Wells Fargo & Company Forecasts Strong Price Appreciation for General Motors (NYSE:GM) Stock

General Motors (NYSE:GM) (TSE:GMM.U) had its target price raised by equities researchers at Wells Fargo & Company from $35.00 to $37.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the auto manufacturer’s stock. Wells Fargo & Company‘s price target points to a potential downside of 25.09% from the company’s previous close.

GM has been the topic of a number of other reports. UBS Group raised their target price on shares of General Motors from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. raised their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. StockNews.com upgraded General Motors from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a report on Wednesday, December 11th. Three analysts have rated the stock with a sell rating, seven have given 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, the company has an average rating of “Hold” and an average price target of $61.28.

General Motors Price Performance

NYSE GM opened at $49.39 on Wednesday. General Motors has a fifty-two week low of $37.60 and a fifty-two week high of $61.24. The stock’s 50-day moving average is $52.94 and its two-hundred day moving average is $49.95. The firm has a market cap of $54.31 billion, a P/E ratio of 5.27, a price-to-earnings-growth ratio of 0.38 and a beta of 1.42. 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 (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 16.30% and a net margin of 6.06%. On average, analysts anticipate that General Motors will post 10.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $510,865.13. This trade represents a 51.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the sale, the president now directly owns 126,907 shares in the company, valued at $7,000,190.12. This represents a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 514,344 shares of company stock worth $28,977,691 in the last 90 days. 0.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On General Motors

Institutional investors have recently bought and sold shares of the business. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of General Motors by 972.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock valued at $94,300,000 after buying an additional 1,906,964 shares in the last quarter. Jennison Associates LLC increased its position in General Motors by 123.1% in the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock valued at $144,655,000 after acquiring an additional 1,779,897 shares in the last quarter. Artemis Investment Management LLP raised its stake in shares of General Motors by 581.4% in the third quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock worth $71,827,000 after acquiring an additional 1,366,768 shares during the last quarter. National Bank of Canada FI lifted its position in shares of General Motors by 158.8% during the third quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock worth $97,374,000 after purchasing an additional 1,332,450 shares in the last quarter. Finally, AustralianSuper Pty Ltd grew its stake in shares of General Motors by 35.8% during the fourth quarter. AustralianSuper Pty Ltd now owns 4,399,549 shares of the auto manufacturer’s stock valued at $234,364,000 after purchasing an additional 1,159,958 shares during the last quarter. 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.