Royal Bank of Canada Raises General Motors (NYSE:GM) Price Target to $54.00
General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) had its target price upped by research analysts at Royal Bank of Canada from $48.00 to $54.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the auto manufacturer’s stock. Royal Bank of Canada’s target price suggests a potential upside of 67.96% from the stock’s current price.
Several other equities analysts have also recently weighed in on GM. Barclays upgraded shares of General Motors from an “equal weight” rating to an “overweight” rating and set a $37.00 price objective on the stock in a research note on Wednesday, November 1st. Benchmark restated a “buy” rating and set a $60.00 target price on shares of General Motors in a research note on Wednesday, October 25th. TheStreet cut shares of General Motors from a “b-” rating to a “c+” rating in a research note on Tuesday, October 3rd. The Goldman Sachs Group decreased their target price on shares of General Motors from $47.00 to $42.00 and set a “buy” rating on the stock in a research note on Wednesday, October 25th. Finally, StockNews.com began coverage on shares of General Motors in a research note on Thursday, October 5th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Motors currently has an average rating of “Moderate Buy” and an average target price of $50.25.
Get Our Latest Stock Analysis on GM
General Motors Stock Performance
Shares of NYSE GM traded up $0.55 during trading on Friday, reaching $32.15. 9,935,529 shares of the company traded hands, compared to its average volume of 15,049,333. The firm has a 50 day simple moving average of $29.56 and a 200-day simple moving average of $33.51. The company has a quick ratio of 0.96, a current ratio of 1.14 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $44.03 billion, a PE ratio of 4.52, a P/E/G ratio of 0.42 and a beta of 1.48. General Motors has a 52-week low of $26.30 and a 52-week high of $43.63.
General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 24th. The auto manufacturer reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.41. The firm had revenue of $44.13 billion for the quarter, compared to the consensus estimate of $42.48 billion. General Motors had a net margin of 5.83% and a return on equity of 16.01%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.25 EPS. Equities research analysts anticipate that General Motors will post 7.6 earnings per share for the current year.
Institutional Trading of General Motors
Hedge funds have recently added to or reduced their stakes in the business. VisionPoint Advisory Group LLC purchased a new stake in shares of General Motors during the second quarter valued at about $25,000. SouthState Corp lifted its position in shares of General Motors by 173.8% during the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after buying an additional 485 shares during the last quarter. Penserra Capital Management LLC lifted its position in shares of General Motors by 85.8% during the first quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after buying an additional 283 shares during the last quarter. Fiduciary Alliance LLC purchased a new stake in shares of General Motors during the second quarter valued at about $28,000. Finally, JNBA Financial Advisors lifted its position in shares of General Motors by 149.1% during the second quarter. JNBA Financial Advisors now owns 730 shares of the auto manufacturer’s stock valued at $28,000 after buying an additional 437 shares during the last quarter. 79.62% of the stock is owned by hedge funds and other institutional investors.
General Motors Company Profile (Get Free Report)
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.
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Original: MarketBeat News Feed: Royal Bank of Canada Raises General Motors (NYSE:GM) Price Target to $54.00