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

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

Several other equities research analysts have also issued reports on GM. Redburn Atlantic initiated coverage on General Motors in a research report on Wednesday, January 24th. They set a “neutral” rating and a $40.00 target price for the company. Morgan Stanley raised their target price on General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Tigress Financial lifted their price objective on General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 15th. Sanford C. Bernstein began coverage on General Motors in a report on Thursday. They issued an “outperform” rating and a $55.00 price objective for the company. Finally, Royal Bank of Canada lifted their price objective on General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.65.

General Motors Price Performance

Shares of GM opened at $45.82 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The business’s fifty day moving average is $42.27 and its 200 day moving average is $36.29. General Motors has a 12-month low of $26.30 and a 12-month high of $46.17. The stock has a market cap of $52.28 billion, a P/E ratio of 5.60, a P/E/G ratio of 0.52 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. During the same period last year, the business earned $2.21 EPS. The business’s revenue was up 7.6% on a year-over-year basis. Sell-side analysts anticipate that General Motors will post 9.44 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Christopher Hatto sold 15,510 shares of General Motors 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 completion of the sale, the chief accounting officer now owns 21,507 shares in the company, valued at approximately $860,710.14. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the sale, the chief accounting officer now owns 21,507 shares in the company, valued at approximately $860,710.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Rory Harvey sold 5,100 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $43.04, for a total value of $219,504.00. Following the completion of the sale, the executive vice president now owns 12,658 shares of the company’s stock, valued at approximately $544,800.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,248 shares of company stock worth $3,614,078. 0.54% of the stock is currently owned by insiders.

Institutional Trading of General Motors

Hedge funds have recently bought and sold shares of the company. SouthState Corp increased its stake in General Motors by 173.8% in the 3rd 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. LifeSteps Financial Inc. purchased a new stake in shares of General Motors in the 1st quarter worth about $25,000. Highlander Capital Management LLC purchased a new stake in General Motors in the fourth quarter worth about $27,000. Cape Investment Advisory Inc. lifted its stake in shares of General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after purchasing an additional 359 shares during the period. Finally, YHB Investment Advisors Inc. purchased a new position in shares of General Motors in the 1st quarter valued at approximately $32,000. Institutional investors own 92.67% of the company’s stock.

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.