General Motors (NYSE:GM) Given New $65.00 Price Target at Royal Bank of Canada

General Motors (NYSE:GM) (TSE:GMM.U) had its target price boosted by equities research analysts at Royal Bank of Canada from $58.00 to $65.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the auto manufacturer’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 23.34% from the company’s current price.

Other research analysts have also issued reports about the company. Morgan Stanley lowered General Motors from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $47.00 to $42.00 in a research report on Wednesday, September 25th. Wolfe Research began coverage on shares of General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Wells Fargo & Company raised their price target on shares of General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a report on Wednesday. DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research note on Friday, October 11th. Finally, Wedbush increased their target price on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $56.97.

General Motors Stock Down 0.4 %

Shares of General Motors stock opened at $52.70 on Wednesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The stock has a market cap of $60.13 billion, a price-to-earnings ratio of 6.44, a PEG ratio of 0.56 and a beta of 1.42. The firm’s 50-day moving average is $47.52 and its two-hundred day moving average is $46.09. General Motors has a 1 year low of $26.30 and a 1 year high of $54.29.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. The firm had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period last year, the firm earned $2.28 earnings per share. As a group, research analysts expect that General Motors will post 9.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at approximately $37,040,244.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other General Motors news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the transaction, the executive vice president now owns 10,356 shares in the company, valued at approximately $489,942.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 531,228 shares of company stock valued at $28,267,714. Company insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On General Motors

A number of institutional investors have recently added to or reduced their stakes in GM. SJS Investment Consulting Inc. increased its position in shares of General Motors by 34.5% during the second quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock worth $37,000 after purchasing an additional 203 shares in the last quarter. Allworth Financial LP grew its holdings in shares of General Motors by 2.3% during the third quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock worth $412,000 after buying an additional 205 shares in the last quarter. Fortitude Family Office LLC raised its position in shares of General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares during the last quarter. SeaCrest Wealth Management LLC lifted its stake in shares of General Motors by 3.5% in the second quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock worth $316,000 after buying an additional 227 shares in the last quarter. Finally, Institute for Wealth Management LLC. lifted its stake in shares of General Motors by 0.6% in the second quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock worth $1,702,000 after buying an additional 230 shares in the last quarter. Institutional investors and hedge funds 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.