stock valued at $782,000 after acquiring an additional 280 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

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.