General Motors (NYSE:GM) Price Target Raised to $60.00 at Barclays

General Motors (NYSE:GM) (TSE:GMM.U) had its target price increased by investment analysts at Barclays from $55.00 to $60.00 in a report released on Friday, Benzinga reports. The firm currently has an “overweight” rating on the auto manufacturer’s stock. Barclays‘s price objective suggests a potential upside of 30.61% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company upped their target price on General Motors from $28.00 to $30.00 and gave the stock an “underweight” rating in a research report on Wednesday. Citigroup upped their target price on General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday. Wolfe Research raised General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a report on Thursday, January 4th. Piper Sandler upped their price target on General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Royal Bank of Canada upped their price target on General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday. One equities research 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, the company currently has an average rating of “Moderate Buy” and an average price target of $54.65.

General Motors Stock Performance

Shares of NYSE GM traded up $0.32 during midday trading on Friday, hitting $45.94. 3,010,643 shares of the company’s stock were exchanged, compared to its average volume of 17,332,016. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.90. The stock’s 50 day moving average price is $42.13 and its 200-day moving average price is $36.19. The firm has a market cap of $52.42 billion, a P/E ratio of 5.64, a PEG ratio of 0.52 and a beta of 1.51. General Motors has a twelve month low of $26.30 and a twelve month high of $46.17.

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 (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.60. The business had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.21 earnings per share. Equities research analysts anticipate that General Motors will post 9.44 EPS for the current year.

Insider Buying and Selling

In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the transaction, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at $540,315. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Christopher Hatto sold 3,500 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the sale, 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 valued at $3,614,078 over the last quarter. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On General Motors

Several large investors have recently modified their holdings of the business. Mesirow Financial Investment Management Inc. purchased a new position in shares of General Motors in the first quarter worth about $271,000. Checchi Capital Advisers LLC increased its stake in shares of General Motors by 11.5% in the first quarter. Checchi Capital Advisers LLC now owns 7,516 shares of the auto manufacturer’s stock worth $341,000 after purchasing an additional 774 shares in the last quarter. Lindbrook Capital LLC increased its stake in shares of General Motors by 5.2% in the first quarter. Lindbrook Capital LLC now owns 6,853 shares of the auto manufacturer’s stock worth $311,000 after purchasing an additional 341 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of General Motors by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 12,815,844 shares of the auto manufacturer’s stock worth $581,199,000 after purchasing an additional 438,065 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of General Motors by 1.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 250,515 shares of the auto manufacturer’s stock worth $11,361,000 after purchasing an additional 3,186 shares in the last quarter. Hedge funds and other 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.